Abingdon-On-Thames Plastering Limited - Period Ending 2016-09-30

Registration number: 8711325

Abingdon-On-Thames Plastering Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

TCS Business Management Limited
  Faveo House, 2 Somerville Court
  Banbury Business Park
  Adderbury
  Banbury
  Oxfordshire
  OX17 3SN

Abingdon-On-Thames Plastering Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

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 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Abingdon-On-Thames Plastering Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Abingdon-On-Thames Plastering Limited for the year ended 30 September 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Abingdon-On-Thames Plastering 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 Abingdon-On-Thames Plastering Limited and state those matters that we have agreed to state to them, as a body, in this report with the Board of Directors of Abingdon-On-Thames Plastering Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abingdon-On-Thames Plastering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Abingdon-On-Thames Plastering 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 Abingdon-On-Thames Plastering Limited. You consider that Abingdon-On-Thames Plastering 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 Abingdon-On-Thames Plastering 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.

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

TCS Business Management Limited
Faveo House, 2 Somerville Court
Banbury Business Park
Adderbury
Banbury
Oxfordshire
OX17 3SN

21 April 2017

Page 1

Abingdon-On-Thames Plastering Limited
(Registration number: 8711325)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					16,734			19,124
Tangible fixed assets					14,693			6,863
					31,427			25,987
Current assets
Stocks					7,022			1,364
Debtors					5,854			7,586
Cash at bank and in hand					12,582			3,507
					25,458			12,457
Creditors: Amounts falling due within one year					(38,386)			(28,042)
Net current liabilities					(12,928)			(15,585)
Total assets less current liabilities					18,499			10,402
Creditors: Amounts falling due after more than one year					(7,921)			(1,166)
Provisions for liabilities					(465)			(863)
Net assets					10,113			8,373
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					10,013			8,273
Shareholders' funds					10,113			8,373

For the year ending 30 September 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 21 April 2017 and signed on its behalf by:

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Abingdon-On-Thames Plastering Limited
(Registration number: 8711325)
Abbreviated Balance Sheet at 30 September 2016
......... continued

.........................................
Mr Wayne Waldron
Director

.........................................
Mr Ryan Johnson
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Abingdon-On-Thames Plastering Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

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

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line 10 years

Depreciation

Depreciation is provided on tangible fixed assets 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	Straight line 25%
Motor vehicles	Reducing balance 20%
Office equipment	Straight line 25%

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 4

Abingdon-On-Thames Plastering Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		23,904			9,162			33,066
Additions		-			12,173			12,173
Disposals		-			(2,150)			(2,150)
At 30 September 2016		23,904			19,185			43,089
Depreciation
At 1 October 2015		4,780			2,299			7,079
Charge for the year		2,390			2,798			5,188
Eliminated on disposals		-			(605)			(605)
At 30 September 2016		7,170			4,492			11,662
Net book value
At 30 September 2016		16,734			14,693			31,427
At 30 September 2015		19,124			6,863			25,987

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 5