Bristol Channel Timber Supplies Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01652711 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

for

Bristol Channel Timber Supplies Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N B David

R N C David

REGISTERED OFFICE:

39 Ashton Vale Road

Ashton Gate

Bristol

BS3 2HW

REGISTERED NUMBER:

01652711 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

BANKERS:

Lloyds TSB

PO Box 153

53-55 Corn Street

Bristol

BS99 7LE

FIXED ASSETS

Tangible assets

2

427,460

434,394

CURRENT ASSETS

Stocks

25,601

30,881

Debtors

32,201

39,540

Cash in hand

541

760

58,343

71,181

CREDITORS

Amounts falling due within one year

3

137,385

133,560

NET CURRENT LIABILITIES

(79,042

)

(62,379

)

TOTAL ASSETS LESS CURRENT LIABILITIES

348,418

372,015

CREDITORS

Amounts falling due after more than one year

3

98,922

117,530

NET ASSETS

249,496

254,485

CAPITAL AND RESERVES

Called up share capital

4

305

305

Revaluation reserve

273,227

276,014

Profit and loss account

(24,036

)

(21,834

)

SHAREHOLDERS' FUNDS

249,496

254,485

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 29 September 2015 and were signed on its behalf by:

R N C David - 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 the amounts receivable, excluding VAT and trade discounts, by the company for

goods and services provided during the year. All transactions arose in the United Kingdom.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Going concern

The financial statements have been prepared on the going concern basis. This basis may not be

appropriate as the company is at present reliant on the support of its bankers and creditors.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

577,265

DEPRECIATION

At 1 January 2014

142,871

Charge for year

6,934

At 31 December 2014

149,805

NET BOOK VALUE

At 31 December 2014

427,460

At 31 December 2013

434,394

3.

CREDITORS

Creditors include an amount of £ 123,971 (31.12.13 - £ 146,294 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.12.14

31.12.13

£

£

Repayable by instalments

25,002

43,610

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

5

B Ordinary

£1

5

5

Allotted and issued:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

300

A Ordinary

£1

300

300