Chris Bonington Limited - Period Ending 2015-04-30

Registration number: 01255261

Chris Bonington Limited

Unaudited Abbreviated Accounts

30 April 2015
 

Chris Bonington Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Financial Statements of
Chris Bonington Limited
for the Year Ended 30 April 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chris Bonington Limited for the year ended 30 April 2015 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Chris Bonington Limited, as a body, in accordance with the terms of our engagement letter dated 1 May 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Chris Bonington Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chris Bonington Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chris Bonington Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chris Bonington Limited. You consider that Chris Bonington Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chris Bonington Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

17 November 2015

Page 1

Chris Bonington Limited
(Registration number: 01255261)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			5,422			7,233
Current assets
Stocks					1,530			1,658
Debtors					36,236			37,983
Cash at bank and in hand					48,019			67,913
					85,785			107,554
Creditors: Amounts falling due within one year					(13,875)			(18,427)
Net current assets					71,910			89,127
Total assets less current liabilities					77,332			96,360
Provisions for liabilities					(552)			(794)
Net assets					76,780			95,566
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					76,680			95,466
Shareholders' funds					76,780			95,566

For the year ending 30 April 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 17 November 2015

.........................................
Sir C J S Bonington
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Chris Bonington Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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).

Turnover

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

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
Freehold land and buildings	15% reducing balance basis
Office equipment	25% reducing balance basis

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.

Page 3

Chris Bonington Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		42,306			42,306
At 30 April 2015		42,306			42,306
Depreciation
At 1 May 2014		35,073			35,073
Charge for the year		1,811			1,811
At 30 April 2015		36,884			36,884
Net book value
At 30 April 2015		5,422			5,422
At 30 April 2014		7,233			7,233

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4

Chris Bonington Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Sir C J S Bonington
Balance brought forward	4,366	-	-	-
Advances	17,278	-	7,454	-
Amounts repaid	-	12,714	-	1,804
Company expenses met personally	-	8,278	-	1,284
Dividends	-	1,250	-	-
Interest	234	-	-	-
	21,878	22,242	7,454	3,088
Lady M W Bonington
Balance brought forward	4,366	-	-	-
Advances	-	-	7,454	-
Amounts repaid	-	-	-	1,804
Company expenses met personally	-	-	-	1,284
Dividends	-	4,366	-	-
Interest	-	-	-	-
	4,366	4,366	7,454	3,088

  Directors' advances are repayable on demand.
  Interest has been charged at a rate of 3.25% on advances to directors up to 5 April 2015 and 3% thereafter.
  The maximum amounts owed by Sir C J S Bonington and Lady M W Bonington during the year were £11,760 and £4,366 respectively.

5

Control

The company is controlled by the director who own s 10% of the called up share capital and has an interest in 90% of the called up share capital as a trustee and beneficiary of a will trust .

Page 5