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Balance Sheet | |||||||
as at |
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Notes | 2017 | 2016 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 |
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Current assets | |||||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 | ( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 6 | ( |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Revaluation reserve | 7 |
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Profit and loss account |
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Shareholder's funds |
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A M Alguthmi | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Intangible fixed assets | ||||||||
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Tangible fixed assets | ||||||||
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Short leasehold | 10% on cost | |||||||
Plant and machinery | 20% straight line | |||||||
Fixtures, fittings & Equipment | 20% straight line | |||||||
Pattern Books | 25% straight line | |||||||
Stocks | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Foreign currency translation | ||||||||
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Leased assets | ||||||||
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Pensions | ||||||||
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Financial instruements | ||||||||
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis. |
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2 | Employees | 2017 | 2016 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Tangible fixed assets | |||||||
Short leasehold | Fixtures, fittings & Equipment | Pattern books | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 April 2016 |
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Additions |
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- |
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Disposals | - | - | ( |
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At 31 March 2017 |
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- |
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Depreciation | ||||||||
At 1 April 2016 |
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Charge for the year |
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- |
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On disposals | - | - | ( |
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At 31 March 2017 |
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- |
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Net book value | ||||||||
At 31 March 2017 |
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- |
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At 31 March 2016 |
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During the year the policy of accounting for pattern books was changed, they are now written off to the profit and loss account when the expenditure is incurred. | ||||||||
4 | Debtors | 2017 | 2016 | |||||
£ | £ | |||||||
Trade debtors |
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Deferred tax asset |
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Other debtors |
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5 | Creditors: amounts falling due within one year | 2017 | 2016 | |||||
£ | £ | |||||||
Bank loans and overdrafts |
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Obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Other taxes and social security costs |
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Other creditors |
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6 | Creditors: amounts falling due after one year | 2017 | 2016 | |||||
£ | £ | |||||||
Non-equity preference shares |
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Bank loans |
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Obligations under finance lease and hire purchase contracts |
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7 | Capital redemption reserve | 2017 | 2016 | |||||
£ | £ | |||||||
At 1 April 2016 |
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At 31 March 2017 |
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8 | Events after the reporting date | |||||||
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9 | Controlling party | |||||||
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10 | Other information | |||||||
Bill Beaumont Textiles Ltd is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Unit 8 Froom Street | ||||||||
Lower Healey Business Park | ||||||||
Chorley | ||||||||
Lancashire | ||||||||
PR6 9AR |