Abbreviated Company Accounts - ATLANTIC ELECTRICAL NORTHWEST LIMITED

ATLANTIC ELECTRICAL NORTHWEST LIMITED - Company Information

06596907 ATLANTIC ELECTRICAL NORTHWEST LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true 06596907 2015-06-01 2016-05-31 06596907 2016-05-31 06596907 2015-05-31 06596907 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 06596907 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number 06596907

ATLANTIC ELECTRICAL NORTHWEST LIMITED

Abbreviated Accounts

31 May 2016

ATLANTIC ELECTRICAL NORTHWEST LIMITED Registered Number 06596907

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	16,046	22,007
		16,046	22,007
Current assets
Debtors		670,047	494,207
Cash at bank and in hand		167,646	106,121
		837,693	600,328
Creditors: amounts falling due within one year		(682,176)	(450,832)
Net current assets (liabilities)		155,517	149,496
Total assets less current liabilities		171,563	171,503
Creditors: amounts falling due after more than one year		(2,636)	(4,067)
Total net assets (liabilities)		168,927	167,436
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		168,926	167,435
Shareholders' funds		168,927	167,436

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 27 February 2017

And signed on their behalf by:
G McNeill, Director

ATLANTIC ELECTRICAL NORTHWEST LIMITED Registered Number 06596907

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

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover policy
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Revenue from services is recognised when the company's contractual obligations are performed. The amount of revenue reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

Tangible assets depreciation policy
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings - 25% straight line
Motor Vehicles - 25% straight line
Equipment - 25% straight line

2Tangible fixed assets

	£
Cost
At 1 June 2015	46,960
Additions	12,386
Disposals	(9,888)
Revaluations	-
Transfers	-
At 31 May 2016	49,458
Depreciation
At 1 June 2015	24,953
Charge for the year	9,694
On disposals	(1,235)
At 31 May 2016	33,412
Net book values
At 31 May 2016	16,046
At 31 May 2015	22,007

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1 Ordinary shares of £1 each	1	1