Ultraquick Hire Ltd - Period Ending 2016-03-31

Registration number: 08941004

Ultraquick Hire Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Additions Plus Limited
Unit 13
Progress Busness Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

Ultraquick Hire Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Ultraquick Hire Ltd
(Registration number: 08941004)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			31 March 2015 £
Fixed assets
Tangible fixed assets					85,843			24,209
Current assets
Debtors					26,267			24,763
Cash at bank and in hand					3,796			4,624
					30,063			29,387
Creditors: Amounts falling due within one year					(89,431)			(60,201)
Net current liabilities					(59,368)			(30,814)
Total assets less current liabilities					26,475			(6,605)
Creditors: Amounts falling due after more than one year					(45,575)			-
Net liabilities					(19,100)			(6,605)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(19,200)			(6,705)
Shareholders' deficit					(19,100)			(6,605)

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 director acknowledges his 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 director on 23 November 2016

.........................................
Mr Sukhbir Singh Sidhu
Director

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

Ultraquick Hire Ltd
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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost ot valuation less estimtated residual value of each asset over its expected useful life, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	33% reducing balance

Hire purchase and leasing

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.

Page 2

Ultraquick Hire Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		32,915			32,915
Additions		92,234			92,234
At 31 March 2016		125,149			125,149
Depreciation
At 1 April 2015		8,706			8,706
Charge for the year		30,600			30,600
At 31 March 2016		39,306			39,306
Net book value
At 31 March 2016		85,843			85,843
At 31 March 2015		24,209			24,209

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 March 2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3