B_R_SHREEVE_&_SONS_LIMITE - Accounts

B.R. SHREEVE & SONS LIMITED - Company Information

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Company Registration No. 00380931 (England and Wales)

B R SHREEVE & SONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

B R SHREEVE & SONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

B R SHREEVE & SONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

4,423

5,896

Tangible assets

2,237,405

2,473,509

2,241,828

2,479,405

Current assets

Stocks

108,779

90,445

Debtors

351,164

374,141

Cash at bank and in hand

3,980

3,499

463,923

468,085

Creditors: amounts falling due within one year

(622,249)

(711,441)

Net current liabilities

(158,326)

(243,356)

Total assets less current liabilities

2,083,502

2,236,049

Creditors: amounts falling due after more than one year

(683,847)

(838,449)

Provisions for liabilities

(106,056)

(103,229)

1,293,599

1,294,371

Capital and reserves

Called up share capital

2,534

Profit and loss account

1,291,065

1,291,837

Shareholders' funds

1,293,599

1,294,371

B R SHREEVE & SONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 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 April 2015

Mr K Shreeve

Mr R Shreeve

Director

Company Registration No. 00380931

B R SHREEVE & SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

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).

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand.

The company has prepared projections for a period of 9 months from the date of these financial statements. These projections show that the company can operate within its agreed facilities during this period. The company is in regular contact with its bankers and has no cause to believe that the bank's support will be withdrawn. The directors believe that the company's performance over the next year (from the date of approval of these financial statements) will generate sufficient operating cash to allow the company, along with the continued support of its banker, to meet its on-going financial commitments. Accordingly, these financial statements have been prepared on a going concern basis.

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

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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 Freehold

2% straight line

Fixtures and fittings

15% Reducing Balance

Plant and Equipment

15% Reducing Balance

Motor vehicles

15%/25% Reducing Balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

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.

B R SHREEVE & SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

Accounting policies

(Continued)

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2014

18,245

5,560,059

5,578,304

Additions

52,839

Disposals

(167,479)

At 31 December 2014

18,245

5,445,419

5,463,664

Depreciation

At 1 January 2014

12,348

3,086,549

3,098,897

On disposals

(134,984)

Charge for the year

1,474

256,449

257,923

At 31 December 2014

13,822

3,208,014

3,221,836

Net book value

At 31 December 2014

4,423

2,237,405

2,241,828

At 31 December 2013

5,896

2,473,509

2,479,405

Creditors: amounts falling due within one year

Hire purchase agreements are secured on the assets concerned. The bank borrowing is secured by a debenture over the assets of the company including a legal charge over the property owned by the company. There is also a personal guarantee in place from Mr R B Shreeve, a director of the company, limited to £200,000.

Share capital

2014

2013

Allotted, called up and fully paid

2,534 Ordinary shares of £1 each

2,534