Company Registration No. 05693155 (England and Wales)
PAUL ROBERTS EQUIPMENT HIRE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
PAUL ROBERTS EQUIPMENT HIRE LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
PAUL ROBERTS EQUIPMENT HIRE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PAUL ROBERTS EQUIPMENT HIRE LIMITED FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paul Roberts Equipment Hire Limited for the year ended 31 March 2016 set out on pages 3 to 8 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
Our work has been undertaken solely to prepare for your approval the financial statements of Paul Roberts Equipment Hire Limited and state those matters that we have agreed to state to the Board of Directors of Paul Roberts Equipment Hire Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Roberts Equipment Hire Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Paul Roberts Equipment Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Paul Roberts Equipment Hire Limited. You consider that Paul Roberts Equipment Hire Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Paul Roberts Equipment Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore and Smalley LLP
Chartered Accountants
Richard House
9 Winckley Square
Preston
PR1 3HP
14 December 2016
PAUL ROBERTS EQUIPMENT HIRE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1
91,129
Current assets
Debtors
1,871,762
1,201,821
Cash at bank and in hand
149,846
607,677
2,021,608
1,809,498
Creditors: amounts falling due within one year
(391,195)
(138,306)
Net current assets
1,630,413
1,671,192
Total assets less current liabilities
1,630,414
1,762,321
Provisions for liabilities
-
(895)
1,630,414
1,761,426
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,630,314
1,761,326
Shareholders' funds
1,630,414
1,761,426
PAUL ROBERTS EQUIPMENT HIRE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 3 -
For the financial year ended 31 March 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 member has 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 14 December 2016
Mr P H Roberts
Director
Company Registration No. 05693155
PAUL ROBERTS EQUIPMENT HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
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:
Plant and machinery
25% on net book value
1.5
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
PAUL ROBERTS EQUIPMENT HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 5 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
443,218
Depreciation
At 1 April 2015
352,089
Charge for the year
91,128
At 31 March 2016
443,217
Net book value
At 31 March 2016
1
At 31 March 2015
91,129
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100