S J Groves Building Contractors Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04531739 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

S J GROVES BUILDING CONTRACTORS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S J Groves

SECRETARY:

Mrs J M Groves

REGISTERED OFFICE:

Holly Cottage

Somersal Herbert

Ashbourne

Derbyshire

DE6 5PD

REGISTERED NUMBER:

04531739 (England and Wales)

ACCOUNTANTS:

Wynniatt-Husey Limited (Uttoxeter Branch)

The Old Bakehouse

Dove Walk

Uttoxeter

Staffordshire

ST14 8EH

FIXED ASSETS

58,406

Tangible assets

2

66,446

CURRENT ASSETS

475

Stocks

460

25

Debtors

17,368

83,146

Cash at bank and in hand

12,851

83,646

30,679

CREDITORS

(98,810

)

Amounts falling due within one year

(81,704

)

(15,164

)

NET CURRENT LIABILITIES

(51,025

)

43,242

TOTAL ASSETS LESS CURRENT
LIABILITIES

15,421

(11,681

)

PROVISIONS FOR LIABILITIES

(13,289

)

31,561

NET ASSETS

2,132

CAPITAL AND RESERVES

2

Called up share capital

3

2

31,559

Profit and loss account

2,130

31,561

SHAREHOLDERS' FUNDS

2,132

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

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

The director acknowledges his 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 director on 22 November 2016 and were signed by:

S J Groves - 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

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

151,990

Additions

42,236

Disposals

(12,050

)

At 31 March 2016

182,176

DEPRECIATION

At 1 April 2015

93,584

Charge for year

22,146

At 31 March 2016

115,730

NET BOOK VALUE

At 31 March 2016

66,446

At 31 March 2015

58,406

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2

Ordinary

1

2