TYNE_TEES_ELECTRICAL_CONT - Accounts

TYNE TEES ELECTRICAL CONTRACTING LIMITED - Company Information

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Company Registration No. 03766036 (England and Wales)

TYNE TEES ELECTRICAL CONTRACTING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

TYNE TEES ELECTRICAL CONTRACTING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TYNE TEES ELECTRICAL CONTRACTING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

14,032

18,236

Current assets

Debtors

126,851

106,119

Cash at bank and in hand

139,225

289,953

266,076

396,072

Creditors: amounts falling due within one year

(101,748)

(141,476)

Net current assets

164,328

254,596

Total assets less current liabilities

178,360

272,832

Creditors: amounts falling due after more than one year

(4,164)

(6,436)

Provisions for liabilities

(2,148)

(2,698)

172,048

263,698

Capital and reserves

Called up share capital

100

Profit and loss account

171,948

263,598

Shareholders' funds

172,048

263,698

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 8 November 2016

Mr. D.P. McMorrow

Director

Company Registration No. 03766036

TYNE TEES ELECTRICAL CONTRACTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

10% straight line basis

Plant and equipment

15% reducing balance basis

Office equipment

15% reducing balance basis

Motor vehicles

25% reducing balance basis

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

TYNE TEES ELECTRICAL CONTRACTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 June 2015

41,423

Additions

412

At 31 May 2016

41,835

Depreciation

At 1 June 2015

23,187

Charge for the year

4,616

At 31 May 2016

27,803

Net book value

At 31 May 2016

14,032

At 31 May 2015

18,236

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100