Bovington Refrigeration Limited - Period Ending 2015-06-30

Registration number: 04465386

Bovington Refrigeration Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Bulley Davey Limited
Chartered Certified Accountants
1 - 4 London Road
Spalding
Lincs
PE11 2TA

Bovington Refrigeration Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Bovington Refrigeration Limited
(Registration number: 04465386)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					43,750			50,000
Tangible fixed assets		2			33,061			39,576
					76,811			89,576
Current assets
Stocks					21,330			20,708
Debtors					307,946			130,285
Cash at bank and in hand					210,170			384,062
					539,446			535,055
Creditors: Amounts falling due within one year					(71,627)			(143,714)
Net current assets					467,819			391,341
Total assets less current liabilities					544,630			480,917
Provisions for liabilities					(4,572)			(6,223)
Net assets					540,058			474,694
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					540,057			474,693
Shareholders' funds					540,058			474,694

For the year ending 30 June 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 director acknowledges his 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 director on 5 December 2015

 Mr James Bovington
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Bovington Refrigeration Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% on cost per annum

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% reducing balance per annum
Plant and Machinery	15% reducing balance per annum
Office Equipment	10% reducing balance per annum

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Bovington Refrigeration Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		125,000			100,537			225,537
Additions		-			2,498			2,498
At 30 June 2015		125,000			103,035			228,035
Depreciation
At 1 July 2014		75,000			60,961			135,961
Charge for the year		6,250			9,013			15,263
At 30 June 2015		81,250			69,974			151,224
Net book value
At 30 June 2015		43,750			33,061			76,811
At 30 June 2014		50,000			39,576			89,576

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Share of £1 each		1			1			1			1

4

Control

The company is controlled by the parent company, JMB Holdings Limited, owning 100% of the called up share capital. The ultimate controlling party is James Bovington.

Page 3