Abbreviated Company Accounts - BURNTWOOD VALVES LIMITED

BURNTWOOD VALVES LIMITED - Company Information

Registered Number 01850196

BURNTWOOD VALVES LIMITED

Abbreviated Accounts

31 March 2015

BURNTWOOD VALVES LIMITED Registered Number 01850196

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	30,703	40,823
		30,703	40,823
Current assets
Stocks		2,500	2,500
Debtors		166,498	153,710
Cash at bank and in hand		143,164	203,845
		312,162	360,055
Creditors: amounts falling due within one year		(97,289)	(161,980)
Net current assets (liabilities)		214,873	198,075
Total assets less current liabilities		245,576	238,898
Total net assets (liabilities)		245,576	238,898
Capital and reserves
Called up share capital		100	100
Profit and loss account		245,476	238,798
Shareholders' funds		245,576	238,898

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 November 2015

And signed on their behalf by:
T M Spiller, Director

BURNTWOOD VALVES LIMITED Registered Number 01850196

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after a deduction of trade discounts and value added tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings - 10% and 33.3% on cost
Plant and Machinery - 10% on cost
Motor Vehicles - 25% on cost

Other accounting policies
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Operating Lease Agreements
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss.

2Tangible fixed assets

	£
Cost
At 1 April 2014	93,310
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	93,310
Depreciation
At 1 April 2014	52,487
Charge for the year	10,120
On disposals	-
At 31 March 2015	62,607
Net book values
At 31 March 2015	30,703
At 31 March 2014	40,823