Company Registration No. 03163385 (England and Wales)
TRAYLEN ENTERPRISES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
Richard Anthony
Chartered Accountants
TRAYLEN ENTERPRISES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TRAYLEN ENTERPRISES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
29 FEBRUARY 2016
29 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,470,700
7,069,359
Current assets
Stocks
22,100
51,884
Debtors
787,588
655,415
Cash at bank and in hand
2,600,387
1,305,041
3,410,075
2,012,340
Creditors: amounts falling due within one year
(1,205,603)
(1,203,012)
Net current assets
2,204,472
809,328
Total assets less current liabilities
8,675,172
7,878,687
Provisions for liabilities
(223,635)
(365,319)
8,451,537
7,513,368
Capital and reserves
Called up share capital
3
100
100
Revaluation reserve
99,548
99,548
Profit and loss account
8,351,889
7,413,720
Shareholders' funds
8,451,537
7,513,368
For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 15 September 2016
Mr T Traylen
Director
Company Registration No. 03163385
TRAYLEN ENTERPRISES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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 hire and supply of equipment and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. The principal activity of the company is to acquire equipment for hire, but due to the nature of the trade such equipment for hire is regularly disposed. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil
Plant and machinery
25% reducing balance
Computer equipment
33% on cost
Equipment for Hire
20% reducing balance
Motor vehicles
25% reducing balance
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
TRAYLEN ENTERPRISES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 March 2015
11,980,128
Additions
799,761
Disposals
(680,620)
At 29 February 2016
12,099,269
Depreciation
At 1 March 2015
4,910,769
On disposals
(560,819)
Charge for the year
1,278,619
At 29 February 2016
5,628,569
Net book value
At 29 February 2016
6,470,700
At 28 February 2015
7,069,359
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100