Reid Painting & Decorating Limited - Abbreviated accounts 16.1

Reid Painting & Decorating Limited - Abbreviated accounts 16.1


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REGISTERED NUMBER: NI045359(Northern Ireland)















Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Reid Painting & Decorating Limited

Reid Painting & Decorating Limited (Registered number: NI045359)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Reid Painting & Decorating Limited

Company Information
for the Year Ended 31 March 2016







DIRECTOR: J Reid



SECRETARY: Mrs M P Reid



REGISTERED OFFICE: 18 Market Road
Ballymena
BT43 6EL



REGISTERED NUMBER: NI045359(Northern Ireland)



ACCOUNTANTS: J A McNicholl & Company Limited
18 Market Road
Ballymena
BT43 6EL



BANKERS: First Trust Bank
78 Wellington Street
Ballymena
BT43 6AF

Reid Painting & Decorating Limited (Registered number: NI045359)

Abbreviated Balance Sheet
31 March 2016

31.3.16 31.3.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 6,000 8,000
Tangible assets 3 28,557 32,567
34,557 40,567

CURRENT ASSETS
Stocks 25,453 12,250
Cash at bank and in hand 3,111 49
28,564 12,299
CREDITORS
Amounts falling due within one year 53,791 41,196
NET CURRENT LIABILITIES (25,227 ) (28,897 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,330

11,670

CREDITORS
Amounts falling due after more than
one year

4,800

7,200
NET ASSETS 4,530 4,470

Reid Painting & Decorating Limited (Registered number: NI045359)

Abbreviated Balance Sheet - continued
31 March 2016

31.3.16 31.3.15
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4 300 300
Profit and loss account 4,230 4,170
SHAREHOLDERS' FUNDS 4,530 4,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 6 June 2016and were signed by:





J Reid- Director


Reid Painting & Decorating Limited (Registered number: NI045359)

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in
accordance with the Financial Reporting Standard for Smaller Entities (effective January
2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 10,000
AMORTISATION
At 1 April 2015 2,000
Amortisation for year 2,000
At 31 March 2016 4,000
NET BOOK VALUE

At 31 March 2016 6,000
At 31 March 2015 8,000

Reid Painting & Decorating Limited (Registered number: NI045359)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 59,321
DEPRECIATION
At 1 April 2015 26,754
Charge for year 4,010
At 31 March 2016 30,764
NET BOOK VALUE
At 31 March 2016 28,557
At 31 March 2015 32,567

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.16 31.3.15
value: £    £   
300 Ordinary £1 300 300