Bridwell Park Estate Limited - Period Ending 2015-03-31

Registration number: 06581433

Bridwell Park Estate Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Bridwell Park Estate Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Bridwell Park Estate Limited
(Registration number: 06581433)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					2,550			-
Tangible fixed assets					151,382			18,448
		2			153,932			18,448
Current assets
Stocks					4,007			-
Debtors					22,008			14,520
Cash at bank and in hand					2,191			12
					28,206			14,532
Creditors: Amounts falling due within one year					(85,292)			(31,686)
Net current liabilities					(57,086)			(17,154)
Total assets less current liabilities					96,846			1,294
Creditors: Amounts falling due after more than one year					(322,626)			(50,000)
Net liabilities					(225,780)			(48,706)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(225,781)			(48,707)
Shareholders' deficit					(225,780)			(48,706)

Page 1

Bridwell Park Estate Limited
(Registration number: 06581433)
Abbreviated Balance Sheet at 31 March 2015

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 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 18 December 2015

Lord I A M Mountbatten Director

Page 2

Bridwell Park Estate Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

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 company has net liabilities of £225,780 and meets its day to day working capital requirements through a loan from its director.

The director of the company has confirmed his intention to fully support to Bridwell Park Estate Limited for the foreseeable future, and in view of this, the director considers it appropriate to prepare the financial statements on the going concern status.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers. Turnover is recognised when the goods have left the business premises.

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.

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
Land and buildings	10% straight line
Plant and machinery	25% straight line
Motor vehicles and tractors	25% straight line

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

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.

Page 3

Bridwell Park Estate Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		39,200			77,539			116,739
Additions		3,400			168,001			171,401
At 31 March 2015		42,600			245,540			288,140
Depreciation
At 1 April 2014		39,200			59,091			98,291
Charge for the year		850			35,067			35,917
At 31 March 2015		40,050			94,158			134,208
Net book value
At 31 March 2015		2,550			151,382			153,932
At 31 March 2014		-			18,448			18,448

3	Share capital

Allotted, called up and fully paid shares

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

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