BOSWELL_BUILDERS_LTD - Accounts

BOSWELL BUILDERS LTD - Company Information

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Company Registration No. 07702940 (England and Wales)

BOSWELL BUILDERS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2014

BOSWELL BUILDERS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BOSWELL BUILDERS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

2,731

3,640

Current assets

Stocks

5,346

8,160

Debtors

25,500

37,925

Cash at bank and in hand

1,712

3,402

32,558

49,487

Creditors: amounts falling due within one year

(53,224)

(52,050)

Net current liabilities

(20,666)

(2,563)

Total assets less current liabilities

(17,935)

1,077

Provisions for liabilities

(728)

(17,935)

349

Capital and reserves

Called up share capital

Profit and loss account

(17,936)

348

Shareholders' funds

(17,935)

349

For the financial year ended 31 July 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his 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 30 April 2015

Mr T M Boswell

Director

Company Registration No. 07702940

BOSWELL BUILDERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

- 2 -

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).

At the year end the company reported net current liabilities of £17,935 (2013: £2,563). The company is reliant on the continued support of its creditors to meet its day to day working capital requirements, and the director has been given no reason to believe that his support will be withdrawn to the detriment of the company within twelve months of signature of these financial statements. It is therefore considered appropriate to prepare the financial statements 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 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:

Fixtures, fittings & equipment

25% reducing balance basis

Motor vehicles

25% reducing balance basis

1.5

Stock

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

1.6

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.

BOSWELL BUILDERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 August 2013 & at 31 July 2014

6,377

Depreciation

At 1 August 2013

2,736

Charge for the year

910

At 31 July 2014

3,646

Net book value

At 31 July 2014

2,731

At 31 July 2013

3,640

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary share of £1 each

Related party relationships and transactions

Other transactions

At the year end the director Mr T M Boswell was owed £17,454 (2013: £5,106) via his director's current account.

The company traded rent free from the director's home address during the year.