Castle Van Hire Limited Small abbreviated accounts

Castle Van Hire Limited Small abbreviated accounts

CASTLE VAN HIRE LTD. - Company Information

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COMPANY REGISTRATION NUMBER 09146584
CASTLE VAN HIRE LIMITED
ABBREVIATED ACCOUNTS
31 March 2016
M A WHITE & CO
Accountants
2 Queen Victoria Road
Coventry
CV1 3JH
CASTLE VAN HIRE LIMITED
ABBREVIATED BALANCE SHEET
31 March 2016
2016
2015
Note
£
£
£
FIXED ASSETS
2
Tangible assets
195,045
58,121
----------
---------
CURRENT ASSETS
Cash at bank and in hand
23,368
45,721
CREDITORS: Amounts falling due within one year
63,057
13,899
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 39,689)
31,822
----------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
155,356
89,943
CREDITORS: Amounts falling due after more than one year
132,641
86,611
----------
---------
22,715
3,332
----------
---------
CAPITAL AND RESERVES
Called up equity share capital
3
2
2
Profit and loss account
22,713
3,330
---------
-------
SHAREHOLDERS' FUNDS
22,715
3,332
---------
-------
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on 19 September 2016 .
Mrs A Takhar Director
Company Registration Number: 09146584
CASTLE VAN HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MARCH 2016
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards.
Cash flow statement
The director has taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cash flow statement in the financial statements on the grounds that the company is small.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor Vehicles-25%
Equipment-15%
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
2. FIXED ASSETS
Tangible Assets
£
COST
At 1 April 2015
58,121
Additions
209,032
Disposals
( 6,900)
----------
At 31 March 2016
260,253
----------
DEPRECIATION
Charge for year
65,208
---------
At 31 March 2016
65,208
---------
NET BOOK VALUE
At 31 March 2016
195,045
----------
At 31 March 2015
58,121
----------
3. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No
£
No
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
CASTLE VAN HIRE LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR OF CASTLE VAN HIRE
LIMITED
YEAR ENDED 31 MARCH 2016
As described on the balance sheet, the director of the company is responsible for the preparation of the abbreviated accounts for the year ended 31 March 2016, which comprise the Balance Sheet and the related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited abbreviated accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
M A WHITE & CO Accountants
2 Queen Victoria Road Coventry CV1 3JH
19 September 2016