Registered Number 04531017
PSI PLANT HIRE LIMITED
Abbreviated Accounts
30 September 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Freehold buildings 10% on reducing balance
Motor vehicles 25% on reducing balance
Plant and machinery 15% on reducing balance
Other accounting policies
Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.
A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Hire Purchase
Rentals under operating leases are charged to the profit and loss account as they fall due.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
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Cost | |
At 1 October 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2016 |
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Depreciation | |
At 1 October 2015 |
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Charge for the year |
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On disposals |
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At 30 September 2016 |
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Net book values | |
At 30 September 2016 | 6,569 |
At 30 September 2015 | 8,623 |