GWN Contracts Ltd - Abbreviated accounts 16.3

GWN Contracts Ltd - Abbreviated accounts 16.3

GWN CONTRACTS LIMITED - Company Information

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REGISTERED NUMBER: 04703606 (England and Wales)


















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

GWN CONTRACTS LTD

GWN CONTRACTS LTD (REGISTERED NUMBER: 04703606)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

GWN CONTRACTS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2016







DIRECTORS: G Walsh
P Mulvanny





REGISTERED OFFICE: 13 Britannia Street
Great Harwood
Blackburn
Lancashire
BB6 7QX





REGISTERED NUMBER: 04703606 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB
Page 1
GWN CONTRACTS LTD (REGISTERED NUMBER: 04703606)

ABBREVIATED BALANCE SHEET
31 March 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 287,734 299,408

CURRENT ASSETS
Amounts recoverable on
contracts 490,840 763,840
Debtors 248,399 189,627
Cash at bank 300,822 200,314
1,040,061 1,153,781
CREDITORS
Amounts falling due within one year 3 913,428 1,089,463
NET CURRENT ASSETS 126,633 64,318
TOTAL ASSETS LESS CURRENT
LIABILITIES
414,367
363,726

CREDITORS
Amounts falling due after more than one
year
3
242,101
253,229
NET ASSETS 172,266 110,497

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 172,166 110,397
SHAREHOLDERS' FUNDS 172,266 110,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 or 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 notes form part of these abbreviated accounts

Page 2 continued...
GWN CONTRACTS LTD (REGISTERED NUMBER: 04703606)

ABBREVIATED BALANCE SHEET - continued
31 March 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 22 December 2016 and were signed on its behalf
by:





G Walsh - Director


The notes form part of these abbreviated accounts

Page 3
GWN CONTRACTS LTD (REGISTERED NUMBER: 04703606)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 March 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements 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 the net invoiced value of services provided, excluding value added tax. Turnover also
includes a proportion of the sales value of long term contracts relevant to their state of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Amounts recoverable on contracts
Contracts are accounted for in accordance with SSAP 9 (revised). The difference between work done and
invoices raised on a contract is recognised as amounts recoverable on contracts. Any excess payments on account
over and above the value of work done are included in creditors.

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 commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 370,574
DEPRECIATION
At 1 April 2015 71,166
Charge for year 11,674
At 31 March 2016 82,840
NET BOOK VALUE
At 31 March 2016 287,734
At 31 March 2015 299,408

3. CREDITORS

Creditors include an amount of £ 255,851 (2015 - £ 266,979 ) for which security has been given.

Page 4 continued...
GWN CONTRACTS LTD (REGISTERED NUMBER: 04703606)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 March 2016

3. CREDITORS - continued

They also include the following debts falling due in more than five years:

2016 2015
£    £   
Repayable by instalments 187,101 198,229

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary Shares £1 100 100

Page 5