Company Registration No. 08166837 (England and Wales)
BIRD OF SMITHFIELD LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2015
BIRD OF SMITHFIELD LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
BIRD OF SMITHFIELD LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
31 August 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
151,867
163,867
Tangible assets
2
1,303,535
1,470,976
1,455,402
1,634,843
Current assets
Stocks
17,029
13,258
Debtors
59,722
68,203
Cash at bank and in hand
215,040
43,082
291,791
124,543
Creditors: amounts falling due within one year
(259,372)
(298,672)
Net current assets/(liabilities)
32,419
(174,129)
Total assets less current liabilities
1,487,821
1,460,714
Creditors: amounts falling due after more than one year
3
(2,401,487)
(2,251,487)
(913,666)
(790,773)
Capital and reserves
Called up share capital
4
200
200
Profit and loss account
(913,866)
(790,973)
Shareholders' funds
(913,666)
(790,773)
BIRD OF SMITHFIELD LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2015
31 August 2015
- 2 -
For the financial year ended 31 August 2015 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 13 January 2016
S R Collins
A M Bird
Director
Director
Company Registration No. 08166837
BIRD OF SMITHFIELD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
- 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 April 2008).
These accounts have been prepared on the going concern basis despite net losses and an insolvent balance sheet. The directors and shareholders have indicated their continued support for the company for the foreseeable future.
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. Useful economic life is assessed as being equal to the leasehold term of 15 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:
Land and buildings Leasehold
15 years straight line
Fixtures, fittings & equipment
3 - 20 years straight line
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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.
BIRD OF SMITHFIELD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2014
179,911
1,699,237
1,879,148
Additions
-
4,253
4,253
At 31 August 2015
179,911
1,703,490
1,883,401
Depreciation
At 1 September 2014
16,044
228,261
244,305
Charge for the year
12,000
171,694
183,694
At 31 August 2015
28,044
399,955
427,999
Net book value
At 31 August 2015
151,867
1,303,535
1,455,402
At 31 August 2014
163,867
1,470,976
1,634,843
3
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
2,401,487
2,251,487
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
200 Ordinary shares of £1 each
200
200