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uk-gaap:PlantMachinery
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iso4217:GBP
For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04279870
2
TAG Scaffolding Limited
For the year ended 31 March 2016
1
Accountants' Report
2
Balance Sheet
3 to 5
Notes to the Abbreviated Financial Statements
3
TAG Scaffolding Limited
Accountants' Report
For the year ended 31 March 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
ended 31 March 2016 and you consider that the company is exempt from an audit under the Companies Act 2006. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Kevin Moody Accountancy Services
The Lands, Longford Farm,
Bodenham, Salisbury
Wiltshire
SP5 4EJ
06 December 2016
1 of 5
4
Abbreviated Balance Sheet |
TAG Scaffolding Limited
2016
2015
2
258,665
278,770
640,050
695,050
3
953,715
918,820
215,959
310,470
255,277
195,197
565,747
411,156
Creditors: amounts falling due within one year |
4
(517,610)
(521,110)
(106,454)
44,637
Net current assets
Total assets less current liabilities |
998,352
812,366
Creditors: amounts falling due after more than one year |
5
(38,443)
(16,452)
981,900
Net assets
773,923
1
1
981,899
773,922
981,900
773,923
Shareholders funds
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
2) The director acknowledges his 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. |
Date approved by the board: 06 December 2016 |
Nathan Alexander Goff Director |
Signed on behalf of the board of directors |
2 of 5
5
Notes to the Abbreviated Financial Statements |
TAG Scaffolding Limited
For the year ended 31 March 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges |
Assets held under finance leases and hire purchase contracts are capitalized and depreciated over their useful lives. The corresponding lease or hiore obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments . |
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. |
Contributions payable are charged to the profit and loss account in the period in which they are payable. |
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
by the shareholders prior to the balance sheet date. |
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Computer Equipment
Motor Vehicles
3 of 5
6
Notes to the Abbreviated Financial Statements |
TAG Scaffolding Limited
For the year ended 31 March 2016
Assets on finance lease and hire purchase |
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
and depreciated over the shorter of the lease term and their estimated expected useful lives. |
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
1,150,676
95,840
1,246,516
871,906
115,945
Charge for year
987,851
258,665
278,770
4 of 5
7
Notes to the Abbreviated Financial Statements |
TAG Scaffolding Limited
For the year ended 31 March 2016
3 Fixed asset investments |
640,050
55,000
695,050
695,050
640,050
The company's investments at the Balance Sheet date in the share capital of companies include the following : MQL Developments LimitedNature of business : Construction of domestic buildings Class of Shares: % holdingOrdinary 50.00 2016 2015 £ £Aggregate capital and reserves 344,187 ( 2,767 ) |
2016
4 Creditors: amounts falling due within one year |
2015
18,893
44,138
Bank loans and overdrafts (secured)
2015
2016
5 Creditors due after more than one year |
-
18,923
Bank loans and overdrafts (secured)
5 of 5