Abbreviated Company Accounts - JAMES ALLAN BUILDERS (CARLISLE) LIMITED

Abbreviated Company Accounts - JAMES ALLAN BUILDERS (CARLISLE) LIMITED

JAMES ALLAN BUILDERS (CARLISLE) LIMITED - Company Information

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Registered Number 01107237

JAMES ALLAN BUILDERS (CARLISLE) LIMITED

Abbreviated Accounts

31 May 2016

JAMES ALLAN BUILDERS (CARLISLE) LIMITED Registered Number 01107237

Abbreviated Balance Sheet as at 31 May 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 5,997 7,058
5,997 7,058
Current assets
Stocks 224,801 340,780
Debtors 447,037 420,502
Cash at bank and in hand 214,266 102,378
886,104 863,660
Creditors: amounts falling due within one year 3 (68,144) (225,385)
Net current assets (liabilities) 817,960 638,275
Total assets less current liabilities 823,957 645,333
Total net assets (liabilities) 823,957 645,333
Capital and reserves
Called up share capital 4 200 200
Profit and loss account 823,757 645,133
Shareholders' funds 823,957 645,333
  • For the year ending 31 May 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 directors acknowledge their 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 Board on 28 February 2017

And signed on their behalf by:
MR S J ALLAN, Director

JAMES ALLAN BUILDERS (CARLISLE) LIMITED Registered Number 01107237

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Revenue is recognised upon the sale of property or completion of work.

Tangible assets depreciation policy
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:
Plant and machinery - 15% reducing balance
Equipment - 15% reducing balance

Other accounting policies
Stocks and work in progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets
£
Cost
At 1 June 2015 129,579
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2016 129,579
Depreciation
At 1 June 2015 122,521
Charge for the year 1,061
On disposals -
At 31 May 2016 123,582
Net book values
At 31 May 2016 5,997
At 31 May 2015 7,058
3Creditors
2016
£		 2015
£
Secured Debts 0 140,000
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
56 A Ordinary shares of £1 each 56 56
48 B Ordinary shares of £1 each 48 48
48 C Ordinary shares of £1 each 48 48
48 D Ordinary shares of £1 each 48 48

5Transactions with directors

Name of director receiving advance or credit: Directors 3 and 4
Description of the transaction: Directors' loan account
Balance at 1 June 2015: £ 0
Advances or credits made: £ 96,023
Advances or credits repaid: £ 62,433
Balance at 31 May 2016: £ 33,590

All the loans are unsecured and repayable on demand.