GLOUCESTER_ASBESTOS_LIMIT - Accounts

GLOUCESTER ASBESTOS LTD - Company Information

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Company Registration No. 06860795 (England and Wales)

GLOUCESTER ASBESTOS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

GLOUCESTER ASBESTOS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

GLOUCESTER ASBESTOS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

274,588

201,050

Current assets

Stocks

2,000

8,000

Debtors

71,942

44,832

Cash at bank and in hand

11,568

85,510

52,832

Creditors: amounts falling due within one year

(207,308)

(150,261)

Net current liabilities

(121,798)

(97,429)

Total assets less current liabilities

152,790

103,621

Creditors: amounts falling due after more than one year

(19,313)

(14,935)

Provisions for liabilities

(41,476)

(30,995)

92,001

57,691

Capital and reserves

Called up share capital

100

Profit and loss account

91,901

57,591

Shareholders' funds

92,001

57,691

GLOUCESTER ASBESTOS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

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 22 December 2016

S J Bishop

Director

Company Registration No. 06860795

GLOUCESTER ASBESTOS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

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

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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

15% on reducing balance

Fixtures, fittings & equipment

15% on reducing balance

Motor vehicles

15% on reducing balance

Fixed assets

Tangible assets

Cost

At 1 April 2015

341,577

Additions

121,995

At 31 March 2016

463,572

Depreciation

At 1 April 2015

140,528

Charge for the year

48,456

At 31 March 2016

188,984

Net book value

At 31 March 2016

274,588

At 31 March 2015

201,050

Share capital

2016

2015

Allotted, called up and fully paid

100 of £1 each

100