Company Registration No. 07224461 (England and Wales)
IDEAL ELECTRICAL AND PLUMBING SUPPLIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
IDEAL ELECTRICAL AND PLUMBING SUPPLIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
IDEAL ELECTRICAL AND PLUMBING SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
520,000
640,000
Tangible assets
2
16,706
47,627
536,706
687,627
Current assets
Stocks
199,632
221,802
Debtors
900,350
634,621
Cash at bank and in hand
268,148
360,248
1,368,130
1,216,671
Creditors: amounts falling due within one year
(372,787)
(536,150)
Net current assets
995,343
680,521
Total assets less current liabilities
1,532,049
1,368,148
Creditors: amounts falling due after more than one year
3
(331,847)
(371,431)
1,200,202
996,717
Capital and reserves
Called up share capital
4
3
3
Profit and loss account
1,200,199
996,714
Shareholders' funds
1,200,202
996,717
IDEAL ELECTRICAL AND PLUMBING SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial 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.
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 2 December 2016
C Paul
M Clarke
Director
Director
Company Registration No. 07224461
IDEAL ELECTRICAL AND PLUMBING SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
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:
Plant and machinery
20% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
20% straight line
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
1,200,000
176,687
1,376,687
Additions
-
1,091
1,091
At 31 March 2016
1,200,000
177,778
1,377,778
Depreciation
At 1 April 2015
560,000
129,060
689,060
Charge for the year
120,000
32,012
152,012
At 31 March 2016
680,000
161,072
841,072
Net book value
At 31 March 2016
520,000
16,706
536,706
At 31 March 2015
640,000
47,627
687,627
IDEAL ELECTRICAL AND PLUMBING SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
112,180
161,763
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 A Ordinary shares of £1 each
2
2
1 B Ordinary shares of £1 each
1
1
3
3
5
Related party relationships and transactions
Loans to directors
The following director had an interest free loan during the year. The movement on this loan is as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
C Paul - Loan
-
288,437
154,440
-
165,000
277,877
288,437
154,440
-
165,000
277,877
2016-03-312015-04-01falsetruetruetruetruetrueIDEAL_ELECTRICAL_AND_PLUM-2016-12-02-Abbreviated-Accounts.html2016-12-02072244612015-04-012016-03-31072244612016-03-31072244612015-03-31072244612015-03-3107224461uk-bus:Director12015-04-012016-03-3107224461uk-bus:Director22015-04-012016-03-3107224461uk-gaap:PlantMachinery2015-04-012016-03-3107224461uk-gaap:FixturesFittingsToolsEquipment2015-04-012016-03-3107224461uk-gaap:MotorVehicles2015-04-012016-03-3107224461uk-bus:OrdinaryShareClass22015-04-012016-03-3107224461uk-bus:OrdinaryShareClass32015-04-012016-03-3107224461uk-bus:OrdinaryShareClass22016-03-3107224461uk-bus:OrdinaryShareClass32016-03-3107224461uk-bus:OrdinaryShareClass22015-03-3107224461uk-bus:OrdinaryShareClass32015-03-31xbrli:purexbrli:sharesiso4217:GBP
