Company Registration No. 00653599 (England and Wales)
BRETVENTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
BRETVENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
BRETVENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2015
31 January 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
-
2,594
Tangible assets
2
35,810
35,424
35,810
38,018
Current assets
Stocks
64,847
58,676
Debtors
42,807
26,433
Cash at bank and in hand
3,618
5,174
111,272
90,283
Creditors: amounts falling due within one year
(101,511)
(90,971)
Net current assets/(liabilities)
9,761
(688)
Total assets less current liabilities
45,571
37,330
Creditors: amounts falling due after more than one year
(14,978)
(6,467)
30,593
30,863
Capital and reserves
Called up share capital
3
30,100
30,100
Profit and loss account
493
763
Shareholders' funds
30,593
30,863
BRETVENTS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2015
31 January 2015
- 2 -
For the financial year ended 31 January 2015 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 6 August 2015
V A Tarrant
Director
Company Registration No. 00653599
BRETVENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
- 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 April 2008).
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
Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2001, 2005 and 2009, is being written off evenly over its estimated useful life of ten years.
1.5
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 & machinery
15% on reducing balance
Fixtures, fittings & equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Pensions
The company operates a defined pension contribution scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the scheme.
1.8
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
BRETVENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 February 2014
27,939
153,291
181,230
Additions
-
7,336
7,336
At 31 January 2015
27,939
160,627
188,566
Depreciation
At 1 February 2014
25,345
117,867
143,212
Charge for the year
2,594
6,950
9,544
At 31 January 2015
27,939
124,817
152,756
Net book value
At 31 January 2015
-
35,810
35,810
At 31 January 2014
2,594
35,424
38,018
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
30,000 0% Preference Shares of £1 each
30,000
30,000
30,100
30,100
BRETVENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 5 -
4
Related party relationships and transactions
Loans to directors
The following directors had loans during the year. The movement on these loans are as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
KJ & VA Tarrant
4.00
9,954
13,722
474
9,954
14,196
9,954
13,722
474
9,954
14,196
The loan was repaid on 30 April 2015.