Commercial Timber Sales Limited
|
For the year ended 31 May 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 02598288
Commercial Timber Sales Limited
For the year ended 31 May 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Commercial Timber Sales Limited
Chartered Accountants' Report
For the year ended 31 May 2016
Chartered Accountants' Report to the Board of Directors
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of Commercial Timber Sales Limited for the year ended
31
May
2016
which comprise the Profit and Loss
|
Account
,
the Balance Sheet and the related notes from the company
'
s accounting records and from information
|
and explanations you have given us
.
|
As a practising firm of the Institute of Chartered Accountants in England and Wales
(
ICAEW
)
,
we are subject to its
|
ethical and other professional requirements which are detailed at icaew
.
com
/
membershandbook
.
|
This report is made solely to the Board of Directors of Commercial Timber Sales Limited
,
as a body
,
in accordance
|
with the terms of our engagement letter dated
.
Our work has been undertaken solely to prepare for your approval
|
the accounts of Commercial Timber Sales Limited and state those matters that we have agreed to state to the
|
Board of Directors of Commercial Timber Sales Limited
,
as a body
,
in this report in accordance with AAF
2
/
10
as
|
detailed at icaew
.
com
/
compilation
.
To the fullest extent permitted by law
,
we do not accept or assume responsibility
|
to anyone other than Commercial Timber Sales Limited and its Board of Directors as a body for our work or for this
|
report
.
|
It is your duty to ensure that Commercial Timber Sales Limited has kept adequate accounting records to prepare
|
statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of Commercial
|
Timber Sales Limited
.
You consider that Commercial Timber Sales Limited is exempt from the statutory audit
|
requirement for the year
.
|
We have not been instructed to carry out an audit or a review of the accounts of Commercial Timber Sales Limited
.
|
For this reason
,
we have not verified the accuracy or completeness of the accounting records or information and
|
explanations you have given to us and we do not
,
therefore
,
express any opinion on the statutory accounts
.
|
BGA Accountants
Sandy Farm Business Centre
Sands Road
The Sands
Farnham
GU10 1PX
1 of 4
Abbreviated Balance Sheet
|
Commercial Timber Sales Limited
2016
2015
2
3,890
4,349
283,611
247,026
3
250,916
287,960
10,914
6,237
2,955
1,113
9,192
12,027
Creditors
:
amounts falling due within one year
|
(27,920)
(18,437)
(15,893)
(9,245)
Net current liabilities
Total assets less current liabilities
|
241,671
272,067
Creditors
:
amounts falling due after more than one year
|
4
(271,967)
(271,967)
(30,296)
Net assets/liabilities
100
100
5
100
(30,396)
-
(30,296)
100
Shareholders funds
For the year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 15 February 2017
|
Mr Jeremy Andrew Kemplen Director
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
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Commercial Timber Sales Limited
For the year ended 31 May 2016
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Short leasehold
Plant and Machinery
Motor Vehicles
Fixtures and Fittings
78,855
845
79,700
74,506
1,304
Charge for year
75,810
3,890
4,349
3 of 4
Notes to the Abbreviated Financial Statements
|
Commercial Timber Sales Limited
For the year ended 31 May 2016
3
Fixed asset investments
|
283,611
(36,585)
247,026
247,026
283,611
2015
2016
4
Creditors due after more than one year
|
271,967
271,967
Bank loans and overdrafts (secured)
Allotted called up and fully paid
|
2016
2015
100
Class A shares of £
1
.
00
each
|
100
100
100
100
4 of 4