Registered Number 06919598

TERRY MILNER LTD.

Abbreviated Accounts

31 October 2016

TERRY MILNER LTD. Registered Number 06919598

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 393,498 322,593
393,498 322,593
Current assets
Debtors 303,501 259,151
Cash at bank and in hand 112,132 55,067
415,633 314,218
Creditors: amounts falling due within one year (182,932) (193,385)
Net current assets (liabilities) 232,701 120,833
Total assets less current liabilities 626,199 443,426
Creditors: amounts falling due after more than one year (117,717) (20,409)
Provisions for liabilities (62,245) (41,830)
Total net assets (liabilities) 446,237 381,187
Capital and reserves
Called up share capital 1 1
Profit and loss account 446,236 381,186
Shareholders' funds 446,237 381,187
  • For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 December 2016

And signed on their behalf by:
T MILNER, Director

TERRY MILNER LTD. Registered Number 06919598

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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).

Turnover policy
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.

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.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property Improvements - 10% straight line basis
Plant & Machinery - 10% reducing balance basis
Fixtures & Fittings - 15% reducing balance basis
Motor Vehicles - 25% reducing balance basis
Equipment - 25% reducing balance basis

2Tangible fixed assets
£
Cost
At 1 November 2015 520,047
Additions 133,399
Disposals (31,324)
Revaluations -
Transfers -
At 31 October 2016 622,122
Depreciation
At 1 November 2015 197,454
Charge for the year 49,830
On disposals (18,660)
At 31 October 2016 228,624
Net book values
At 31 October 2016 393,498
At 31 October 2015 322,593