Reid & Tate Limited - Period Ending 2016-02-29

Registration number: 05356758

Reid & Tate Limited
 
  Unaudited Abbreviated Accounts
 
  for the year ended 29 February 2016
 

HPH
Chartered Accountants
54 Bootham
York
York
YO30 7XZ

Reid & Tate Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Reid & Tate Limited
(Registration number: 05356758)
Abbreviated Balance Sheet - UNAUDITED - at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			40			80
Current assets
Debtors					1,202			1,210
Cash at bank and in hand					11,741			14,385
					12,943			15,595
Creditors: Amounts falling due within one year					(12,748)			(15,224)
Net current assets					195			371
Net assets					£235			£451
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					135			351
Shareholders' funds					£235			£451

For the year ending 29 February 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 30 November 2016 and signed on its behalf by:

.........................................
Mr S Reid
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Reid & Tate Limited
Notes to the Abbreviated Accounts - UNAUDITED - for the Year Ended 29 February 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

Turnover

Turnover represents amounts chargeable in respect of painting and decorating services supplied to customers during the year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line basis
Motor vehicles	25% straight line basis
Computer equipment	33% straight line basis

Stock and work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Reid & Tate Limited
Notes to the Abbreviated Accounts - UNAUDITED - for the Year Ended 29 February 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2015		8,481			8,481
At 29 February 2016		8,481			8,481
Depreciation
At 1 March 2015		8,401			8,401
Charge for the year		40			40
At 29 February 2016		8,441			8,441
Net book value
At 29 February 2016		£40			£40
At 28 February 2015		£80			£80

3	Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary shares of £1.00 each	100	£100	100	£100

Page 3