Abbreviated Company Accounts - BUD & SON LIMITED
Abbreviated Company Accounts - BUD & SON LIMITED
Registered Number 00701935
BUD & SON LIMITED
Abbreviated Accounts
31 January 2015
BUD & SON LIMITED Registered Number 00701935
Abbreviated Balance Sheet as at 31 January 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 January 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
And signed on their behalf by:
BUD & SON LIMITED Registered Number 00701935
Notes to the Abbreviated Accounts for the period ended 31 January 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Other accounting policies
This represents capital introduced by the company into the syndicate plus accrued surpluses less deficiencies but without revaluing the syndicate properties. The syndicate in which the company is a participator has borrowings which are secured on the syndicate's property. The Company accounts for its syndicate investment under the "equity accounting" basis and thus the company's share of such borrowings is not included in these financial statements.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
£ | |
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Cost | |
At 1 February 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2015 |
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Depreciation | |
At 1 February 2014 |
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Charge for the year |
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On disposals |
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At 31 January 2015 |
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Net book values | |
At 31 January 2015 | 738,410 |
At 31 January 2014 | 738,410 |
3Fixed assets Investments
At 1 February 2014 - 116,718
Additions - 25,895
Disposals - (139,594)
At 31 January 2015 - 3,019