Corebuild Joinery & Building Services Ltd - Period Ending 2016-08-31

Registration number: 08642069

Corebuild Joinery & Building Services Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Northern Accountants Ltd
Olympus House
2 Howley Park Business Village
Leeds
West Yorkshire
LS27 0BZ

Corebuild Joinery & Building Services Ltd
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.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Corebuild Joinery & Building Services Ltd
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Corebuild Joinery & Building Services Ltd for the year ended 31 August 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 Corebuild Joinery & Building Services Ltd , 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 Corebuild Joinery & Building Services Ltd and state those matters that we have agreed to state to them.

It is your duty to ensure that Corebuild Joinery & Building Services Ltd 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 Corebuild Joinery & Building Services Ltd. You consider that Corebuild Joinery & Building Services Ltd 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 Corebuild Joinery & Building Services Ltd. 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.

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

Northern Accountants Ltd
Olympus House
2 Howley Park Business Village
Leeds
West Yorkshire
LS27 0BZ

19 October 2016

Page 1

Corebuild Joinery & Building Services Ltd
(Registration number: 08642069)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					6,000			8,000
Tangible fixed assets					5,130			6,600
					11,130			14,600
Current assets
Stocks					15,537			3,000
Debtors					25,104			68,374
Cash at bank and in hand					111,029			14,601
					151,670			85,975
Creditors: Amounts falling due within one year					(121,395)			(58,691)
Net current assets					30,275			27,284
Net assets					41,405			41,884
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					41,404			41,883
Shareholders' funds					41,405			41,884

For the year ending 31 August 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 19 October 2016

.........................................
Mr Tom Holliday
Director

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

Corebuild Joinery & Building Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 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 Method - 20%

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
Motor Vehicles	Written Down Value - 25%
Tools and Equipment	Written Down Value - 20%

Stock and work in progress

Work in progress is 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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Corebuild Joinery & Building Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2015		10,000			8,500			18,500
At 31 August 2016		10,000			8,500			18,500
Depreciation
At 1 September 2015		2,000			1,900			3,900
Charge for the year		2,000			1,470			3,470
At 31 August 2016		4,000			3,370			7,370
Net book value
At 31 August 2016		6,000			5,130			11,130
At 31 August 2015		8,000			6,600			14,600

3	Share capital

Allotted, called up and fully paid shares

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

Page 4