Geoff Tite and Sons Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05089348 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

FOR

GEOFF TITE AND SONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G W Tite

Mrs T J Tite

SECRETARY:

Mrs T J Tite

REGISTERED OFFICE:

18 High West Street

Dorchester

Dorset

DT1 1UW

REGISTERED NUMBER:

05089348 (England and Wales)

ACCOUNTANTS:

Pugsley Revill

18 High West Street

Dorchester

Dorset

DT1 1UW

FIXED ASSETS

Intangible assets

2

15,000

16,500

Tangible assets

3

35,077

39,504

50,077

56,004

CURRENT ASSETS

Stocks

8,460

7,610

Debtors

767

869

Cash at bank and in hand

3,071

11,565

12,298

20,044

CREDITORS

Amounts falling due within one year

4

71,726

67,356

NET CURRENT LIABILITIES

(59,428

)

(47,312

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,351

)

8,692

PROVISIONS FOR LIABILITIES

6,233

6,946

NET (LIABILITIES)/ASSETS

(15,584

)

1,746

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

(15,684

)

1,646

SHAREHOLDERS' FUNDS

(15,584

)

1,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 8 January 2015 and were signed on its behalf by:

G W Tite - Director

Mrs T J Tite - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Cranes

-

15% on reducing balance

Plant and equipment

-

15% on reducing balance

Weighbridge, portakabin and storage huts

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Deferred tax

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

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

30,000

AMORTISATION

At 1 May 2013

13,500

Amortisation for year

1,500

At 30 April 2014

15,000

NET BOOK VALUE

At 30 April 2014

15,000

At 30 April 2013

16,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

93,102

Additions

2,070

At 30 April 2014

95,172

DEPRECIATION

At 1 May 2013

53,598

Charge for year

6,497

At 30 April 2014

60,095

NET BOOK VALUE

At 30 April 2014

35,077

At 30 April 2013

39,504

4.

CREDITORS

Creditors include an amount of £ 3,076 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary A

£1

100

100

6.	RELATED PARTY DISCLOSURES