Company Registration No. 04533847 (England and Wales)
BLACKBURN VAN HIRE & SALES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
BLACKBURN VAN HIRE & SALES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
BLACKBURN VAN HIRE & SALES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
24,375
28,125
Tangible assets
2
472,567
484,471
496,942
512,596
Current assets
Stocks
89,764
94,053
Debtors
29,265
30,023
Cash at bank and in hand
-
3,059
119,029
127,135
Creditors: amounts falling due within one year
3
(205,709)
(229,008)
Net current liabilities
(86,680)
(101,873)
Total assets less current liabilities
410,262
410,723
Creditors: amounts falling due after more than one year
4
(173,145)
(193,097)
Provisions for liabilities
(62,189)
(60,996)
174,928
156,630
Capital and reserves
Called up share capital
5
3,000
3,000
Profit and loss account
171,928
153,630
Shareholders' funds
174,928
156,630
BLACKBURN VAN HIRE & SALES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
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.
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 21 September 2016
.............................
J A Shaw
J D Shaw
L E Shaw
Director
Director
Director
Company Registration No. 04533847
BLACKBURN VAN HIRE & SALES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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).
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
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
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:
Land and buildings Leasehold
2% per annum on cost
Plant and machinery
10% per annum reducing balance
Fixtures, fittings & equipment
20% per annum reducing balance
Motor vehicles
25% per annum reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.7
Stock
Stock 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.
BLACKBURN VAN HIRE & SALES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
75,000
900,691
975,691
Additions
-
158,574
158,574
Disposals
-
(103,939)
(103,939)
At 31 March 2016
75,000
955,326
1,030,326
Depreciation
At 1 April 2015
46,875
416,220
463,095
On disposals
-
(68,897)
(68,897)
Charge for the year
3,750
135,436
139,186
At 31 March 2016
50,625
482,759
533,384
Net book value
At 31 March 2016
24,375
472,567
496,942
At 31 March 2015
28,125
484,471
512,596
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £103,935 (2015 - £129,728).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £73,142 (2015 - £93,097).
The hire purchase liabilities are secured on individual assets.
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3,000 Ordinary shares of £1 each
3,000
3,000