Company Registration No. 06784096 (England and Wales)
EAST ANGLIA SCAFFOLDING LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
LB GROUP
82 East Hill
Colchester
Essex
CO1 2QW
EAST ANGLIA SCAFFOLDING LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
EAST ANGLIA SCAFFOLDING LTD
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,642,936
1,220,560
Current assets
Stocks
88,647
89,543
Debtors
1,442,308
1,214,630
Cash at bank and in hand
92,498
176,330
1,623,453
1,480,503
Creditors: amounts falling due within one year
3
(714,049)
(573,351)
Net current assets
909,404
907,152
Total assets less current liabilities
2,552,340
2,127,712
Creditors: amounts falling due after more than one year
4
(103,304)
(259,776)
Provisions for liabilities
(221,666)
(165,000)
2,227,370
1,702,936
Capital and reserves
Called up share capital
5
100
100
Share premium account
23,400
23,400
Profit and loss account
2,203,870
1,679,436
Shareholders' funds
2,227,370
1,702,936
EAST ANGLIA SCAFFOLDING LTD
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.
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 20 October 2016
Dr R K Puri
Director
Company Registration No. 06784096
EAST ANGLIA SCAFFOLDING LTD
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).
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. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
1.4
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
50 Years Straight Line
Plant and machinery
3/5/15 Years Straight Line
Computer equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock
Stock is valued at the lower of cost and net realisable value
, after making due allowance for obsolete and slow moving items.
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.
1.8
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
EAST ANGLIA SCAFFOLDING LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015
1,791,000
Additions
655,491
Disposals
(14,157)
At 31 January 2016
2,432,334
Depreciation
At 1 February 2015
570,440
On disposals
(11,457)
Charge for the year
230,415
At 31 January 2016
789,398
Net book value
At 31 January 2016
1,642,936
At 31 January 2015
1,220,560
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £7,201 (2015 - £7,201).
4
Creditors: amounts falling due after more than one year
Analysis of loans repayable in more than five years
The aggregate amount of creditors for which security has been given amounted to £98,561 (2015 - £101,445).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
114 Ordinary A shares of 50p each
57
57
86 Ordinary B shares of 50p each
43
43
100
100
EAST ANGLIA SCAFFOLDING LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 5 -
6
Related party relationships and transactions
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Advances
-
812
453,772
-
454,584
812
453,772
-
-
454,584