Kent Scaffolding Co. Limited - Full Accounts

KENT SCAFFOLDING CO. LIMITED - Company Information

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Kent Scaffolding Co. Limited

FINANCIAL STATEMENTS

for the year ended 29th February 2016

Kent Scaffolding Co. Limited

CONTENTS

for the year ended 29th February 2016

The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts

Kent Scaffolding Co. Limited

Company No. 01031235

STATEMENT OF FINANCIAL POSITION

as at 29th February 2016

				2015
	Note	£	£	£
FIXED ASSETS
Property, plant and equipment	4		260171	244796
			260171	244796
CURRENT ASSETS
Inventories	5	-		26922
Debtors	6	22702		107792
Cash at bank and in hand		40		498
		22742		135212
CURRENT LIABILITIES
Creditors: amounts falling due
within one year	7	314322		392535
NET CURRENT LIABILITIES			(291580)	(257323)
TOTAL ASSETS LESS CURRENT LIABILITIES			(31409)	(12527)

Creditors: amounts falling due
after more than one year			-	-

Provisions for liabilities and charges

Deferred taxation			(20352)	(20352)

NET ASSETS			(11057)	7825

CAPITAL AND RESERVES
Called up share capital			6000	6000
Retained earnings			(17057)	1825

SHAREHOLDERS FUNDS			(11057)	7825

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime.

For the year ended 29th February 2016 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 28 November 2016

S R Clark

Director

Company Number 01031235 (England)

Kent Scaffolding Co. Limited

NOTES TO THE ACCOUNTS

for the year ended 29th February 2016

1 Statutory information

Kent Scaffolding Co. Limited is a private company limited by shares and registered under company number 01031235 in England. Its registered office address is 60 - 74 Creekside, London, SE8 4SA.

These financial statements are presented in Sterling, which is the functional currency of the company.

2 Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles

25% reducing balance

Inventories

Inventories are valued at the lower of cost and expected selling price less any costs to sell.

Deferred Taxation

Provision is made for deferred taxation resulting from material timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.

Deferred tax is calculated at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

3 Employee information

The average number of employees during the accounting period was 6 (2015 - 6).

4 Property, plant and equipment

		Plant	Fixtures
	Motor	and	and
	Vehicles	Machinery	Fittings	Total
	£	£	£	£
Cost
At 1st March 2015	156709	223224	43419	423352
Additions	-	23893	874	24767
At 29th February 2016	156709	247117	44293	448119

Depreciation
At 1st March 2015	121892	18114	38550	178556
Charge for year	4678	3278	1436	9392
At 29th February 2016	126570	21392	39986	187948

Net Book Value
At 29th February 2016	30139	225725	4307	260171
At 28th February 2015	34817	205110	4869	244796

Net book value of assets included above held
under finance leases and hire purchase contracts

At 29th February 2016	10537	-	-	10537
At 28th February 2015	14049	-	-	14049

5 Inventories	2016	2015
	£	£

Work in progress	-	26922
	-	26922

The difference between purchase price or production cost of inventories and their replacement cost is not material.

6 Debtors	2016	2015
	£	£

Trade Debtors	-	85090
Other debtors	22702	22702
	22702	107792

7 Creditors: amounts falling due within one year	2016	2015
	£	£

Loans and Overdrafts	8372	-
Obligations under finance lease and hire purchase contracts	5649	14049
Trade Creditors	11820	58225
Taxes and social security costs	60376	53444
Other creditors	228105	266817
	314322	392535

8 Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

	2016	2015
	£	£

S R Clark	2726	-
	2726	-