STONEHAM_CONSTRUCTION_LIM - Accounts

STONEHAM CONSTRUCTION LIMITED - Company Information

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Company Registration No. 02528618 (England and Wales)

STONEHAM CONSTRUCTION LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

STONEHAM CONSTRUCTION LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

STONEHAM CONSTRUCTION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

101,664

139,745

Current assets

Stocks

1,550

19,579

Debtors

1,404,965

1,245,846

Cash at bank and in hand

11,509

153,798

1,418,024

1,419,223

Creditors: amounts falling due within one year

(947,529)

(1,083,515)

Net current assets

470,495

335,708

Total assets less current liabilities

572,159

475,453

Creditors: amounts falling due after more than one year

(6,399)

(17,291)

Provisions for liabilities

(19,200)

(17,700)

546,560

440,462

Capital and reserves

Called up share capital

250,000

Profit and loss account

296,560

190,462

Shareholders' funds

546,560

440,462

STONEHAM CONSTRUCTION LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2016

- 2 -

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 3 March 2017

Mr D Harris

Director

Company Registration No. 02528618

STONEHAM CONSTRUCTION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% straight line

Computer equipment

33% straight line

Fixtures, fittings and equipment

15% straight line

Commercial vehicles

15% straight line

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

Stock and work in progress

Stock is valued at the lower of cost and net realisable value.

1.7

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 less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Full provision is made for losses on all contracts in the year in which the loss is first foreseen.

1.8

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.

1.9

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.

STONEHAM CONSTRUCTION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 October 2015

500,024

Additions

8,125

At 30 September 2016

508,149

Depreciation

At 1 October 2015

360,279

Charge for the year

46,206

At 30 September 2016

406,485

Net book value

At 30 September 2016

101,664

At 30 September 2015

139,745

Debtors

Debtors include an amount of £0 (2015 - £20,383) which is due after more than one year.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £10,892 (2015 - £18,884).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £6,399 (2015 - £17,291).

Share capital

2016

2015

Allotted, called up and fully paid

250,000 Ordinary shares of £1 each

250,000