Tew Brothers Limited - Accounts

Tew Brothers Limited - Accounts

TEW BROTHERS LIMITED - Company Information

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Registered Number: 02799751


 

 

 


Abridged Accounts

for the year ended 31 March 2019

for

TEW BROTHERS LIMITED

Tew Brothers Limited
Contents Page
For the year ended 31 March 2019
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2019 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Brumijan Ltd t/a all about accounting
31 March 2019



....................................................
Brumijan Ltd t/a all about accounting
West Gate Lodge
Cams Hall Estate
Fareham
PO16 8UP
02 December 2019
1
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 3 317,716    306,545 
317,716    306,545 
Current assets      
Stocks 734,844    21,000 
Debtors 901,810    1,281,336 
Cash at bank and in hand 1,144    605 
1,637,798    1,302,941 
Creditors: amount falling due within one year (1,325,709)   (1,093,155)
Net current assets 312,089    209,786 
 
Total assets less current liabilities 629,805    516,331 
Creditors: amount falling due after more than one year (109,951)   (98,099)
Provisions for liabilities (3,452)   0 
Net assets 516,402    418,232 
 

Capital and reserves 		     
Called up share capital 4 10,000    10,000 
Profit and loss account 506,402    408,232 
Shareholders funds 516,402    418,232 
 


For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
Signed on behalf of the board of directors


--------------------------------
Shaun Tew
Director

Date approved by the board: 02 December 2019
2
General Information
Tew Brothers Limited is a private company, limited by shares, registered in , registration number 02799751, registration address Unit 5 RJ Mitchell Centre, Spitfire Quay, Hazel Road, Southampton, SO19 7GB.

The presentation currency is £ sterling
1.

Accounting Policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Deferred taxation
Deferred tax 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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10 Straight Line
Motor Vehicles 20% Reducing Balance
Land and Buildings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Tangible fixed assets

Cost Plant and Machinery   Motor Vehicles   Land and Buildings   Total
  £   £   £   £
At 01 April 2018 55,268    381,636    99,223    536,127 
Additions 6,864    79,750    -    86,614 
Disposals -    -    -    - 
At 31 March 2019 62,132    461,386    99,223    622,741 
Depreciation
At 01 April 2018 22,424    163,753    43,406    229,583 
Charge for year 10,470    51,016    13,956    75,442 
On disposals -    -    -    - 
At 31 March 2019 32,894    214,769    57,362    305,025 
Net book values
Closing balance as at 31 March 2019 29,238    246,617    41,861    317,716 
Opening balance as at 01 April 2018 32,844    217,884    55,817    306,545 

The net book value of Land and Buildings includes £41,861(2018 £55,817) in respect of assets leased under finance leases or hire purchase contracts.

3.

Share Capital

Allotted
2019
£		   2018
£
10,000 Class A shares of £1.00 each 10,000    10,000 
10,000    10,000 

3