Company Registration No. 04933320 (England and Wales)
Benchmark Joinery (South East) Limited
Unaudited Abbreviated Financial Statements
For The Year Ended 31 March 2015
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 2015
Page 1
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
6,403
7,153
Tangible assets
2
22,271
25,848
28,674
33,001
Current assets
Debtors
17,522
13,697
Cash at bank and in hand
15,994
8
33,516
13,705
Creditors: amounts falling due within one year
(56,817)
(51,728)
Net current liabilities
(23,301)
(38,023)
Total assets less current liabilities
5,373
(5,022)
Creditors: amounts falling due after more than one year
(2,267)
(5,667)
3,106
(10,689)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
3,006
(10,789)
Shareholders' funds
3,106
(10,689)
For the financial year ended 31 March 2015 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 8 September 2015
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 2015
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 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. 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 2015
Page 3
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
15,000
80,978
95,978
Additions
-
3,852
3,852
Disposals
-
(1,007)
(1,007)
At 31 March 2015
15,000
83,823
98,823
Depreciation
At 1 April 2014
7,847
55,130
62,977
On disposals
-
(845)
(845)
Charge for the year
750
7,267
8,017
At 31 March 2015
8,597
61,552
70,149
Net book value
At 31 March 2015
6,403
22,271
28,674
At 31 March 2014
7,153
25,848
33,001
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Related party relationships and transactions
Loans from 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 -
-
3,323
-
-
2,921
402
3,323
-
-
2,921
402