Company Registration No. 05519920 (England and Wales)
ARC FABRICATIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
ARC FABRICATIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ARC FABRICATIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,945
9,662
Current assets
Stocks
10,450
11,950
Debtors
14,076
26,245
Cash at bank and in hand
36,161
19,378
60,687
57,573
Creditors: amounts falling due within one year
(60,756)
(66,987)
Net current liabilities
(69)
(9,414)
Total assets less current liabilities
6,876
248
Creditors: amounts falling due after more than one year
(1,260)
(3,480)
5,616
(3,232)
Capital and reserves
Called up share capital
3
2,000
2,000
Profit and loss account
3,616
(5,232)
Shareholders' funds
5,616
(3,232)
For the financial year ended 31 July 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 25 April 2017
S W Gibbs
Director
Company Registration No. 05519920
ARC FABRICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 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).
The director has reviewed the working capital requirements of the business against his expectation of work likely to be obtained in the next 12 months. Based there on and taking into account its available bank facilities, the director considers it appropriate that the accounts continue to be prepared under the going concern concept.
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:
Plant and machinery
Straight line over 10 years
Computer equipment
Straight line over 10 years
Motor vehicles
Straight line over 5 years
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015
39,599
Disposals
(7,880)
At 31 July 2016
31,719
Depreciation
At 1 August 2015
29,937
On disposals
(7,880)
Charge for the year
2,717
At 31 July 2016
24,774
Net book value
At 31 July 2016
6,945
At 31 July 2015
9,662
ARC FABRICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2,000 Ordinary Shares of £1 each
2,000
2,000