Malcolm Goodyear Carpentry & Building Services Ltd - Period Ending 2016-03-31

Registration number: 04682058

Malcolm Goodyear Carpentry & Building Services Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Malcolm Goodyear Carpentry & Building Services Ltd
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Malcolm Goodyear Carpentry & Building Services Ltd
(Registration number: 04682058)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					12,819			16,930
Current assets
Debtors					1,877			4,222
Creditors: Amounts falling due within one year		3			(14,325)			(15,839)
Net current liabilities					(12,448)			(11,617)
Total assets less current liabilities					371			5,313
Creditors: Amounts falling due after more than one year					(8,492)			(11,366)
Provisions for liabilities					(2,564)			(3,386)
Net liabilities					(10,685)			(9,439)
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					(10,687)			(9,441)
Shareholders' deficit					(10,685)			(9,439)

Page 1

Malcolm Goodyear Carpentry & Building Services Ltd
(Registration number: 04682058)
Abbreviated Balance Sheet at 31 March 2016

For the year ending 31 March 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 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 15 September 2016

Mr M J Goodyear Director

Page 2

Malcolm Goodyear Carpentry & Building Services Ltd
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

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 January 2015).

Going concern

The company has net liabilities at the year end and is reliant on a hire purchase facility which is guaranteed by the director, together with a loan from the director. The director will continue to support the business as is required to meet its liabilities as it falls due and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services 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% of written down value
Plant & machinery	15% of written down value

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.

Page 3

Malcolm Goodyear Carpentry & Building Services Ltd
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		20,913			20,913
At 31 March 2016		20,913			20,913
Depreciation
At 1 April 2015		3,983			3,983
Charge for the year		4,111			4,111
At 31 March 2016		8,094			8,094
Net book value
At 31 March 2016		12,819			12,819
At 31 March 2015		16,930			16,930

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		2,874			2,874
Amounts falling due after more than one year		8,492			11,366
Total secured creditors		11,366			14,240

Page 4

Malcolm Goodyear Carpentry & Building Services Ltd
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
A Ordinary shares of £1 each		1			1			1			1
B Ordinary shares of £1 each		1			1			1			1
		2			2			2			2

Page 5