Crapper and Sons Landfill Limited - Filleted accounts

Crapper and Sons Landfill Limited - Filleted accounts

CRAPPER & SONS LANDFILL LIMITED - Company Information

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CRAPPER AND SONS LANDFILL LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2016
Company Registration Number: 03707005
CRAPPER AND SONS LANDFILL LIMITED
ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the abbreviated financial statements 4 to 6
CRAPPER AND SONS LANDFILL LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2016
DIRECTORS
R J Crapper
L J Crapper
H C Crapper
R W L Crapper
Mrs J M Bowden
SECRETARY
R W L Crapper
REGISTERED OFFICE
Cranbrook House
287-291 Banbury Road
Oxford
OX2 7JQ
COMPANY REGISTRATION NUMBER
03707005 England and Wales
CRAPPER AND SONS LANDFILL LIMITED
BALANCE SHEET
AS AT 31 October 2016
Notes 2016 2015
£ £
FIXED ASSETS
Tangible assets 2 2,961,378 2,761,124
CURRENT ASSETS
Stock 16,500 -
Debtors 4,086,400 3,173,989
Cash at bank and in hand 447,412 940,598
4,550,312 4,114,587
CREDITORS: Amounts falling due 4,002,132 3,804,656
within one year
NET CURRENT ASSETS 548,180 309,931
TOTAL ASSETS LESS CURRENT LIABILITIES 3,509,558 3,071,055
CREDITORS: Amounts falling due 3 496,271 885,167
after more than one year
Provisions for liabilities and charges 233,318 226,134
NET ASSETS 2,779,969 1,959,754
CAPITAL AND RESERVES
Called up share capital 4 1,000 1,000
Profit and loss account 2,778,969 1,958,754
SHAREHOLDERS' FUNDS 2,779,969 1,959,754
These abbreviated accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Signed on behalf of the board of directors
R J Crapper L J Crapper
Director Director
Date approved by the board: 26 July 2017
CRAPPER AND SONS LANDFILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
1 STATEMENT OF ACCOUNTING POLICIES
Accounting convention
The accounts have been prepared under the historical cost convention and are based on accounts prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value of goods and services provided, stated net of trade discounts and value added tax.
Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation.
Depreciation has been provided at the following rates so as to write off the cost less residual value of the assets over their estimated useful lives.
Freehold land and buildings Straight line basis at 2% per annum
Plant and equipment Reducing balance basis at 15% per annum
Office equipment Reducing balance basis at 15% per annum
Motor vehicles Reducing balance basis at 25% per annum
Landfill sites are included within freehold land and buildings at cost less accumulated depreciation. Cost includes acquisition and development expenses. The cost of landfill is depreciated to its residual value over its estimated operational life.
No depreciation is provided on freehold land.
Leases
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account on a straight line basis, to produce an approximately constant rate of charge on the balance of capital repayments outstanding.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Stock
Stock has been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis. Net realisable value is based on estimated selling price less all further costs incurred to get the stock into its normal sale condition (including marketing, selling and distribution costs).
1 STATEMENT OF ACCOUNTING POLICIES (continued…)
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Deferred taxation
Deferred taxation is the taxation attributable to timing differences between profits computed for taxation purposes and profits as stated in the financial statements and is fully provided for, except in circumstances where losses are deemed irrecoverable, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
2 TANGIBLE ASSETS
Tangible assets
£
Cost
At 1 November 2015 3,578,354
Additions 594,573
Disposals (245,000)
At 31 October 2016 3,927,927
Accumulated depreciation
At 1 November 2015 817,230
Charge for year 279,217
Disposals (129,898)
At 31 October 2016 966,549
Net book value
At 1 November 2015 2,761,124
At 31 October 2016 2,961,378
3 CREDITORS: amounts falling due after more than five years
2016 2015
Aggregate of instalments which fall due for repayment after five years: £ £
Bank loans and overdrafts - 118,262
4 SHARE CAPITAL
Nominal value Number 2016 2015
£ £ £
Allotted, called up and fully paid:
Ordinary shares 1 1,000 1,000 1,000
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