Abbreviated Company Accounts - BARFAST ENGINEERING SUPPLIES LIMITED

BARFAST ENGINEERING SUPPLIES LIMITED - Company Information

06642768 BARFAST ENGINEERING SUPPLIES LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 06642768 2013-08-01 2014-07-31 06642768 2014-07-31 06642768 2013-07-31 06642768 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 06642768 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 iso4217:GBP shares

Registered Number 06642768

BARFAST ENGINEERING SUPPLIES LIMITED

Abbreviated Accounts

31 July 2014

BARFAST ENGINEERING SUPPLIES LIMITED Registered Number 06642768

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	16,155	20,194
Tangible assets	3	9,637	5,694
		25,792	25,888
Current assets
Stocks		14,000	12,000
Debtors		53,296	23,129
Cash at bank and in hand		11,240	8,631
		78,536	43,760
Prepayments and accrued income		5,646	1,109
Creditors: amounts falling due within one year	4	(71,465)	(38,720)
Net current assets (liabilities)		12,717	6,149
Total assets less current liabilities		38,509	32,037
Creditors: amounts falling due after more than one year	4	(40,232)	(29,020)
Provisions for liabilities		(1,784)	(1,139)
Accruals and deferred income		(2,051)	(1,812)
Total net assets (liabilities)		(5,558)	66
Capital and reserves
Called up share capital	5	3	1
Profit and loss account		(5,561)	65
Shareholders' funds		(5,558)	66

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 April 2015

And signed on their behalf by:
C Gibson, Director

BARFAST ENGINEERING SUPPLIES LIMITED Registered Number 06642768

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Plant & machinery - 25% on reducing balance and 33% on cost

Intangible assets amortisation policy
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the firs full financial year following acquisition and in other period if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation is provided so as to write off the cost over its expected useful life of 10 years on a straight line basis.

2Intangible fixed assets

	£
Cost
At 1 August 2013	40,388
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	40,388
Amortisation
At 1 August 2013	20,194
Charge for the year	4,039
On disposals	-
At 31 July 2014	24,233
Net book values
At 31 July 2014	16,155
At 31 July 2013	20,194

3Tangible fixed assets

	£
Cost
At 1 August 2013	8,331
Additions	7,168
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	15,499
Depreciation
At 1 August 2013	2,637
Charge for the year	3,225
On disposals	-
At 31 July 2014	5,862
Net book values
At 31 July 2014	9,637
At 31 July 2013	5,694

4Creditors

	2014 £	2013 £
Instalment debts due after 5 years	1,680	-

5Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
3 Ordinary shares of £1 each (1 shares for 2013)	3	1