DAVE ALLMARK SURFACING LIMITED
Company Registration No. 05029365 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
DAVE ALLMARK SURFACING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
DAVE ALLMARK SURFACING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
12,000
13,500
Tangible assets
2
223,801
188,747
235,801
202,247
Current assets
Stocks
3,567
3,617
Debtors
34,650
68,969
Cash at bank and in hand
65,742
54,291
103,959
126,877
Creditors: amounts falling due within one year
3
(162,611)
(209,910)
Net current liabilities
(58,652)
(83,033)
Total assets less current liabilities
177,149
119,214
Creditors: amounts falling due after more than one year
4
(100,113)
(81,866)
Provisions for liabilities
(15,962)
(8,511)
61,074
28,837
Capital and reserves
Called up share capital
5
2
2
Profit and loss account
61,072
28,835
Shareholders' funds
61,074
28,837
DAVE ALLMARK SURFACING LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2016
30 June 2016
- 2 -
For the financial year ended 30 June 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 22 February 2017
Mr D R Allmark
Director
Company Registration No. 05029365
DAVE ALLMARK SURFACING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 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).
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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
Nil
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
20% reducing balance
The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The directors perform annual impairment reviews in accordance with the requirements of FRS 15 and FRS 11 to ensure that the carrying value is not higher than the recoverable amount.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
DAVE ALLMARK SURFACING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015
30,000
227,236
257,236
Additions
-
60,984
60,984
Disposals
-
(15,000)
(15,000)
At 30 June 2016
30,000
273,220
303,220
Depreciation
At 1 July 2015
16,500
38,489
54,989
Charge for the year
1,500
10,930
12,430
At 30 June 2016
18,000
49,419
67,419
Net book value
At 30 June 2016
12,000
223,801
235,801
At 30 June 2015
13,500
188,747
202,247
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £11,341 (2015 - £6,095).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £110,113 (2015 - £81,866).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2