BOSWELL_BUILDERS_LTD - Accounts

BOSWELL BUILDERS LTD - Company Information

Print Friendly Version

Company Registration No. 07702940 (England and Wales)

BOSWELL BUILDERS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

BOSWELL BUILDERS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BOSWELL BUILDERS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

6,917

2,730

Current assets

Stocks

5,264

5,346

Debtors

22,619

25,500

Cash at bank and in hand

6,602

1,712

34,485

32,558

Creditors: amounts falling due within one year

(62,984)

(53,224)

Net current liabilities

(28,499)

(20,666)

Total assets less current liabilities

(21,582)

(17,936)

Creditors: amounts falling due after more than one year

(3,205)

(24,787)

(17,936)

Capital and reserves

Called up share capital

Profit and loss account

(24,788)

(17,937)

Shareholders' funds

(24,787)

(17,936)

For the financial year ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 April 2016

Mr T Boswell

Director

Company Registration No. 07702940

BOSWELL BUILDERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

At the year end the company reported a deficiency in assets of £24,787 (2014: £17,936). The company is reliant on the continued support of its creditors to meet its day to day working capital requirements, and the director has been given no reason to believe that his support will be withdrawn to the detriment of the company within twelve months from the date of signature of these financial statements. It is therefore considered appropriate to prepare the financial statements on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment

25% reducing balance basis

Motor vehicles

25% reducing balance basis

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

BOSWELL BUILDERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 August 2014

6,377

Additions

9,061

Disposals

(6,090)

At 31 July 2015

9,348

Depreciation

At 1 August 2014

3,647

On disposals

(3,521)

Charge for the year

2,305

At 31 July 2015

2,431

Net book value

At 31 July 2015

6,917

At 31 July 2014

2,730

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary share of £1 each

Related party relationships and transactions

Other transactions

At the year end the director Mr T Boswell was owed £28,741 (2014: £17,454) via his director's current account.

During the year the company traded rent free from the director's home address during the year.