Abbreviated Company Accounts - BRADAGH SCAFFOLDING LTD

Abbreviated Company Accounts - BRADAGH SCAFFOLDING LTD


Registered Number NI040123

BRADAGH SCAFFOLDING LTD

Abbreviated Accounts

31 March 2016

BRADAGH SCAFFOLDING LTD Registered Number NI040123

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 156,562 121,660
156,562 121,660
Current assets
Debtors 57,600 45,943
Cash at bank and in hand - 9,824
57,600 55,767
Creditors: amounts falling due within one year (76,463) (41,470)
Net current assets (liabilities) (18,863) 14,297
Total assets less current liabilities 137,699 135,957
Creditors: amounts falling due after more than one year - (3,871)
Provisions for liabilities (27,886) (23,568)
Total net assets (liabilities) 109,813 108,518
Capital and reserves
Called up share capital 12,000 12,000
Profit and loss account 97,813 96,518
Shareholders' funds 109,813 108,518
  • 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 directors acknowledge their 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 Board on 21 December 2016

And signed on their behalf by:
Mr J Quinn, Director

BRADAGH SCAFFOLDING LTD Registered Number NI040123

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land & Buildings - (10% Reducing Balance)
Plant & Machinery - (10% Reducing Balance)
Fixtures & Fittings - (20% Reducing Balance)
Motor Vehicles - (20% Reducing Balance)
Equipment - (10% Reducing Balance)

Other accounting policies
Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Deferred taxation

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 have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2Tangible fixed assets
£
Cost
At 1 April 2015 352,068
Additions 52,084
Disposals -
Revaluations -
Transfers -
At 31 March 2016 404,152
Depreciation
At 1 April 2015 230,408
Charge for the year 17,182
On disposals -
At 31 March 2016 247,590
Net book values
At 31 March 2016 156,562
At 31 March 2015 121,660