Calder Electrical Contractors Limited - Period Ending 2015-03-31

Registration number: SC461516

Calder Electrical Contractors Limited

Unaudited Abbreviated Accounts

for the Period from 1 June 2014 to 31 March 2015

 

A9 Accountancy Limited
Chartered Accountants
Elm House
Cradlehall Business Park
Inverness
IV2 5GH

Calder Electrical Contractors Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Calder Electrical Contractors Limited
(Registration number: SC461516)
Abbreviated Balance Sheet at 31 March 2015

		Note			31 March 2015 £			31 May 2014 £
Fixed assets
Tangible fixed assets					25,326			13,944
Current assets
Stocks					1,350			1,750
Debtors					73,732			11,889
Cash at bank and in hand					39,922			8,806
					115,004			22,445
Creditors: Amounts falling due within one year					(58,960)			(19,821)
Net current assets					56,044			2,624
Total assets less current liabilities					81,370			16,568
Creditors: Amounts falling due after more than one year					(12,955)			(10,333)
Provisions for liabilities					(5,065)			(2,789)
Net assets					63,350			3,446
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					63,349			3,445
Shareholders' funds					63,350			3,446

For the year ending 31 March 2015 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 22 April 2015

.........................................
Mr D Calder
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Calder Electrical Contractors Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2014 to 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services, net of vat, to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Plant and equipment	15% reducing balance
Office equipment	33% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Calder Electrical Contractors Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2014 to 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		18,295			18,295
Additions		19,593			19,593
At 31 March 2015		37,888			37,888
Depreciation
At 1 June 2014		4,351			4,351
Charge for the period		8,211			8,211
At 31 March 2015		12,562			12,562
Net book value
At 31 March 2015		25,326			25,326
At 31 May 2014		13,944			13,944

3	Share capital

Allotted, called up and fully paid shares

	31 March 2015						31 May 2014
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

4

Control

The company is controlled by Mr D Calder, director.

Page 3