LONGCROFTS_TRANSPORT_SERV - Accounts

LONGCROFTS TRANSPORT SERVICES LIMITED - Company Information

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Company Registration No. 05138719 (England and Wales)

LONGCROFTS TRANSPORT SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

LONGCROFTS TRANSPORT SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

LONGCROFTS TRANSPORT SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

Tangible assets

194,978

169,831

194,978

169,832

Current assets

Stocks

14,143

13,390

Debtors

353,294

309,214

Cash at bank and in hand

10,858

22,306

378,295

344,910

Creditors: amounts falling due within one year

(334,181)

(300,465)

Net current assets

44,114

44,445

Total assets less current liabilities

239,092

214,277

Creditors: amounts falling due after more than one year

(100,417)

(134,722)

Provisions for liabilities

(37,657)

(31,134)

101,018

48,421

Capital and reserves

Called up share capital

2,002

Profit and loss account

99,016

46,419

Shareholders' funds

101,018

48,421

LONGCROFTS TRANSPORT SERVICES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2015

- 2 -

For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 3 March 2016

Mr. G L Longcroft

Mr. F J Nuttall

Director

Company Registration No. 05138719

LONGCROFTS TRANSPORT SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for the transportation of goods net of VAT. Income is recognised on completion of the transportation service.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

20% reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

LONGCROFTS TRANSPORT SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 November 2014

404,509

Additions

80,471

Disposals

(45,000)

At 31 October 2015

439,980

Depreciation

At 1 November 2014

234,678

On disposals

(38,960)

Charge for the year

49,284

At 31 October 2015

245,002

Net book value

At 31 October 2015

194,978

At 31 October 2014

169,832

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £199,151 (2014 - £209,664).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £55,077 (2014 - £54,722).

Share capital

2015

2014

Allotted, called up and fully paid

2,002 Ordinary shares of £1 each

2,002