Company Registration No. 03503887 (England and Wales)
1ST SURFACE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2016
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
1ST SURFACE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
1ST SURFACE LIMITED
Company Registration No. 03503887
ABBREVIATED BALANCE SHEET
AS AT 28 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
25,482
14,715
Current assets
Debtors
73,943
39,228
Cash at bank and in hand
57,035
101,909
130,978
141,137
Creditors: amounts falling due within one year
(117,337)
(145,119)
Net current assets/(liabilities)
13,641
(3,982)
Total assets less current liabilities
39,123
10,733
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
38,123
9,733
Shareholders' funds
39,123
10,733
For the financial year ended 28 February 2016 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 for issue on 7 November 2016
T L Clarke
Director
1ST SURFACE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover comprises revenue recognised by the company in respect of tennis court construction and maintenance services supplied during the year, exclusive of Value Added Tax and trade discounts. The proportion of invoiced services that relate to later periods are carried forward as deferred income within creditors.
The proportion of invoiced services that relate to later periods are carried forward as deferred income within creditors.
Income is recognised in the period in which the service is supplied.
1.3
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:
Plant and machinery
25% Straight line
Fixtures, fittings & equipment
25% Straight line
Motor vehicles
25% Straight line
1.4
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1ST SURFACE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2015
84,351
Additions
22,743
Disposals
(14,608)
At 28 February 2016
92,486
Depreciation
At 1 March 2015
69,635
On disposals
(14,608)
Charge for the year
11,977
At 28 February 2016
67,004
Net book value
At 28 February 2016
25,482
At 28 February 2015
14,715
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,000 Ordinary of £1 each
1,000
1,000