TOWER_MARTIN_CONTRACTORS_ - Accounts
TOWER_MARTIN_CONTRACTORS_ - Accounts
Company Registration No. 06335476 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Investments
2
Current assets
Stocks
Debtors
Investments
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(293,264 )
(197,349 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(445,427 )
(337,263 )
Provisions for liabilities
(203,997 )
(172,923 )
1,442,843
1,285,702
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2016
- 2 -
Directors' responsibilities:
-
-
Approved by the Board for issue on 14 December 2016
Director
Company Registration No. 06335476
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
Office equipment
20% Straight line
Motor vehicles
25% Reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Current asset investments are stated at the lower of cost and net realisable value.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 September 2015
1,496,968
1
1,496,969
Additions
478,855
-
478,855
Disposals
(119,950)
-
(119,950)
At 31 August 2016
1,855,873
1
1,855,874
Depreciation
At 1 September 2015
559,939
-
559,939
On disposals
(92,758)
-
(92,758)
Charge for the year
201,430
-
201,430
At 31 August 2016
668,611
-
668,611
Net book value
At 31 August 2016
1,187,262
1,187,263
At 31 August 2015
937,029
937,030
The unlisted investments are shown at cost as no ready open market exists for resale. The Directors consider the open market value of the unlisted investments to be in excess of cost.
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £157,593 (2015 - £115,873).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £418,220 (2015 - £294,323).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid