Petcol Construction Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05820822 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

PETCOL CONSTRUCTION LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J P Coleman

REGISTERED OFFICE:

Waterside House

Waterside Business Park

1649 Pershore Road

Birmingham

West Midlands

B30 3DR

REGISTERED NUMBER:

05820822 (England and Wales)

ACCOUNTANTS:

Stanley Yule Chartered Accountants

Waterside House

Waterside Business Park

1649 Pershore Road

Birmingham

West Midlands

B30 3DR

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

2,743

3,676

2,743

3,676

CURRENT ASSETS

Debtors

16,153

20,765

CREDITORS

Amounts falling due within one year

18,083

23,514

NET CURRENT LIABILITIES

(1,930

)

(2,749

)

TOTAL ASSETS LESS CURRENT LIABILITIES

813

927

PROVISIONS FOR LIABILITIES

541

726

NET ASSETS

272

201

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

271

200

SHAREHOLDERS' FUNDS

272

201

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 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 6 October 2016 and were signed by:

J P Coleman - 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 and services, excluding value added tax arising from the

general construction work.Income is recognised on despatch of goods or on delivery of a service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

32,000

AMORTISATION

At 1 July 2015

and 30 June 2016

32,000

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

12,367

DEPRECIATION

At 1 July 2015

8,691

Charge for year

933

At 30 June 2016

9,624

NET BOOK VALUE

At 30 June 2016

2,743

At 30 June 2015

3,676

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and

30 June 2015:

2016

2015

£

£

J P Coleman

Balance outstanding at start of year

2,098

-

Amounts advanced

-

2,098

Amounts repaid

(2,098

)

-

Balance outstanding at end of year

-

2,098

6.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director, Mr J P Coleman by virtue of his 100% interest in the issued

share capital of the company.