W B Dodds (Building Contractors) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC231397 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

W B Dodds (Building Contractors) Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

5,086

7,823

CURRENT ASSETS

Stocks

164,258

155,123

Debtors

17,129

35,150

Cash at bank

463,755

785,991

645,142

976,264

CREDITORS

Amounts falling due within one year

(265,617

)

(321,068

)

NET CURRENT ASSETS

379,525

655,196

TOTAL ASSETS LESS CURRENT
LIABILITIES

384,611

663,019

PROVISIONS FOR LIABILITIES

(812

)

(1,315

)

NET ASSETS

383,799

661,704

CAPITAL AND RESERVES

Called up share capital

3

1,000

Profit and loss account

382,799

660,704

SHAREHOLDERS' FUNDS

383,799

661,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 21 September 2016 and were signed on its behalf by:

Mr D G Taylor - Director

Mr S Taylor - Director

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover

Turnover represents net invoiced sales of goods and services in respect of building work, excluding value added tax. Sales

are recognised at the point at which the company has delivered the goods to the customer, or the service is complete.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of

acquisition.

Stock and work in progress

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

Cost comprises the purchase price of materials.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity.

Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in

progress.

Deferred tax

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

where transactions or events that result in an obligation to pay more or a right to pay less tax in the future have occurred by

the balance sheet date with certain limited exceptions.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which the

timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet

date.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

25,965

DEPRECIATION

At 1 July 2015

18,142

Charge for year

2,737

At 30 June 2016

20,879

NET BOOK VALUE

At 30 June 2016

5,086

At 30 June 2015

7,823

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

1,000

Ordinary Share Capital

£1

1,000