Company Registration No. 04933320 (England and Wales)
Benchmark Joinery (South East) Limited
Unaudited Abbreviated Financial Statements
For The Year Ended 31 March 2016
Benchmark Joinery (South East) Limited
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
Benchmark Joinery (South East) Limited
Abbreviated Balance Sheet
As At 31 March 2016
Page 1
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
5,653
6,403
Tangible assets
2
23,021
22,271
28,674
28,674
Current assets
Debtors
19,269
17,522
Cash at bank and in hand
9,908
15,994
29,177
33,516
Creditors: amounts falling due within one year
(61,336)
(56,817)
Net current liabilities
(32,159)
(23,301)
Total assets less current liabilities
(3,485)
5,373
Creditors: amounts falling due after more than one year
-
(2,267)
(3,485)
3,106
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(3,585)
3,006
Shareholders' funds
(3,485)
3,106
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.
Director's 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 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 24 November 2016
Mr A J Mitchell
Director
Company Registration No. 04933320
Benchmark Joinery (South East) Limited
Notes To The Abbreviated Accounts
For The Year Ended 31 March 2016
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 goods and services net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer and the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to the date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
Turnover is recognised when goods are physically delivered to the customer and the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to the date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
of 20 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 and machinery
25% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
Benchmark Joinery (South East) Limited
Notes To The Abbreviated Accounts (Continued)
For The Year Ended 31 March 2016
Page 3
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
15,000
105,011
120,011
Additions
-
7,238
7,238
Disposals
-
(2,200)
(2,200)
At 31 March 2016
15,000
110,049
125,049
Depreciation
At 1 April 2015
8,597
82,739
91,336
On disposals
-
(1,676)
(1,676)
Charge for the year
750
5,965
6,715
At 31 March 2016
9,347
87,028
96,375
Net book value
At 31 March 2016
5,653
23,021
28,674
At 31 March 2015
6,403
22,271
28,674
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
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
£
£
£
£
£
Mr A J Mitchell -
-
(402)
5,836
-
-
5,434
(402)
5,836
-
-
5,434