REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MAY 2016 |
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FOR |
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WEST COAST CONSTRUCTION LTD |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MAY 2016 |
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FOR |
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WEST COAST CONSTRUCTION LTD |
WEST COAST CONSTRUCTION LTD (REGISTERED NUMBER: 06238805) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 May 2016 |
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Page |
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Abbreviated Balance Sheet | 1 |
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Notes to the Abbreviated Accounts | 2 |
WEST COAST CONSTRUCTION LTD (REGISTERED NUMBER: 06238805) |
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ABBREVIATED BALANCE SHEET |
31 May 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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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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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the Board of Directors on
by: |
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WEST COAST CONSTRUCTION LTD (REGISTERED NUMBER: 06238805) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 May 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company's reserves remain negative as described in note 11. However, the directors are of the opinion that |
the company will be profitable in the future and they have pledged to continue to support the company |
financially for the foreseeable future. As a result of this, the going concern basis of accounting has been adopted. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Revenue recognition |
The company recognises contracting revenue when work has been completed and the sales invoice raised. |
Construction costs are treated as work-in-progress until a sale contract has been agreed. |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 June 2015 |
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Additions |
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At 31 May 2016 |
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DEPRECIATION |
At 1 June 2015 |
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Charge for year |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | 1 |
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WEST COAST CONSTRUCTION LTD (REGISTERED NUMBER: 06238805) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 31 May 2016 |
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4. | GOING CONCERN |
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The company completed the construction of a property in 2010. Due to the economic climate, this was sold at a |
loss in October 2011 and resulted in further deterioration of the company's reserves. However, the company |
continues to carry out various construction and civil engineering contracts and the company has been operating |
at around a 'break-even' position ever since. |
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Despite negative shareholders funds at 31 May 2016 the directors are still of the opinion that this will be |
reversed in due course. They are therefore of the opinion that these accounts should be prepared on a going |
concern basis. |