A D Howard Building Contractors Ltd Small abbreviated accounts

A D Howard Building Contractors Ltd Small abbreviated accounts

AD HOWARD BUILDING CONTRACTORS LIMITED - Company Information

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FY Private Limited Company Company accounts 2017-04-04 2017-04-04 false true false false false false false false false false false false true true 2015-08-01 true xbrli:pure xbrli:shares iso4217:GBP 04766800 2015-08-01 2016-07-31 04766800 2016-07-31 04766800 2015-07-31 04766800 2015-07-31 04766800 uk-gaap:PlantMachinery 2015-08-01 2016-07-31 04766800 uk-gaap:FixturesFittings 2015-08-01 2016-07-31 04766800 uk-gaap:OfficeEquipment 2015-08-01 2016-07-31 04766800 uk-gaap:NetGoodwill 2015-08-01 2016-07-31 04766800 uk-bus:OrdinaryShareClass1 2015-08-01 2016-07-31 04766800 uk-bus:Director1 2015-08-01 2016-07-31 04766800 uk-gaap:AllSubsidiaries 2015-08-01 2016-07-31 04766800 uk-gaap:AfterOneYear 2016-07-31 04766800 uk-gaap:AfterOneYear 2015-07-31 04766800 uk-bus:OrdinaryShareClass1 2016-07-31 04766800 uk-bus:OrdinaryShareClass1 2015-07-31 04766800 uk-lang:English 2015-08-01 2016-07-31 04766800 uk-curr:PoundSterling 2015-08-01 2016-07-31
COMPANY REGISTRATION NUMBER 04766800
A D HOWARD BUILDING CONTRACTORS LTD
UNAUDITED ABBREVIATED ACCOUNTS
YEAR ENDED
31 July 2016
A D HOWARD BUILDING CONTRACTORS LTD
ABBREVIATED BALANCE SHEET
31 July 2016
2016
2015
Note
£
£
£
£
FIXED ASSETS
2
Intangible assets
8,750
10,000
Tangible assets
354,166
354,963
----------
----------
362,916
364,963
CURRENT ASSETS
Stocks
36,900
65,750
Debtors
139,310
38,309
Cash at bank and in hand
38,318
10,809
----------
----------
214,528
114,868
CREDITORS: Amounts falling due within one year
149,429
140,501
----------
----------
NET CURRENT ASSETS/(LIABILITIES)
65,099
( 25,633)
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
428,015
339,330
CREDITORS: Amounts falling due after more than one year
3
227,728
230,224
PROVISIONS FOR LIABILITIES
4,551
4,800
----------
----------
195,736
104,306
----------
----------
CAPITAL AND RESERVES
Called up equity share capital
4
100
100
Profit and loss account
195,636
104,206
----------
----------
SHAREHOLDERS' FUNDS
195,736
104,306
----------
----------
For the year ended 31 July 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 accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 28 March 2017 , and are signed on their behalf by:
Mr A D Howard Director
Company Registration Number: 04766800
A D HOWARD BUILDING CONTRACTORS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 JULY 2016
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, net of VAT. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill-5%
Fixed assets
All fixed assets are initially recorded at cost .
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment-15%
Vans-15%
Office Equipment-20%
No depreciation is provided on land or investment properties.
Investment properties
In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2015) the investment properties have not been depreciated. This represents a departure from the Companies Act 2006 to provide depreciation on any fixed asset which has a limited economic life. The departure is considered necessary to comply with the overriding requirement to show a true and fair view.
Any changes in the market value of investment properties are shown as movements on Revaluation Reserve unless a deficit is expected to be permanent in which case it is charged to the profit and loss account.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may crystallise.
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.
2. FIXED ASSETS
Intangible Assets
Tangible Assets
Total
£
£
£
COST
At 1 August 2015
25,000
387,176
412,176
Additions
–
10,585
10,585
Disposals
–
( 25,542)
(25,542)
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----------
----------
At 31 July 2016
25,000
372,219
397,219
--------
----------
----------
DEPRECIATION
At 1 August 2015
15,000
32,213
47,213
Charge for year
1,250
4,030
5,280
On disposals
–
( 18,190)
(18,190)
--------
--------
--------
At 31 July 2016
16,250
18,053
34,303
--------
--------
--------
NET BOOK VALUE
At 31 July 2016
8,750
354,166
362,916
-------
----------
----------
At 31 July 2015
10,000
354,963
364,963
--------
----------
----------
3. CREDITORS: Amounts falling due after more than one year
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
2016
2015
£
£
Bank loans and overdrafts
224,261
224,157
----------
----------
4. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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