ACCOUNTS - Final Accounts preparation

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED - Company Information

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Registered number: 03622012

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED

UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED

The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED
FOR THE YEAR ENDED 31 AUGUST 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Landfill Pipe & Construction Services Limited for the year ended 31 August 2016 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/
regulations-standards-and-guidance.

This report is made solely to the Board of directors of Landfill Pipe & Construction Services Limited, as a body, in accordance with the terms of our engagement letter dated 2 March 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Landfill Pipe & Construction Services Limited and state those matters that we have agreed to state to the Board of directors of Landfill Pipe & Construction Services Limited, as a body, in this report in accordance with ICAEW Technical release TECH07/16AAF . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landfill Pipe & Construction Services Limited and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that Landfill Pipe & Construction Services 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 Landfill Pipe & Construction Services Limited. You consider that Landfill Pipe & Construction Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Landfill Pipe & Construction Services 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.

MA Partners LLP

Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ

3 February 2017

Page 1

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED

REGISTERED NUMBER: 03622012

ABBREVIATED BALANCE SHEET

AS AT 31 AUGUST 2016

2016

2015

	Note	£	£	£	£
FIXED ASSETS
Tangible assets	2		172,317		131,668

CURRENT ASSETS
Stocks	12,172		14,522
Debtors	173,714		102,370
Cash at bank and in hand	271,915		265,350

	457,801		382,242
CREDITORS: amounts falling due within one year	(173,108)		(169,022)
NET CURRENT ASSETS		284,693		213,220

TOTAL ASSETS LESS CURRENT LIABILITIES

457,010

344,888

CREDITORS: amounts falling due after more than one year	(52,097)	(35,264)
PROVISIONS FOR LIABILITIES
Deferred tax	(29,404)	(18,479)
NET ASSETS	375,509	291,145

CAPITAL AND RESERVES
Called up share capital	3	2	2
Profit and loss account		375,507	291,143

SHAREHOLDERS' FUNDS

375,509

291,145

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 August 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Page 2

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED

ABBREVIATED BALANCE SHEET (continued)

AS AT 31 AUGUST 2016

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 3 February 2017.

M K Grady

Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		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).

	1.2	Turnover
		Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on the expenditure incurred in relation to the contract. These amounts are recorded as accrued income and included as part of debtors due within one year.

	1.3	Tangible fixed assets and depreciation
		Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property	-	Not depreciated
Plant & machinery	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Fixtures & fittings	-	20% reducing balance
Computer equipment	-	33% straight line

	1.4	Leasing and hire purchase
		Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. 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.

	1.5	Stocks
		Stocks are valued at the lower of cost and net realisable value.

Page 4

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

1.ACCOUNTING POLICIES (continued)

	1.6	Deferred taxation
		Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
		A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

	1.7	Pensions
		The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2.TANGIBLE FIXED ASSETS

		£
	Cost
	At 1 September 2015	418,561
	Additions	111,312
	Disposals	(80,821)
	At 31 August 2016	449,052

	Depreciation
	At 1 September 2015	286,893
	Charge for the year	45,011
	On disposals	(55,169)
	At 31 August 2016	276,735

	Net book value
	At 31 August 2016	172,317
	At 31 August 2015	131,668

3.SHARE CAPITAL

	2016	2015
	£	£
Allotted, called up and fully paid

2 Ordinary shares of £1 each	2	2

Page 5

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

3.SHARE CAPITAL (continued)

Page 6