O'Kane Construction Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: NI049720 (Northern Ireland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

O'Kane Construction Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

GJ O'Kane

SECRETARY:

McNicholl Ltd

REGISTERED OFFICE:

18 Market Road

Ballymena

BT43 6EL

REGISTERED NUMBER:

NI049720 (Northern Ireland)

ACCOUNTANTS:

J A McNicholl & Company Limited

18 Market Road

Ballymena

BT43 6EL

FIXED ASSETS

Intangible assets

2

30,550

32,900

Tangible assets

3

4,379

4,474

34,929

37,374

CURRENT ASSETS

Stocks

42,498

35,243

Debtors

5,123

4,718

47,621

39,961

CREDITORS

Amounts falling due within one year

75,788

74,297

NET CURRENT LIABILITIES

(28,167

)

(34,336

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,762

3,038

CAPITAL AND RESERVES

Called up share capital

4

300

Profit and loss account

6,462

2,738

SHAREHOLDERS' FUNDS

6,762

3,038

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 14 December 2016 and were signed by:

GJ O'Kane - 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).

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 2004, is being amortised evenly over its estimated useful life of fifteen 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 etc

-

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

35,250

AMORTISATION

At 1 April 2015

2,350

Amortisation for year

2,350

At 31 March 2016

4,700

NET BOOK VALUE

At 31 March 2016

30,550

At 31 March 2015

32,900

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

13,950

Additions

1,000

At 31 March 2016

14,950

DEPRECIATION

At 1 April 2015

9,476

Charge for year

1,095

At 31 March 2016

10,571

NET BOOK VALUE

At 31 March 2016

4,379

At 31 March 2015

4,474

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

300

Ordinary

£1

300