Monks Electrical Contractors Limited - Period Ending 2016-07-31

Registration number: 06965092

Monks Electrical Contractors Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

GW Kelly & Co
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

Monks Electrical Contractors Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Monks Electrical Contractors Limited
for the Year Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Monks Electrical Contractors Limited for the year ended 31 July 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at icas.org.uk/Ethics.

This report is made solely to the Board of Directors of Monks Electrical Contractors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Monks Electrical Contractors Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icas.org.uk/Ethics. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Monks Electrical Contractors Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Monks Electrical Contractors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Monks Electrical Contractors Limited. You consider that Monks Electrical Contractors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Monks Electrical Contractors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

GW Kelly & Co
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

24 April 2017

Page 1

Monks Electrical Contractors Limited
(Registration number: 06965092)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					8,895			11,045
Current assets
Debtors					39,100			28,636
Cash at bank and in hand					141,212			12,170
					180,312			40,806
Creditors: Amounts falling due within one year					(113,959)			(20,085)
Net current assets					66,353			20,721
Total assets less current liabilities					75,248			31,766
Creditors: Amounts falling due after more than one year					-			(2,311)
Net assets					75,248			29,455
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					75,247			29,454
Shareholders' funds					75,248			29,455

For the year ending 31 July 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 director acknowledges his 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 director on 24 April 2017

.........................................
Mr R C Monks
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Monks Electrical Contractors Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. 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.

Depreciation

Depreciation is provided on tangible fixed aseets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and Machinery	25% net book value
Motor Vehicles	25% net book value
Office equipment	25% net book value

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Monks Electrical Contractors Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		21,186			21,186
Additions		815			815
At 31 July 2016		22,001			22,001
Depreciation
At 1 August 2015		10,141			10,141
Charge for the year		2,965			2,965
At 31 July 2016		13,106			13,106
Net book value
At 31 July 2016		8,895			8,895
At 31 July 2015		11,045			11,045

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 4