Charman Environmental Services Limited - Period Ending 2016-03-31

Registration number: 04545837

Charman Environmental Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Charman Environmental Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Charman Environmental Services Limited
(Registration number: 04545837)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					57,254			28,702
Current assets
Debtors					39,424			34,043
Cash at bank and in hand					75,051			49,335
					114,475			83,378
Creditors: Amounts falling due within one year					(54,360)			(43,488)
Net current assets					60,115			39,890
Total assets less current liabilities					117,369			68,592
Creditors: Amounts falling due after more than one year					(8,625)			-
Net assets					108,744			68,592
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					108,742			68,590
Shareholders' funds					108,744			68,592

For the year ending 31 March 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 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 .

Approved by the Board on 19 December 2016 and signed on its behalf by:

.........................................
Mr S L Charman
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Charman Environmental Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill is amortised evenly over its useful economic life of 5 years.

Asset class	Amortisation method and rate
Goodwil	5 years

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Motor vehicles	25% on reducing balance

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

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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Charman Environmental Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		20,000			76,525			96,525
Additions		-			51,000			51,000
Disposals		-			(17,495)			(17,495)
At 31 March 2016		20,000			110,030			130,030
Depreciation
At 1 April 2015		20,000			47,823			67,823
Charge for the year		-			18,382			18,382
Eliminated on disposals		-			(13,429)			(13,429)
At 31 March 2016		20,000			52,776			72,776
Net book value
At 31 March 2016		-			57,254			57,254
At 31 March 2015		-			28,702			28,702

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

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