Apex Screed And Flooring Specialists Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06927230 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Apex Screed And Flooring Specialists

Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T K Tobin

F L Tobin

SECRETARY:

T Tobin

REGISTERED OFFICE:

276 Newbrook Road

Atherton

Manchester

United Kingdom

M46 9HF

REGISTERED NUMBER:

06927230 (England and Wales)

ACCOUNTANTS:

Higsons Limited

Chartered Accountants

93 Market Street

Farnworth

Bolton

BL4 7NS

FIXED ASSETS

Tangible assets

2

40,804

49,098

CURRENT ASSETS

Stocks

28,227

27,339

Debtors

124,252

151,368

Cash at bank and in hand

51,680

11,680

204,159

190,387

CREDITORS

Amounts falling due within one year

3

181,175

165,895

NET CURRENT ASSETS

22,984

24,492

TOTAL ASSETS LESS CURRENT LIABILITIES

63,788

73,590

CREDITORS

Amounts falling due after more than one year

3

(23,770

)

(25,691

)

PROVISIONS FOR LIABILITIES

(8,161

)

(9,820

)

NET ASSETS

31,857

38,079

CAPITAL AND RESERVES

Called up share capital

4

12

12

Profit and loss account

31,845

38,067

SHAREHOLDERS' FUNDS

31,857

38,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 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 29 September 2016 and were signed on its behalf by:

T K Tobin - Director

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 is the amount derived from ordinary activities,excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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 items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

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 July 2015

69,791

Additions

20,825

Disposals

(21,440

)

At 30 June 2016

69,176

DEPRECIATION

At 1 July 2015

20,693

Charge for year

13,601

Eliminated on disposal

(5,922

)

At 30 June 2016

28,372

NET BOOK VALUE

At 30 June 2016

40,804

At 30 June 2015

49,098

3.

CREDITORS

Creditors include an amount of £ 29,957 (30.6.15 - £ 31,715 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

12

Ordinary

£1

12

12