Trailerman Limited
Trailerman Limited
Registered number: 04985842
Financial Statements
For The Year Ended 29 February 2016
In-Compass Consultants
Certified Public Accountants
35 Oxford Street
Pontycymer
Bridgend
CF32 8DD
Trailerman Limited
Unaudited Financial Statements
For The Year Ended 29 February 2016
Unaudited Financial Statements
Contents | |
Page | |
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Accountants' Report | 1 |
Balance Sheet | 2—3 |
Statement of Changes in Equity | 4 |
Notes to the Financial Statements | 5—8 |
Trailerman Limited
Accountants' Report
For The Year Ended 29 February 2016
Accountants' Report
In accordance with the engagement letter dated 01 April 2016, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 29 February 2016 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Certified Public Accountants
35 Oxford Street
Pontycymer
Bridgend
CF32 8DD
Page 1
Trailerman Limited
Balance Sheet
As at
29 February 2016
Balance Sheet
Registered number:
04985842
For the year ending 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
2016 | |||
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Notes | £ | £ | |
FIXED ASSETS | |||
Tangible Assets | 7 |
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CURRENT ASSETS | |||
Stocks | 8 |
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Debtors | 9 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 10 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 11 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||
Called up share capital | 13 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS | 25,287 | ||
Page 2
Trailerman Limited
Balance Sheet (continued)
As at
29 February 2016
Directors' responsibilities:
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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.
On behalf of the board
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The notes on pages 5 to 8 form part of these financial statements.
Page 3
Trailerman Limited
Statement of Changes in Equity
For The Year Ended 29 February 2016
Statement of Changes in Equity
Share Capital | Profit & Loss Account | Total | |
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£ | £ | £ | |
As at |
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13,366 |
Profit for the year and total comprehensive income | - |
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71,421 |
Dividends paid | - | (59,500) | (59,500) |
As at |
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25,287 |
Page 4
Trailerman Limited
Notes to the Unaudited Accounts
For The Year Ended 29 February 2016
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
2016 | |
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£ | |
Wages and salaries |
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Page 5
Trailerman Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 29 February 2016
4.
Average number of employees
Average number of employees, including directors, during the year was as follows:
2016 | |
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Office and administration |
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5.
Interest Payable
2016 | |
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£ | |
Bank loans and overdrafts |
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Other finance charges |
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7.
Tangible Assets
Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | £ | £ | |
Cost | |||||
As at |
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Additions |
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As at |
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Depreciation | |||||
As at |
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Provided during the period |
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As at |
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Net Book Value | |||||
As at |
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As at |
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8.
Stocks
2016 | |
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£ | |
Stock - materials and work in progress | 23,451 |
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Page 6
Trailerman Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 29 February 2016
9.
Debtors
2016 | |
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£ | |
Due within one year | |
Trade debtors |
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10.
Creditors: Amounts Falling Due Within One Year
2016 | |
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£ | |
Trade creditors |
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Corporation tax |
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Other taxes and social security |
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VAT |
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Net wages | 843 |
Directors' loan accounts |
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Cumulative preference share dividends unpaid |
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11.
Creditors: Amounts Falling Due After More Than One Year
2016 | |
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£ | |
Net obligations under finance lease and hire purchase contracts |
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12.
Obligations Under Finance Leases and Hire Purchase
2016 | |
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£ | |
The maturity of these amounts is as follows: | |
Amounts Payable: | |
Between one and five years |
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14.
Transactions With and Loans to Directors
Page 7
Trailerman Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 29 February 2016
Dividends paid to directors
15.
Dividends
2016 | |
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£ | |
On equity shares: | |
Final dividend paid |
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59,500 | |
16.
Ultimate Controlling Party
The company's ultimate controlling party is R J Thomas by virtue of his ownership of 34% of the issued share capital in the company.
17.
General Information
Trailerman Limited Registered number 04985842 is a limited by shares company incorporated in England & Wales. The Registered Office is 35 Oxford Street, Pontycymer, Bridgend, CF32 8DD.
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