Chigwell ( LONDON) Limited,Ltd - AccountsLtd - Accounts

Chigwell ( LONDON) Limited,Ltd - AccountsLtd - Accounts

ALTERNATIVE MAINTENANCE SERVICES LTD - Company Information

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Draft
Chigwell ( LONDON) Limited
Registered Number:03222384
For the period ended 31 December 2016
England and Wales
Report of the Directors and Unaudited Financial Statements
2
Draft
For the period ended 31 December 2016
Chigwell ( LONDON) Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Draft
As at 31 December 2016
Chigwell ( LONDON) Limited
Statement of Financial Position
Registered Number :
03222384
£
£
2016
2016
Fixed assets
Property, plant and equipment
1,171,399
1,986,396
1,171,399
1,986,396
Current assets
Inventories
1,111,000
1,475,123
Trade and other receivables
3,011,006
1,670,450
14,793
Cash and cash equivalents
66,896
3,212,469
4,136,799
Trade and other payables: amounts falling due within one
year
(4,447,638)
(3,106,819)
(310,839)
105,650
Net current assets
Total assets less current liabilities
1,277,049
1,675,557
Trade and other payables: amounts falling due after more
than one year
(539,547)
(137,869)
1,139,180
Net assets
1,136,010
Capital and reserves
Called up share capital
50,000
50,000
Revaluation reserve
411,494
411,494
Retained earnings
677,686
674,516
1,139,180
1,136,010
Shareholders' funds
For the period ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Dean Anthony Floyd Esq. Director
These financial statements were approved and authorised for issue by the Board on 12 April 2017 and were signed by:
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4
Draft
For the period ended 31 December 2016
Chigwell ( LONDON) Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
Draft
For the period ended 31 December 2016
Chigwell ( LONDON) Limited
Notes to the Financial Statements
Statutory Information
Chigwell ( LONDON) Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03222384.
Registered address:
Aaron House Unit 8
Hainault Business Park
Forest Road Hainault
Essex
IG6 3JP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Reducing balance
over the lease term
Leasehold ancomputer equipment
25% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures and fittings
The company''s freehold properties were professionally valued in 0. This valuation has been reduced by subsequent
depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective
January 2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that
valuation has not been updated.
The company''s freehold properties are revalued in full every five years. Interim valuations are carried out when it is
likely that there has been a material change in value.
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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Draft
For the period ended 31 December 2016
Chigwell ( LONDON) Limited
Notes to the Financial Statements Continued
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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