FIVE_OAKS_SCAFFOLDING_LTD - Accounts

FIVE OAKS SCAFFOLDING LIMITED - Company Information

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Company Registration No. 06086602 (England and Wales)

FIVE OAKS SCAFFOLDING LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

FIVE OAKS SCAFFOLDING LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

FIVE OAKS SCAFFOLDING LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

30,821

21,342

Current assets

Debtors

27,024

5,347

Cash at bank and in hand

24,619

6,331

51,643

11,678

Creditors: amounts falling due within one year

(58,251)

(26,320)

Net current liabilities

(6,608)

(14,642)

Total assets less current liabilities

24,213

6,700

Provisions for liabilities

(5,115)

(2,988)

19,098

3,712

Capital and reserves

Called up share capital

300

Profit and loss account

18,798

3,412

Shareholders' funds

19,098

3,712

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.

Director's 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 director acknowledges his 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 23 December 2016

Mr M Green

Director

Company Registration No. 06086602

FIVE OAKS SCAFFOLDING LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

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).

At the year end the company shows an net current liabilities in the amount of £ 6,608 (2015: £ 14,642). The company meets its day to day working capital requirements via the support of its director and the creditors. The director has no reason to believe that this support will be withdrawn within twelve months from the date of signature of these financial statements. On this basis the director considers it appropriate to prepare these financial statements on a going concern basis.

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:

Fixtures, fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

FIVE OAKS SCAFFOLDING LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

61,658

Additions

18,551

Disposals

(4,600)

At 31 March 2016

75,609

Depreciation

At 1 April 2015

40,316

On disposals

(1,636)

Charge for the year

6,108

At 31 March 2016

44,788

Net book value

At 31 March 2016

30,821

At 31 March 2015

21,342

Share capital

2016

2015

Allotted, called up and fully paid

300 Ordinary shares of £1 each

300

Related party relationships and transactions

Other transactions

As the year end the director was owed the following amounts via his directors' current account. Mr M V Green £ nil (2015: £ 633). During the year the director received an interest free loan from the company and Mr M V Green owed £ 8,558 (2015: £ nil) at the year end.

The director has given a personal guarantee against the company's bank facilities.