Company Registration No. 04648479 (England and Wales)
ANDREW BAIN PLANT HIRE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
ANDREW BAIN PLANT HIRE LIMITED
CONTENTS
PAGE
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ANDREW BAIN PLANT HIRE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
2
8,461
4,493
CURRENT ASSETS
Stocks
15,166
23,975
Debtors
438
1,301
Cash at bank and in hand
11,276
5,215
26,880
30,491
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
(75,743)
(65,292)
NET CURRENT LIABILITIES
(48,863)
(34,801)
TOTAL ASSETS LESS CURRENT LIABILITIES
(40,402)
(30,308)
CAPITAL AND RESERVES
Called up share capital
3
2
2
Profit and loss account
(40,404)
(30,310)
SHAREHOLDERS' FUNDS
(40,402)
(30,308)
ANDREW BAIN PLANT HIRE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2016
31 January 2016
- 2 -
For the financial year ended 31 January 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 26 October 2016
Mr A Bain
DIRECTOR
COMPANY REGISTRATION NO. 04648479
ANDREW BAIN PLANT HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
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).
GOING CONCERN
As at 31 March 2016, the company has net current liabilities of £48,863 (2015: £34,801) and net liabilities of £40,402 (2015: £30,308). The director is continuing to support the company for the foreseeable future and consequently the director has prepared the accounts on a going concern basis.
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 net invoiced sales of goods, excluding value added tax.
net invoiced sales of goods, excluding value added tax.
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:
Plant and machinery
15% on reducing balance
Computer equipment
25% on cost
Motor vehicles
25% on reducing balance
1.5
STOCK
Stock is valued at the lower of cost and net realisable value
, after making due allowance for obsolete and slow moving items.
ANDREW BAIN PLANT HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 4 -
2
FIXED ASSETS
Tangible assets
£
COST
At 1 February 2015
19,993
Additions
7,194
Disposals
(8,850)
At 31 January 2016
18,337
DEPRECIATION
At 1 February 2015
15,500
On disposals
(7,964)
Charge for the year
2,340
At 31 January 2016
9,876
NET BOOK VALUE
At 31 January 2016
8,461
At 31 January 2015
4,493
3
SHARE CAPITAL
2016
2015
£
£
ALLOTTED, CALLED UP AND FULLY PAID
2 Ordinary of £1 each
2
2