Company Registration No. 02299182 (England and Wales)
MOST CONSTRUCTION LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
MOST CONSTRUCTION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MOST CONSTRUCTION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
10,003
8,559
Current assets
Stocks
11,439
20,000
Debtors
82,544
86,730
Cash at bank and in hand
58,197
3,226
152,180
109,956
Creditors: amounts falling due within one year
(131,528)
(90,657)
Net current assets
20,652
19,299
Total assets less current liabilities
30,655
27,858
Provisions for liabilities
(1,625)
(1,202)
29,030
26,656
Capital and reserves
Called up share capital
3
6,000
6,000
Profit and loss account
23,030
20,656
Shareholders' funds
29,030
26,656
For the financial year ended 31 March 2015 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 and authorised for issue on 7 December 2015
G A V Morrell
Director
Company Registration No. 02299182
MOST CONSTRUCTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable accounting standards.
1.3
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
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:
Fixtures, fittings & equipment
10% Straight line
Motor vehicles
25% Reducing balance
1.5
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.6
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.
MOST CONSTRUCTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
48,408
Additions
5,000
Disposals
(10,325)
At 31 March 2015
43,083
Depreciation
At 1 April 2014
39,849
On disposals
(9,925)
Charge for the year
3,156
At 31 March 2015
33,080
Net book value
At 31 March 2015
10,003
At 31 March 2014
8,559
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
6,000 Ordinary shares of £1 each
6,000
6,000
4
Ultimate parent company
The ultimate controlling party is Graeme Morrell, a director of Most Construction Limited.