Company Registration No. 01564806 (England and Wales)
BATH DRAIN AND JETTING SERVICE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
BATH DRAIN AND JETTING SERVICE LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 5
BATH DRAIN AND JETTING SERVICE LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BATH DRAIN AND JETTING SERVICE LIMITED FOR THE YEAR ENDED 31 OCTOBER 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bath Drain and Jetting Service Limited for the year ended 31 October 2016 set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Bath Drain and Jetting Service Limited, as a body, in accordance with the terms of our engagement letter dated 19 October 2011. Our work has been undertaken solely to prepare for your approval the financial statements of Bath Drain and Jetting Service Limited and state those matters that we have agreed to state to the Board of Directors of Bath Drain and Jetting Service Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bath Drain and Jetting Service Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Bath Drain and Jetting Service Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bath Drain and Jetting Service Limited. You consider that Bath Drain and Jetting Service Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bath Drain and Jetting Service Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Pearson May
15 February 2017
Chartered Accountants
37 Great Pulteney Street
Bath
BA2 4DA
BATH DRAIN AND JETTING SERVICE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
59,554
61,266
Current assets
Stocks
500
500
Debtors
165,012
193,501
Cash at bank and in hand
250,288
372,571
415,800
566,572
Creditors: amounts falling due within one year
3
(248,110)
(88,416)
Net current assets
167,690
478,156
Total assets less current liabilities
227,244
539,422
227,244
539,422
Capital and reserves
Called up share capital
4
23
23
Other reserves
77
77
Profit and loss account
227,144
539,322
Shareholder's funds
227,244
539,422
For the financial year ended 31 October 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 member has 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 14 February 2017
T E Presswood
Director
Company Registration No. 01564806
BATH DRAIN AND JETTING SERVICE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 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).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
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
20% straight line
Motor vehicles
20% straight line
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
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.
BATH DRAIN AND JETTING SERVICE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2015
276,427
Additions
41,572
Disposals
(36,274)
At 31 October 2016
281,725
Depreciation
At 1 November 2015
215,161
On disposals
(36,274)
Charge for the year
43,284
At 31 October 2016
222,171
Net book value
At 31 October 2016
59,554
At 31 October 2015
61,266
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £185,994 (2015 - £0).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
23 ordinary shares of £1 each
23
23
BATH DRAIN AND JETTING SERVICE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 5 -
5
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
T E Presswood
-
4,000
-
-
4,000
-
4,000
-
-
4,000
-
This loan is interest free. The maximum overdrawn balance during the year was £4,000.
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