Greencore Construction Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08754406 (England and Wales)

Abbreviated Accounts

for the Year Ended 31st May 2016

for

Greencore Construction Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I J Pritchett

M S C Pike

REGISTERED OFFICE:

2 West Street

Henley On Thames

Oxfordshire

RG9 2DU

REGISTERED NUMBER:

08754406 (England and Wales)

ACCOUNTANTS:

Buffery & Co Ltd

2 West Street

Henley On Thames

Oxfordshire

RG9 2DU

FIXED ASSETS

Tangible assets

2

45,979

17,034

Investments

3

203,000

-

248,979

17,034

CURRENT ASSETS

Stocks

563,935

1,515,554

Debtors

4

755,488

483,928

Cash at bank

4,729

18,611

1,324,152

2,018,093

CREDITORS

Amounts falling due within one year

320,487

256,197

NET CURRENT ASSETS

1,003,665

1,761,896

TOTAL ASSETS LESS CURRENT LIABILITIES

1,252,644

1,778,930

CREDITORS

Amounts falling due after more than one year

2,467,090

2,408,694

NET LIABILITIES

(1,214,446

)

(629,764

)

CAPITAL AND RESERVES

Called up share capital

5

170

170

Profit and loss account

(1,214,616

)

(629,934

)

SHAREHOLDERS' FUNDS

(1,214,446

)

(629,764

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17th November 2016 and were signed on its behalf by:

I J Pritchett - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

For internal development projects, turnover represents the work completed for each project, based on associated

direct costs. At the end of a projects life, the balancing profit or loss for each project is also entered as turnover.

For construction contracts with external clients, turnover represents direct costs, overheads and profit for each

stage of the work completed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33.33% on cost

Stocks

Stocks represent the current work in progress of a project.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Loan interest

Simple loan interest is accrued daily at the relevant rate of interest on outstanding loan balances.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2015

23,522

Additions

37,660

At 31st May 2016

61,182

DEPRECIATION

At 1st June 2015

6,488

Charge for year

8,715

At 31st May 2016

15,203

NET BOOK VALUE

At 31st May 2016

45,979

At 31st May 2015

17,034

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

203,000

At 31st May 2016

203,000

NET BOOK VALUE

At 31st May 2016

203,000

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 431,818 (31.5.15 - £ 193,554 )

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

£

170

Ordinary

£1

170

170