O'Hagan Contracts Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07705899 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

O'HAGAN CONTRACTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P G O'Hagan

REGISTERED OFFICE:

2 Mountside

Stanmore

Middlesex

HA7 2DT

REGISTERED NUMBER:

07705899 (England and Wales)

ACCOUNTANTS:

Mountsides Limited

Chartered Accountants

2 Mountside

Stanmore

Middlesex

HA7 2DT

FIXED ASSETS

Tangible assets

2

150,901

134,154

CURRENT ASSETS

Debtors

327,176

229,869

Cash at bank and in hand

61,349

68,182

388,525

298,051

CREDITORS

Amounts falling due within one year

3

213,234

164,129

NET CURRENT ASSETS

175,291

133,922

TOTAL ASSETS LESS CURRENT
LIABILITIES

326,192

268,076

CREDITORS

Amounts falling due after more than one year

3

(41,551

)

(68,769

)

PROVISIONS FOR LIABILITIES

(29,278

)

(25,031

)

NET ASSETS

255,363

174,276

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

255,263

174,176

SHAREHOLDERS' FUNDS

255,363

174,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 April 2017 and were signed by:

P G O'Hagan - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net invoiced sales of services, excluding value added tax. Turnover has also been recognised on

contracts in progress, with the value of work completed but unbilled at the balance sheet date being taken to turnover and

the associated costs, where not invoiced at that date, being accrued for.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

215,423

Additions

69,085

Disposals

(3,500

)

At 31 July 2016

281,008

DEPRECIATION

At 1 August 2015

81,269

Charge for year

50,954

Eliminated on disposal

(2,116

)

At 31 July 2016

130,107

NET BOOK VALUE

At 31 July 2016

150,901

At 31 July 2015

134,154

3.

CREDITORS

Creditors include an amount of £ 95,273 (2015 - £ 121,737 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100