Company Registration No. 08100593 (England and Wales)
BDS INDUSTRIAL FABRICS (2012) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
BDS INDUSTRIAL FABRICS (2012) LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
BDS INDUSTRIAL FABRICS (2012) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BDS INDUSTRIAL FABRICS (2012) LIMITED FOR THE YEAR ENDED 30 JUNE 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 4 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 BDS Industrial Fabrics (2012) Limited for the year ended 30 June 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes 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 BDS Industrial Fabrics (2012) Limited, as a body, in accordance with the terms of our engagement letter dated 8 October 2015. Our work has been undertaken solely to prepare for your approval the financial statements of BDS Industrial Fabrics (2012) Limited and state those matters that we have agreed to state to the Board of Directors of BDS Industrial Fabrics (2012) 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 BDS Industrial Fabrics (2012) Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that BDS Industrial Fabrics (2012) 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 BDS Industrial Fabrics (2012) Limited. You consider that BDS Industrial Fabrics (2012) 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 BDS Industrial Fabrics (2012) 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.
Clear & Lane Limited
Chartered Accountants
340 Melton Road
Leicester
LE4 7SL
12 October 2016
BDS INDUSTRIAL FABRICS (2012) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
4,167
-
Tangible assets
2
2,943
4,088
7,110
4,088
Current assets
Stocks
29,882
33,974
Debtors
34,057
39,462
Cash at bank and in hand
105,433
97,979
169,372
171,415
Creditors: amounts falling due within one year
(23,183)
(12,346)
Net current assets
146,189
159,069
Total assets less current liabilities
153,299
163,157
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
153,199
163,057
Shareholders' funds
153,299
163,157
For the financial year ended 30 June 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 12 October 2016
Mr S Singh
Director
Company Registration No. 08100593
BDS INDUSTRIAL FABRICS (2012) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
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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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Income is recognised on an invoice basis on the completion of work.
1.3
Goodwill
Acquired goodwill is written off over its estimated useful economic life of 3 years .
of 3 years
.
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
20% straight line
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015
-
8,110
8,110
Additions
5,000
583
5,583
At 30 June 2016
5,000
8,693
13,693
Depreciation
At 1 July 2015
-
4,022
4,022
Charge for the year
833
1,728
2,561
At 30 June 2016
833
5,750
6,583
Net book value
At 30 June 2016
4,167
2,943
7,110
At 30 June 2015
-
4,088
4,088
BDS INDUSTRIAL FABRICS (2012) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
55 Ordinary shares of £1 each
55
55
25 Ordinary A shares of £1 each
25
25
10 Ordinary B shares of £1 each
10
10
10 Ordinary C shares of £1 each
10
10
100
100