Company Registration No. 05135548 (England and Wales)
Bright White Limited
Abbreviated Accounts
For The Year Ended 31 August 2015
BRIGHT WHITE LIMITED
Bright White Limited
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
BRIGHT WHITE LIMITED
Bright White Limited
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
31 August 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,743
5,255
Current assets
Stocks
10,796
25,375
Debtors
34,271
43,601
Cash at bank and in hand
17,635
5,245
62,702
74,221
Creditors: amounts falling due within one year
3
(26,959)
(34,672)
Net current assets
35,743
39,549
Total assets less current liabilities
44,486
44,804
Creditors: amounts falling due after more than one year
4
-
(1,427)
Provisions for liabilities
(1,749)
(1,051)
42,737
42,326
Capital and reserves
Called up share capital
5
6
6
Profit and loss account
42,731
42,320
Shareholders' funds
42,737
42,326
BRIGHT WHITE LIMITED
Bright White Limited
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2015
31 August 2015
- 2 -
For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 31 May 2016
Mr C J Walker
Mr A Stanning
Director
Director
Company Registration No. 05135548
BRIGHT WHITE LIMITED
Bright White Limited
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
- 3 -
1
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).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
1.3
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:
Computer equipment
33% Straight line
Fixtures, fittings and equipment
20% Straight line
1.4
Leasing
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.
1.5
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.6
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.
BRIGHT WHITE LIMITED
Bright White Limited
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2014
30,994
Additions
6,410
Disposals
(309)
At 31 August 2015
37,095
Depreciation
At 1 September 2014
25,739
On disposals
(309)
Charge for the year
2,922
At 31 August 2015
28,352
Net book value
At 31 August 2015
8,743
At 31 August 2014
5,255
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £1,910 (2014 - £2,436).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £1,427).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
6 Ordinary shares of £1 each
6
6
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