Tolley Fabrications Ltd - Accounts to registrar - small 17.2

Tolley Fabrications Ltd - Accounts to registrar - small 17.2


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REGISTERED NUMBER: 08988794 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Tolley Fabrications Ltd

Tolley Fabrications Ltd (Registered number: 08988794)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 6

Tolley Fabrications Ltd

Company Information
for the Year Ended 31 March 2017







DIRECTORS: Mr A Tolley
Mrs C Tolley





REGISTERED OFFICE: Unit S6
Tursdale Business Park
Tursdale
Durham
DH6 5PG





REGISTERED NUMBER: 08988794 (England and Wales)





ACCOUNTANTS: Lyons Watson
Accountants & Business Advisers
Business Central
2 Union Square
Darlington
Co. Durham
DL1 1GL

Tolley Fabrications Ltd (Registered number: 08988794)

Abridged Balance Sheet
31 March 2017

31/3/17 31/3/16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,780 50,956

CURRENT ASSETS
Stocks 4,985 1,070
Debtors 239,005 299,505
Cash in hand 75 75
244,065 300,650
CREDITORS
Amounts falling due within one year 275,677 295,204
NET CURRENT (LIABILITIES)/ASSETS (31,612 ) 5,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,168

56,402

CREDITORS
Amounts falling due after more than one
year

-

(3,172

)

PROVISIONS FOR LIABILITIES (11,358 ) (10,191 )
NET ASSETS 16,810 43,039

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 16,710 42,939
SHAREHOLDERS' FUNDS 16,810 43,039

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.

Tolley Fabrications Ltd (Registered number: 08988794)

Abridged Balance Sheet - continued
31 March 2017


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 Income Statement and 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 9 December 2017 and were signed on
its behalf by:





Mr A Tolley - Director


Tolley Fabrications Ltd (Registered number: 08988794)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

Tolley Fabrications Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared under the going concern basis of accounting.

Turnover
Turnover represents the value of work carried out during the year including amounts not yet invoiced,
excluding value added tax. Income is being recognised according to the stage of completion of work
done.

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 - 20% on cost
Computer equipment - 20% on cost

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 it is probable
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tolley Fabrications Ltd (Registered number: 08988794)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2016 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2016 60,506
Additions 23,810
At 31 March 2017 84,316
DEPRECIATION
At 1 April 2016 9,550
Charge for year 14,986
At 31 March 2017 24,536
NET BOOK VALUE
At 31 March 2017 59,780
At 31 March 2016 50,956

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 13,450
DEPRECIATION
At 1 April 2016 3,582
Charge for year 2,690
At 31 March 2017 6,272
NET BOOK VALUE
At 31 March 2017 7,178
At 31 March 2016 9,868

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tolley Fabrications Ltd

The following reproduces the text of the report prepared for the directors and members in respect of
the company's annual unaudited financial statements. In accordance with the Companies Act 2006,
the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income
Statement and certain other primary statements and the Report of the Directors are not required to be
filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval
the financial statements of Tolley Fabrications Ltd for the year ended 31 March 2017 which comprise the
Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting
records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Tolley Fabrications Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tolley Fabrications Ltd and state those matters that we have agreed to state to the Board of Directors of Tolley Fabrications Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tolley Fabrications Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tolley Fabrications Ltd. You consider that Tolley Fabrications Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tolley Fabrications Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lyons Watson
Accountants & Business Advisers
Business Central
2 Union Square
Darlington
Co. Durham
DL1 1GL


11 December 2017