Poulton & Lockyer (Builders) Limited - Period Ending 2016-06-30

POULTON & LOCKYER (BUILDERS) LIMITED - Company Information

Registration number: 01118064

Poulton & Lockyer (Builders) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016

Poulton & Lockyer (Builders) Limited

(Registration number: 01118064)
Abbreviated Balance Sheet as at 30 June 2016

	Note	2016 £	2015 £
Fixed assets
Intangible assets	2	1	1
Tangible assets	2	202,570	189,255
		202,571	189,256
Current assets
Debtors		42,180	37,926
Cash at bank and in hand		62,107	75,728
		104,287	113,654
Creditors: Amounts falling due within one year		(33,636)	(16,421)
Net current assets		70,651	97,233
Total assets less current liabilities		273,222	286,489
Creditors: Amounts falling due after more than one year		(262,287)	(266,227)
Accruals and deferred income		(2,250)	(2,250)
Net assets		8,685	18,012
Capital and reserves
Called up share capital	3	5,800	5,800
Profit and loss account		2,885	12,212
Shareholders funds		8,685	18,012

For the year ending 30 June 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 its 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 and 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Small Entities (effective 2015).

The notes on pages 3 to 5 form an integral part of these financial statements.
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Poulton & Lockyer (Builders) Limited

(Registration number: 01118064)
Abbreviated Balance Sheet as at 30 June 2016

Approved by the Board on 20 December 2016 and signed on its behalf by:

.........................................
DE Poulton
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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Poulton & Lockyer (Builders) Limited

Notes to the Abbreviated Accounts

Accounting policies

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of building services to customers during the year. Turnover is recognised at the earlier of when individual contracts are completed or when interim payments are made by customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Goodwill

Acquired goodwill is written off in equal annual instalments over its useful estimated economic life.

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
Computer equipment	33% straight line
Plant and machinery	25% straight line

Investment properties

In accordance with SSAP 19, investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve, except where a deficit on an individual investment property is expected to be permanent in which case it is charged (or credited, where a deficit is reversed) to the profit and loss account for the period. No depreciation is provided in respect of investment properties. The Companies Act requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in SSAP 19. The director considers that, because these properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt the requirements of SSAP 19 in order to give a true and fair view. If this departure from the Act has not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified, because only one depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

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Poulton & Lockyer (Builders) Limited

Notes to the Abbreviated Accounts

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from timing differences between the of recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 July 2015	132,033	192,156	324,189
Additions	-	13,739	13,739
At 30 June 2016	132,033	205,895	337,928
Depreciation
At 1 July 2015	132,032	2,901	134,933
Charge for the year	-	424	424
At 30 June 2016	132,032	3,325	135,357
Net book value
At 30 June 2016	1	202,570	202,571
At 30 June 2015	1	189,255	189,256

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Poulton & Lockyer (Builders) Limited

Notes to the Abbreviated Accounts

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary shares of £1 each	5,800	5,800	5,800	5,800

Related party transactions

Transactions with directors

2016	At 1 July 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 30 June 2016 £
DE Poulton
Loan account	6,333	13,392	(10,000)	-	9,725


Mrs L Bungay
Loan account	-	1,200	(8,000)	-	(6,800)


KA Bungay
Loan account	-	8,629	-	-	8,629

The company provided the directors with a current account where items of personal expenditure paid for by the company were charged. The amounts were repaid by direct repayments made by the directors and by way of the award of bonuses to the directors. All advances were interest free, unsecured and repayable on demand.

2015	At 1 July 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 30 June 2015 £
DE Poulton
Loan account	(2,912)	34,183	(24,938)	-	6,333

Dividends paid to directors

	2016 £	2015 £
DE Poulton
Dividends	10,000	22,500

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