TOWER_MARTIN_CONTRACTORS_ - Accounts

TOWER MARTIN CONTRACTORS LIMITED - Company Information

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Company Registration No. 06335476 (England and Wales)

TOWER MARTIN CONTRACTORS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2014

TOWER MARTIN CONTRACTORS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

TOWER MARTIN CONTRACTORS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

757,811

613,303

Investments

757,812

613,304

Current assets

Stocks

5,000

3,500

Debtors

344,312

696,768

Investments

521,502

60,000

Cash at bank and in hand

38,024

46,424

908,838

806,692

Creditors: amounts falling due within one year

(189,083)

(287,075)

Net current assets

719,755

519,617

Total assets less current liabilities

1,477,567

1,132,921

Creditors: amounts falling due after more than one year

(243,155)

(109,250)

Provisions for liabilities

(107,301)

(73,394)

1,127,111

950,277

Capital and reserves

Called up share capital

Profit and loss account

1,127,101

950,267

Shareholders' funds

1,127,111

950,277

TOWER MARTIN CONTRACTORS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 AUGUST 2014

- 2 -

For the financial year ended 31 August 2014 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 14 January 2015

J.W. Rutherford

Director

Company Registration No. 06335476

TOWER MARTIN CONTRACTORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

- 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 April 2008).

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 amounts receivable for goods and services net of VAT and trade discounts.

1.4

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% and 18% Reducing balance

Office equipment

20% Straight line

Motor vehicles

25% Reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Current asset investments are stated at the lower of cost and net realisable value.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

TOWER MARTIN CONTRACTORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 September 2013

1,026,130

1,026,131

Additions

322,206

Disposals

(75,505)

At 31 August 2014

1,272,831

1,272,832

Depreciation

At 1 September 2013

412,827

On disposals

(18,035)

Charge for the year

120,228

At 31 August 2014

515,020

Net book value

At 31 August 2014

757,811

757,812

At 31 August 2013

613,303

613,304

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £101,806 (2013 - £83,622).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £185,089 (2013 - £109,250).

Share capital

2014

2013

Allotted, called up and fully paid

10 Ordinary shares of £1 each