A.J. Taylor Electrical Contractors Ltd - Abbreviated accounts 16.3

A.J. Taylor Electrical Contractors Ltd - Abbreviated accounts 16.3

A.J. TAYLOR ELECTRICAL CONTRACTORS LIMITED - Company Information

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REGISTERED NUMBER: 03319595 (England and Wales)











ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

A.J. TAYLOR ELECTRICAL CONTRACTORS
LIMITED

A.J. TAYLOR ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 03319595)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

A.J. TAYLOR ELECTRICAL CONTRACTORS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2016







DIRECTOR: A J Taylor





SECRETARY: P L Taylor





REGISTERED OFFICE: 30 New Road
Brighton
East Sussex
BN1 1BN





REGISTERED NUMBER: 03319595 (England and Wales)





ACCOUNTANTS: Hilton Sharp & Clarke Limited
30 New Road
Brighton
East Sussex
BN1 1BN
Page 1
A.J. TAYLOR ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 03319595)

ABBREVIATED BALANCE SHEET
30 SEPTEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 61,349 45,780

CURRENT ASSETS
Debtors 1,108,348 1,072,342
Cash in hand 38 83
1,108,386 1,072,425
CREDITORS
Amounts falling due within one year 3 867,909 896,432
NET CURRENT ASSETS 240,477 175,993
TOTAL ASSETS LESS CURRENT
LIABILITIES
301,826
221,773

CREDITORS
Amounts falling due after more than one year 3 (118,463 ) (103,297 )

PROVISIONS FOR LIABILITIES (11,200 ) (7,800 )
NET ASSETS 172,163 110,676

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 172,063 110,576
SHAREHOLDERS' FUNDS 172,163 110,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 26 June 2017 and were signed by:





A J Taylor - Director


The notes form part of these abbreviated accounts

Page 2
A.J. TAYLOR ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 03319595)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016


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 goods, excluding value added tax, except in respect of service contracts where
turnover is recognised when the company obtains the right to consideration.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in
the profit and loss accounts turnover and related costs as contract activity progresses. Turnover is calculated as the
proportion of total contract value completed to date.

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.

Improvements to property - 10% straight line
Plant and machinery - 33% straight line, 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are
charged to the profit and loss account in the period to which they relate.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done
after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on
account. Excess progress payments are included in creditors as payments on account.

Page 3 continued...
A.J. TAYLOR ELECTRICAL CONTRACTORS
LIMITED (REGISTERED NUMBER: 03319595)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2016


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015 176,924
Additions 40,238
Disposals (20,371 )
At 30 September 2016 196,791
DEPRECIATION
At 1 October 2015 131,144
Charge for year 21,019
Eliminated on disposal (16,721 )
At 30 September 2016 135,442
NET BOOK VALUE
At 30 September 2016 61,349
At 30 September 2015 45,780

3. CREDITORS

Creditors include an amount of £ 296,417 (2015 - £ 315,202 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016 2015
£    £   
Repayable by instalments 14,502 28,147

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £1 100 100

5. RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 (2015 - £49,150) were paid to the director .

A J Taylor
The director


The company occupies premises, at a rent of £18,000 (2015 - £18,000), which are owned by the director. The company's
overdraft is secured by a charge over its premises.

Mr A J & Mrs P L Taylor owed £523 (2015 - £523) to the company at the year end in relation to work performed in 2008.
This amount is included within trade debtors.

Mr A J Taylor has issued a personal guarantee of £170,000 to the company's bankers.

At the year end, the company owed Mr A J Taylor £1,367 (2015 - £34,685).

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