ASP Plumbing Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 06855986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

ASP PLUMBING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S J Phippard

Mrs D A Phippard

SECRETARY:

Mrs D A Phippard

REGISTERED OFFICE:

2 The Links

HERNE BAY

Kent

CT6 7GQ

REGISTERED NUMBER:

06855986 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

2 The Links

HERNE BAY

Kent

CT6 7GQ

FIXED ASSETS

Tangible assets

4

4,741

6,204

CURRENT ASSETS

Debtors

10,395

13,507

Cash at bank

10,175

2,941

20,570

16,448

CREDITORS

Amounts falling due within one year

23,710

14,678

NET CURRENT (LIABILITIES)/ASSETS

(3,140

)

1,770

TOTAL ASSETS LESS CURRENT LIABILITIES

1,601

7,974

CREDITORS

Amounts falling due after more than one year

5

-

(1,902

)

PROVISIONS FOR LIABILITIES

(901

)

(1,241

)

NET ASSETS

700

4,831

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

699

4,830

SHAREHOLDERS' FUNDS

700

4,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 July 2017 and were signed on its behalf by:

S J Phippard - Director

1.	STATUTORY INFORMATION

ASP Plumbing Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on a straight line basis

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Going concern

The accounts are prepared on the assumption that the company is able to carry on business as a going concern

because it is trading well within it's banking facilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

15,823

DEPRECIATION

At 1 April 2016

9,619

Charge for year

1,463

At 31 March 2017

11,082

NET BOOK VALUE

At 31 March 2017

4,741

At 31 March 2016

6,204

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2016

and 31 March 2017

12,611

DEPRECIATION

At 1 April 2016

7,291

Charge for year

1,330

At 31 March 2017

8,621

NET BOOK VALUE

At 31 March 2017

3,990

At 31 March 2016

5,320

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

1,902

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

S J Phippard

Balance outstanding at start of year

6,431

-

Amounts advanced

9,533

6,431

Amounts repaid

(6,431

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,533

6,431

8.	ULTIMATE CONTROLLING PARTY