Budget Cases Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05981665 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

BUDGET CASES LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

84,306

36,421

CURRENT ASSETS

Stocks

79,423

58,739

Debtors

333,761

223,032

Cash at bank

229,203

160,730

642,387

442,501

CREDITORS

Amounts falling due within one year

282,282

221,978

NET CURRENT ASSETS

360,105

220,523

TOTAL ASSETS LESS CURRENT LIABILITIES

444,411

256,944

PROVISIONS FOR LIABILITIES

16,300

6,800

NET ASSETS

428,111

250,144

CAPITAL AND RESERVES

Called up share capital

3

300

300

Profit and loss account

427,811

249,844

SHAREHOLDERS' FUNDS

428,111

250,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 July 2015 and were signed on its behalf by:

Mr A T Earley - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property improvements

-

Over the term of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

Grants

Revenue grants are included in the Statement of Financial Activities in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

80,925

Additions

60,658

Disposals

(5,023

)

At 31 December 2014

136,560

DEPRECIATION

At 1 January 2014

44,504

Charge for year

12,773

Eliminated on disposal

(5,023

)

At 31 December 2014

52,254

NET BOOK VALUE

At 31 December 2014

84,306

At 31 December 2013

36,421

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

300

Ordinary

£1

300

300