Micro-entity Accounts - ASHVALE CONTRACTORS LIMITED

ASHVALE CONTRACTORS LIMITED - Company Information

06770080 ASHVALE CONTRACTORS LIMITED 2016-12-31 false 2016-01-01 2016-12-31 true 06770080 2016-01-01 2016-12-31 06770080 2016-12-31 06770080 2015-12-31 06770080 uk-gaap-cd-bus:Director1 2016-01-01 2016-12-31 06770080 uk-gaap-cd-bus:Director2 2016-01-01 2016-12-31 06770080 uk-gaap-cd-bus:AllEntityOfficers 2016-01-01 2016-12-31 iso4217:GBP shares

Registered Number 06770080

ASHVALE CONTRACTORS LIMITED

Micro-entity Accounts

31 December 2016

ASHVALE CONTRACTORS LIMITED Registered Number 06770080

Micro-entity Balance Sheet as at 31 December 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	1	50,944	52,126
		50,944	52,126
Current assets
Stocks		7,606	18,921
Debtors		40,436	37,627
Cash at bank and in hand		107,704	50,966
		155,746	107,514
Creditors: amounts falling due within one year		(95,592)	(100,901)
Net current assets (liabilities)		60,154	6,613
Total assets less current liabilities		111,098	58,739
Creditors: amounts falling due after more than one year		(9,473)	-
Total net assets (liabilities)		101,625	58,739
Capital and reserves
Called up share capital		1	1
Revaluation reserve		31,484	31,484
Profit and loss account		70,140	27,254
Shareholders' funds		101,625	58,739

For the year ending 31 December 2016 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 September 2017

And signed on their behalf by:
M J McNiff, Director

ASHVALE CONTRACTORS LIMITED Registered Number 06770080

Notes to the Micro-entity Accounts for the period ended 31 December 2016

1Tangible fixed assets

	£
Cost
At 1 January 2016	69,502
Additions	21,591
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2016	91,093
Depreciation
At 1 January 2016	17,376
Charge for the year	22,773
On disposals	-
At 31 December 2016	40,149
Net book values
At 31 December 2016	50,944
At 31 December 2015	52,126

2Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover is measured in the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible assets depreciation policy
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 etc - 25% on cost

Other accounting policies
STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 and loss 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.