Registered Number 01363803
TAW VALLEY CONTRACTORS LIMITED
Abbreviated Accounts
31 March 2016
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Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
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Provisions for liabilities |
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( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Land and buildings - Buildings straight line over twenty five years
Plant and machinery - 25% reducing balance basis
Other accounting policies
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 constant periodic rates of charge on the net obligations outstanding in each period.
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.
Stock
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold;
Provision is made for deferred tax that would arise on remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable;
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Transactions with director
The director, Mr D T Down, traded with Taw Valley Contractors Limited. The company carried out sub-contract work for Mr Down at a value of £56,301 net (2015 £52,150) and purchased crops at a value of £54,000 (2015 £55,544). At 31 March 2016 £nil was owing by D Down and £nil was due to him.
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2016 |
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Depreciation | |
At 1 April 2015 |
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Charge for the year |
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On disposals |
( |
At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 1,239,059 |
At 31 March 2015 | 1,185,351 |
3
Fixed assets Investments
Investment details - participating interests
Holdings of 20% or more
The company holds 20% or more of the share capital of the following companies:
Company - Lime Court Partnership, Country of registration - UK, Nature of business - commercial property, Share held - 30% share
Company - Lime Court LLP, Country of registration - UK, Nature of business - commercial property, Shares held - 50% share
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Lime Court Partnership - Capital and reserves: £785,300, Profit for the year £34,487
Lime Court LLP - Capital and reserves: £718,567, Profit for the year £51,621
2016
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2015
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Secured Debts |
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