Accounts filed on 28-02-2017

Accounts filed on 28-02-2017

ABBEYGATE CONSTRUCTION LTD - Company Information

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Registered number: 07959821
Abbeygate Construction Ltd
ACCOUNTS
FOR THE YEAR ENDED 28/02/2017
Prepared By:
M H Accountancy
The Croft
Windsor Green
Cockfield
Bury St Edmunds
IP30 0LY
Abbeygate Construction Ltd
ACCOUNTS
FOR THE YEAR ENDED 28/02/2017
DIRECTORS
Jason Milward
Matthew Gray
REGISTERED OFFICE
Forge Cottage
Great Green
Cockfield
Bury St Edmunds
IP30 0HJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07959821
ACCOUNTANTS
M H Accountancy
The Croft
Windsor Green
Cockfield
Bury St Edmunds
IP30 0LY
Abbeygate Construction Ltd
ACCOUNTS
FOR THEYEARENDED28/02/2017
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts5
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Abbeygate Construction Ltd
BALANCE SHEET AT 28/02/2017
20172016
Notes££
FIXED ASSETS
Tangible assets212,25417,448
CURRENT ASSETS
Stock7,96010,250
Debtors44,02214,203
Cash at bank and in hand4,83722,977
16,81947,430
CREDITORS: Amounts falling due within one year518,65347,491
NET CURRENT LIABILITIES(1,834)(61)
TOTAL ASSETS LESS CURRENT LIABILITIES10,42017,387
CREDITORS: Amounts falling due after more than one year67,99713,267
PROVISIONS FOR LIABILITIES AND CHARGES82,4513,489
NET (LIABILITIES) / ASSETS(28)631
CAPITAL AND RESERVES
Called up share capital911
Profit and loss account(29)630
SHAREHOLDERS' FUNDS(28)631
Abbeygate Construction Ltd
BALANCE SHEET AT 28/02/2017
For the year ending 28/02/2017 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on 10/05/2017 and signed on their behalf by
.............................
Jason Milward
Director
.............................
Matthew Gray
Director
Abbeygate Construction Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28/02/2017
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
These financial statements have been prepared on the going concern basis. There was a net deficiency of assets of £28 at the balance sheet date, however the directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future.
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 15%
Commercial Vehiclesreducing balance 25%
Equipmentreducing balance 25%
1d. Stocks
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.
Abbeygate Construction Ltd
2. TANGIBLE FIXED ASSETS
Plant andCommercial
MachineryVehiclesEquipmentTotal
££££
Cost
At 29/02/20162,45127,84450030,795
Disposals-(2,395)-(2,395)
At 28/02/20172,45125,44950028,400
Depreciation
At 29/02/201687612,18228913,347
Disposals-(1,048)-(1,048)
For the year2373,578323,847
At 28/02/20171,11314,71232116,146
Net Book Amounts
At 28/02/20171,33810,73717912,254
At 28/02/20161,57515,66221117,448
3. STOCK 20172016
££
Stock comprises:
Stock materials1,3005,000
Work in progress6,6605,250
7,96010,250
4. DEBTORS 20172016
££
Amounts falling due within one year
Trade debtors78013,950
VAT752-
Prepayments153253
Directors current account - Jason Milward2,337-
4,02214,203
Abbeygate Construction Ltd
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20172016
££
UK corporation tax8337,539
VAT-4,724
CIS control2901,729
NIC control-151
Directors current account - Jason Milward-935
Directors current account - Matthew Gray2,5275,799
Hire purchase5,2704,960
Trade creditors8,68320,604
Accruals1,0501,050
18,65347,491
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20172016
££
Hire purchase >1yr7,99713,267
7,99713,267
7. EMPLOYEES
20172016
No.No.
8. PROVISIONS FOR LIABILITIES 20172016
££
Deferred taxation2,4513,489
2,4513,489
Abbeygate Construction Ltd
9. SHARE CAPITAL 20172016
££
Allotted, issued and fully paid:
2 Ordinary shares of £0.50 each11
11