Abbreviated Company Accounts - REACT MAINTENANCE SERVICES (MIDLANDS) LTD

Abbreviated Company Accounts - REACT MAINTENANCE SERVICES (MIDLANDS) LTD


Registered Number 07572921

REACT MAINTENANCE SERVICES (MIDLANDS) LTD

Abbreviated Accounts

30 April 2016

REACT MAINTENANCE SERVICES (MIDLANDS) LTD Registered Number 07572921

Abbreviated Balance Sheet as at 30 April 2016

Notes 2016 2015
£ £
Called up share capital not paid 2 2
Fixed assets
Tangible assets 2 21,150 22,230
21,150 22,230
Current assets
Debtors 3 17,856 17,137
Cash at bank and in hand 25,201 21,417
43,057 38,554
Creditors: amounts falling due within one year 4 (32,016) (44,176)
Net current assets (liabilities) 11,041 (5,622)
Total assets less current liabilities 32,193 16,610
Provisions for liabilities - (3,014)
Total net assets (liabilities) 32,193 13,596
Capital and reserves
Called up share capital 5 2 2
Profit and loss account 32,191 13,594
Shareholders' funds 32,193 13,596
  • For the year ending 30 April 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 9 February 2017

And signed on their behalf by:
Chris Tighe, Director

REACT MAINTENANCE SERVICES (MIDLANDS) LTD Registered Number 07572921

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible assets depreciation policy
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years

Other accounting policies
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

2Tangible fixed assets
£
Cost
At 1 May 2015 24,545
Additions 973
Disposals -
Revaluations -
Transfers -
At 30 April 2016 25,518
Depreciation
At 1 May 2015 2,315
Charge for the year 2,053
On disposals -
At 30 April 2016 4,368
Net book values
At 30 April 2016 21,150
At 30 April 2015 22,230
3Debtors
2016
£
2015
£
Debtors include the following amounts due after more than one year 17,856 17,137
4Creditors
2016
£
2015
£
Secured Debts 32,016 44,176
5Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
2Ordinary shares of £1 each 2 2