Bereco Limited - Period Ending 2016-03-31

Registration number: 04944033

Bereco Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Bereco Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Bereco Limited (Registration number: 04944033)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					95,146			62,424
Current assets
Stocks					38,912			23,346
Debtors					2,762,107			2,319,599
Cash at bank and in hand					10,008			116,879
					2,811,027			2,459,824
Creditors: Amounts falling due within one year					(1,253,809)			(1,107,097)
Net current assets					1,557,218			1,352,727
Total assets less current liabilities					1,652,364			1,415,151
Creditors: Amounts falling due after more than one year					(47,684)			(19,562)
Net assets					1,604,680			1,395,589
Capital and reserves
Called up share capital		3			79,000			79,000
Profit and loss account					1,525,680			1,316,589
Shareholders' funds					1,604,680			1,395,589

For the year ending 31 March 2016 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 19 May 2016

.........................................
Mr K Martin
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Bereco Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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 January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the 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
Office equipment	25% per annum on a reducing balance basis
Motor vehicles	20% per annum on a reducing balance basis
Property improvements	10 years on a straight line basis

Research and development

Research and development expenditure is written off as incurred.

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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Bereco Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		168,382			168,382
Additions		76,935			76,935
Disposals		(32,675)			(32,675)
At 31 March 2016		212,642			212,642
Depreciation
At 1 April 2015		105,958			105,958
Charge for the year		27,030			27,030
Eliminated on disposals		(15,492)			(15,492)
At 31 March 2016		117,496			117,496
Net book value
At 31 March 2016		95,146			95,146
At 31 March 2015		62,424			62,424

Page 3

Bereco Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		79,000			79,000			79,000			79,000

Page 4