J. Taylor (Haulage Contractor) Limited - Period Ending 2016-11-30

Registration number: 05489988

J. Taylor (Haulage Contractor) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016
 

Moffatt & Co
Chartered Accountants
Progress House
396 Wilmslow Road
Withington
Manchester
M20 3BN

J. Taylor (Haulage Contractor) Limited
(Registration number: 05489988)
Abbreviated Balance Sheet at 30 November 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					60,053			6,905
Current assets
Debtors					126,701			84,152
Cash at bank and in hand					-			48,871
					126,701			133,023
Creditors: Amounts falling due within one year					(80,327)			(105,596)
Net current assets					46,374			27,427
Total assets less current liabilities					106,427			34,332
Creditors: Amounts falling due after more than one year					(43,129)			-
Provisions for liabilities					(12,011)			(1,381)
Net assets					51,287			32,951
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					51,286			32,950
Shareholders' funds					51,287			32,951

For the year ending 30 November 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 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 .

Approved by the director on 20 February 2017

.........................................
JJ Taylor
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

J. Taylor (Haulage Contractor) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% straight line
Plant and machinery	25% straight line
Office equipment	25% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

J. Taylor (Haulage Contractor) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2015		18,815			18,815
Additions		76,185			76,185
At 30 November 2016		95,000			95,000
Depreciation
At 1 December 2015		11,910			11,910
Charge for the year		23,037			23,037
At 30 November 2016		34,947			34,947
Net book value
At 30 November 2016		60,053			60,053
At 30 November 2015		6,905			6,905

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		10,370			-
Amounts falling due after more than one year		43,129			-
Total secured creditors		53,500			-

Page 3

J. Taylor (Haulage Contractor) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 4