GARY_HARLEY_JOINERY_CONTR - Accounts

GARY HARLEY JOINERY CONTRACTORS LIMITED - Company Information

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Company Registration No. 05468053 (England and Wales)

GARY HARLEY JOINERY CONTRACTORS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

GARY HARLEY JOINERY CONTRACTORS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

GARY HARLEY JOINERY CONTRACTORS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

33,292

17,906

Current assets

Debtors

75,107

83,467

Cash at bank and in hand

109,768

5,561

184,875

89,028

Creditors: amounts falling due within one year

(137,128)

(80,349)

Net current assets

47,747

8,679

Total assets less current liabilities

81,039

26,585

Creditors: amounts falling due after more than one year

(7,778)

(3,972)

Provisions for liabilities

(6,659)

(3,581)

66,602

19,032

Capital and reserves

Called up share capital

Profit and loss account

66,600

19,030

Shareholders' funds

66,602

19,032

GARY HARLEY JOINERY CONTRACTORS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2016

- 2 -

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 March 2017

Mr G Harley

Director

Company Registration No. 05468053

The notes on pages 3 - 4 form part of these financial statements.

GARY HARLEY JOINERY CONTRACTORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Turnover represents net invoiced sales of goods and services, excluding value added tax supplied to customers during the year. income is recognised when services are completed to the extent that the customer has an obligation to pay all or part of the contract sums.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% on cost

Motor vehicles

25% on cost

1.6

Leasing and hire purchase commitments

Assets acquired under hire purchase agreements and finance leases are capitalised in the balance sheet and are depreciated in accordance with the company's normal policy. The outstanding liabilities under such agreements less interest not yet due are included in creditors. Interest on such agreements is charged to the profit and loss account over the term of each agreement and represents a constant proportion of the balance of capital repayments outstanding.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely then not that there will be suitable taxable profits from which the future reversal of the underlying timing difference can be deducted.

Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date.

GARY HARLEY JOINERY CONTRACTORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2015

32,200

52,262

84,462

Additions

28,346

At 30 June 2016

32,200

80,608

112,808

Depreciation

At 1 July 2015

32,200

34,357

66,557

Charge for the year

12,959

At 30 June 2016

32,200

47,316

79,516

Net book value

At 30 June 2016

33,292

At 30 June 2015

17,906

Share capital

2016

2015

Allotted, called up and fully paid

4 Ordinary A shares of 20p each

4 Ordinary B shares of 20p each

1 Ordinary C share of 20p each

1 Ordinary D share of 20p each

These shares rank pari passu in all aspects.

On 2 July 2015 the company split the one Ordinary A share of £1 to 5 Ordinary A shares of £0.20 each and split the one Ordinary B share of £1 to 5 Ordinary shares of £0.20 each. On the same day the company re-designated one Ordinary A share of £0.20 as one Ordinary C share of £0.20 and re-designated one Ordinary B share as one Ordinary D share.