BRICESCO_LIMITED - Accounts

BRICESCO LIMITED - Company Information

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Company Registration No. 6035964 (England and Wales)

BRICESCO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

BRICESCO LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

BRICESCO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

586,917

611,434

Current assets

Stocks

872,890

489,495

Debtors

340,668

495,625

Cash at bank and in hand

106,864

11,238

1,320,422

996,358

Creditors: amounts falling due within one year

(1,488,420)

(1,187,065)

Net current liabilities

(167,998)

(190,707)

Total assets less current liabilities

418,919

420,727

Creditors: amounts falling due after more than one year

(223,343)

(245,472)

Provisions for liabilities

(8,800)

186,776

166,455

Capital and reserves

Called up share capital

42,228

58,923

Other reserves

16,695

Profit and loss account

127,853

107,532

Shareholders' funds

186,776

166,455

BRICESCO LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 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 and authorised for issue on 27 August 2015

K.R.E. Kitson

Director

Company Registration No. 6035964

BRICESCO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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

Plant and machinery

20% reducing balance

Computer equipment

25% straight line

Fixtures, fittings & equipment

15% straight line

Motor vehicles

25% reducing balance

1.6

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.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.8

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.9

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.

BRICESCO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2014

37,800

771,274

809,074

Disposals

(10,283)

At 31 March 2015

37,800

760,991

798,791

Depreciation

At 1 April 2014

37,800

159,841

197,641

On disposals

(9,026)

Charge for the year

23,259

At 31 March 2015

37,800

174,074

211,874

Net book value

At 31 March 2015

586,917

At 31 March 2014

611,434

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £20,544 (2014 - £20,544).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £221,094 (2014 - £237,258).

Bank loan instalments totalling £138,918 (2014 - £155,082) are repayable after more than five years

BRICESCO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

16,695

16,695 Ordinary B shares of £1 each

16,695

16,695 Ordinary C shares of £1 each

16,695

5,892 Ordinary D shares of £1 each

5,892

2,946 Ordinary shares of £1 each

2,946

42,228

58,923