BRADTECH_LIMITED - Accounts

BRADTECH LIMITED - Company Information

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Company Registration No. 01878677 (England and Wales)

BRADTECH LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2015

BRADTECH LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BRADTECH LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,365

1,343

Current assets

Stocks

43,335

39,155

Debtors

22,340

29,377

Cash at bank and in hand

48,652

54,311

114,327

122,843

Creditors: amounts falling due within one year

(42,862)

(52,311)

Net current assets

71,465

70,532

Total assets less current liabilities

73,830

71,875

Provisions for liabilities

(230)

73,600

71,875

Capital and reserves

Called up share capital

3,650

Other reserves

1,350

Profit and loss account

68,600

66,875

Shareholders' funds

73,600

71,875

For the financial year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 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 13 August 2015

Mr J W Bradburn

Director

Company Registration No. 01878677

BRADTECH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

- 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).

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:

Leasehold land and buildings

Over the period of the lease

Computer equipment

3 years straight line

Fixtures, fittings and equipment

10%-25% per annum straight line

1.5

Stock

Stock is valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis.

1.6

Revenue recognition

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

BRADTECH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 June 2014

34,012

Additions

2,430

Disposals

(4,974)

At 31 May 2015

31,468

Depreciation

At 1 June 2014

32,670

On disposals

(4,974)

Charge for the year

1,407

At 31 May 2015

29,103

Net book value

At 31 May 2015

2,365

At 31 May 2014

1,343

Share capital

2015

2014

Allotted, called up and fully paid

3,650 Ordinary shares of £1 each

3,650