Province Building Services Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06650506 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

PROVINCE BUILDING SERVICES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P A Jones

Mr J D Jones

SECRETARY:

Mr P A Jones

REGISTERED OFFICE:

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

REGISTERED NUMBER:

06650506 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

32,536

38,458

32,536

38,458

CURRENT ASSETS

Stocks

14,075

19,303

Debtors

41,605

52,924

Cash at bank

10,903

137,052

66,583

209,279

CREDITORS

Amounts falling due within one year

68,255

123,371

NET CURRENT (LIABILITIES)/ASSETS

(1,672

)

85,908

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,864

124,366

PROVISIONS FOR LIABILITIES

6,507

7,692

NET ASSETS

24,357

116,674

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

24,257

116,574

SHAREHOLDERS' FUNDS

24,357

116,674

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

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

The directors acknowledge their 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 Board of Directors on 27 July 2017 and were signed on its behalf by:

Mr P A Jones - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis.

During the year ended 31st October 2016, the company lost some large contracts and in addition one contract

over ran which resulted in a loss this year. Since the year end the director's have made changes to the business

and the company is profitable again.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tools & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

40,000

AMORTISATION

At 1 November 2015

and 31 October 2016

40,000

NET BOOK VALUE

At 31 October 2016

-

At 31 October 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

90,021

Additions

2,893

At 31 October 2016

92,914

DEPRECIATION

At 1 November 2015

51,563

Charge for year

8,815

At 31 October 2016

60,378

NET BOOK VALUE

At 31 October 2016

32,536

At 31 October 2015

38,458

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1.00

100