Company Registration No. 07540316 (England and Wales)
TCS CARPENTRY CONTRACTORS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
LB GROUP
Onslow House
62 Broomfield Road
Chelmsford
Essex
CM1 1SW
TCS CARPENTRY CONTRACTORS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TCS CARPENTRY CONTRACTORS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
287
1,093
Current assets
Debtors
246,238
250,676
Cash at bank and in hand
1
1
246,239
250,677
Creditors: amounts falling due within one year
(162,016)
(94,293)
Net current assets
84,223
156,384
Total assets less current liabilities
84,510
157,477
Provisions for liabilities
(100)
(200)
84,410
157,277
Capital and reserves
Called up share capital
3
50
100
Other reserves
50
-
Profit and loss account
84,310
157,177
Shareholders' funds
84,410
157,277
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 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 11 August 2016
T Stracey
Director
Company Registration No. 07540316
TCS CARPENTRY CONTRACTORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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).
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:
Fixtures, fittings & equipment
33% Straight Line
Motor vehicles
25% Reducing Balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Revenue recognition
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
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.
TCS CARPENTRY CONTRACTORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
2,576
Disposals
(275)
At 31 March 2016
2,301
Depreciation
At 1 April 2015
1,483
On disposals
(223)
Charge for the year
754
At 31 March 2016
2,014
Net book value
At 31 March 2016
287
At 31 March 2015
1,093
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
50 Ordinary shares of £1 each
50
100
During the year TCS Carpentry Contractors Limited brought back 50 Ordinary shares from N Barrett.