BAILEY_&_WADE_ENGINEERING - Accounts
BAILEY_&_WADE_ENGINEERING - Accounts
Company Registration No. 01200891 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2015
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(653,956 )
(403,407 )
Net current liabilities
(285,776 )
(140,308 )
Total assets less current liabilities
Provisions for liabilities
(71,547 )
(54,241 )
161,745
271,333
Capital and reserves
Called up share capital
4
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 12 January 2016
Director
Company Registration No. 01200891
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
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
1.4
Tangible fixed assets and depreciation
Leasehold property alterations
Plant and machinery
Fixtures, fittings & equipment
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2014
859,074
Additions
116,050
Disposals
(24,360)
At 31 August 2015
950,764
Depreciation
At 1 September 2014
393,192
On disposals
(22,974)
Charge for the year
61,478
At 31 August 2015
431,696
Net book value
At 31 August 2015
519,068
At 31 August 2014
465,882
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £11,285 (2014 - £14,008).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid