Brennan Mouldings and Pressings Co. Ltd
Unaudited Abbreviated Accounts
For the period ended 31 May 2017
Company Registration No. 02592222 (England and Wales)
Brennan Mouldings and Pressings Co. Ltd
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
Brennan Mouldings and Pressings Co. Ltd
Abbreviated Balance Sheet
As at 31 May 2017
Page 1
2017
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
9,142
Investments
2
-
3
-
9,145
Current assets
Stocks
-
10,000
Debtors
41,288
52,492
Cash at bank and in hand
4,176
46
45,464
62,538
Creditors: amounts falling due within one year
(29,041)
(55,226)
Net current assets
16,423
7,312
Total assets less current liabilities
16,423
16,457
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
16,323
16,357
Shareholders' funds
16,423
16,457
For the financial period ended 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit.
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 19 October 2017
D Brennan
Director
Company Registration No. 02592222
Brennan Mouldings and Pressings Co. Ltd
Notes to the Abbreviated Accounts
For the period ended 31 May 2017
Page 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
sale of
goods 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:
Plant and machinery
25% Reducing balance
Computer equipment
25% Reducing balance
Fixtures, fittings & equipment
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
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Stock
Work in progress is valued at the lower of cost and net realisable value.
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.
Brennan Mouldings and Pressings Co. Ltd
Notes to the Abbreviated Accounts (Continued)
For the period ended 31 May 2017
Page 3
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 December 2015
65,303
3
65,306
Additions
990
-
990
Disposals
(66,293)
(3)
(66,296)
At 31 May 2017
-
-
-
Depreciation
At 1 December 2015
56,161
-
56,161
On disposals
(56,161)
-
(56,161)
At 31 May 2017
-
-
-
Net book value
At 31 May 2017
-
-
-
At 30 November 2015
9,142
3
9,145
Brennan Mouldings and Pressings Co. Ltd held 100% ordinary share capital of Hexhold Limited, a company incorporated in England and Wales, until the subsidiary was dissolved on 13 December 2016.
3
Share capital
2017
2015
£
£
Allotted, called up and fully paid
60 Ordinary Shares of £1 each
60
60
40 Ordinary A Shares of £1 each
40
40
100
100
The Ordinary Shares and Ordinary A Shares rank pari passu in all respects, save that dividends may be voted on each class independently.