Teesside Rigging & Lifting Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06562942 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2016

for

Teesside Rigging & Lifting Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S A Smith

SECRETARY:

N J Smith

REGISTERED OFFICE:

Unit 1 Teesway

North Tees Industrial Estate

Stockton on Tees

Cleveland

TS18 2RS

REGISTERED NUMBER:

06562942 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Kepier House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

2

36,177

40,040

CURRENT ASSETS

Stocks

500

Debtors

84,890

38,030

Cash at bank and in hand

93,097

7,209

178,487

45,739

CREDITORS

Amounts falling due within one year

3

130,650

155,602

NET CURRENT ASSETS/(LIABILITIES)

47,837

(109,863

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

84,014

(69,823

)

CREDITORS

Amounts falling due after more than one
year

3

(34,763

)

(87,766

)

PROVISIONS FOR LIABILITIES

(2,714

)

-

NET ASSETS/(LIABILITIES)

46,537

(157,589

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

46,437

(157,689

)

SHAREHOLDERS' FUNDS

46,537

(157,589

)

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 5 August 2016 and were signed by:

S A Smith - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis, the validity of which depends upon the continuing

support of the director and creditors of the company. If the going concern basis proved not to be valid,

adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide any

further liabilities that may arise and reclassify fixed assets as current assets and long term liabilities as current

liabilities.

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 and services, excluding value added tax.

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

-

25% on reducing balance

Fixtures and fittings

-

15 to 25% on reducing balance

Office Equipment

-

33.33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Operating leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and

loss account over the expected useful lives of the assets concerned.

Government grants of a revenue nature are credited to the profit and loss account in the same period as the

related expenditure.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

71,899

Additions

4,817

Disposals

(207

)

At 31 March 2016

76,509

DEPRECIATION

At 1 April 2015

31,859

Charge for year

8,485

Eliminated on disposal

(12

)

At 31 March 2016

40,332

NET BOOK VALUE

At 31 March 2016

36,177

At 31 March 2015

40,040

3.

CREDITORS

Creditors include an amount of £ 85,308 (2015 - £ 129,839 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£0.10

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2016 and the period

ended 31 March 2015:

2016

2015

£

S A Smith

Balance outstanding at start of year

(40,341

)

(71,544

)

Amounts advanced

117,804

36,703

Amounts repaid

(52,921

)

(5,500

)

Balance outstanding at end of year

24,542

(40,341

)

6.	ULTIMATE CONTROLLING PARTY

The controlling party is S A Smith.