Company Registration No. 03747272 (England and Wales)
PROPSHAFT TECHNOLOGY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
PROPSHAFT TECHNOLOGY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PROPSHAFT TECHNOLOGY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
29,705
31,872
Current assets
Stocks
17,250
18,500
Debtors
152,434
161,406
Cash at bank and in hand
33,358
23,837
203,042
203,743
Creditors: amounts falling due within one year
(84,625)
(117,298)
Net current assets
118,417
86,445
Total assets less current liabilities
148,122
118,317
Provisions for liabilities
(5,942)
(6,375)
142,180
111,942
Capital and reserves
Called up share capital
3
50
50
Profit and loss account
142,130
111,892
Shareholders' funds
142,180
111,942
For the financial year ended 30 April 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 1 September 2016
Mr C Morgan
Mrs B Morgan
Director
Director
Company Registration No. 03747272
PROPSHAFT TECHNOLOGY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 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
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 goods and services net of VAT and trade discounts.
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:
Land and buildings Freehold
Plant and machinery
15% - Reducing balance
Fixtures, fittings & equipment
15%/33% - Reducing balance/Straight line
Motor vehicles
25% - Reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
125,687
Additions
4,925
Disposals
(8,025)
At 30 April 2016
122,587
Depreciation
At 1 May 2015
93,815
On disposals
(7,424)
Charge for the year
6,491
At 30 April 2016
92,882
Net book value
At 30 April 2016
29,705
At 30 April 2015
31,872
PROPSHAFT TECHNOLOGY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
3
Share capital
2016
2015
£
£
Authorised
100 Ordinary Shares of £1 each
100
100
Allotted, called up and fully paid
50 Ordinary Shares of £1 each
50
50