EDI_SURVEYS_LIMITED - Accounts
EDI_SURVEYS_LIMITED - Accounts
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
Company Registration No. 01140589 (England and Wales)
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EDI SURVEYS LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EDI Surveys Limited for the year ended 30 September 2016 set out on pages 3 to 9 from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of EDI Surveys Limited, as a body, in accordance with the terms of our engagement letter dated 17 May 2016. Our work has been undertaken solely to prepare for your approval the financial statements of EDI Surveys Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EDI Surveys Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that EDI Surveys Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of EDI Surveys Limited. You consider that EDI Surveys Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of EDI Surveys Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Churchgate Accountants Limited
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(205,316 )
(249,401 )
Net current assets
Total assets less current liabilities
Provisions for liabilities
(35,312 )
(23,689 )
550,426
530,131
Capital and reserves
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 5 January 2017
Director
Company Registration No. 01140589
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
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1
Accounting policies
1.1
Accounting convention
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
1.4
Tangible fixed assets and depreciation
Plant and machinery
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
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.
1.9
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
527,280
Additions
145,376
Disposals
(192,818)
At 30 September 2016
479,838
Depreciation
At 1 October 2015
277,480
On disposals
(137,601)
Charge for the year
87,986
At 30 September 2016
227,865
Net book value
At 30 September 2016
251,973
At 30 September 2015
249,800
3
Related party relationships and transactions
During the year rent was paid to EDI Surveys Executive Pension Scheme amounting to £28,000 (2015: £28,000).
During the year, dividends were paid to P A Connor amounting to £77,678 (2015: £76,993).
During the year, dividends were paid to C Connor amounting to £51,786 (2015: £51,328).