Bluebell Northwest Limited - Period Ending 2015-09-30

Registration number: 06965686

Bluebell Northwest Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

MacMahon Leggate Chartered Accountants Charter House 18-20 Finsley Gate Burnley BB11 2HA

Bluebell Northwest Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bluebell Northwest Limited
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bluebell Northwest Limited for the year ended 30 September 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Bluebell Northwest Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bluebell Northwest Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bluebell Northwest Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bluebell Northwest Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Bluebell Northwest Limited. You consider that Bluebell Northwest Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bluebell Northwest Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MacMahon Leggate
Chartered Accountants
Charter House
18-20 Finsley Gate
Burnley
Lancashire
BB11 2HA

30 June 2016

Page 1

Bluebell Northwest Limited
(Registration number: 06965686)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					5,060			78,608
Current assets
Stocks					35,737			69,229
Debtors					244,183			612,791
Cash at bank and in hand					89,794			71,317
					369,714			753,337
Creditors: Amounts falling due within one year					(90,472)			(447,596)
Net current assets					279,242			305,741
Net assets					284,302			384,349
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					284,202			384,249
Shareholders' funds					284,302			384,349

For the year ending 30 September 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 30 June 2016 and signed on its behalf by:

.........................................
Mr S Whitehead
Director

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 2

Bluebell Northwest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... 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 April 2008).

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
Plant and machinery	25% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	25% reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stock and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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 3

Bluebell Northwest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		85,504			85,504
Additions		573			573
Disposals		(72,435)			(72,435)
At 30 September 2015		13,642			13,642
Depreciation
At 1 October 2014		6,896			6,896
Charge for the year		1,686			1,686
At 30 September 2015		8,582			8,582
Net book value
At 30 September 2015		5,060			5,060
At 30 September 2014		78,608			78,608

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		-			74,500

Page 4

Bluebell Northwest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 5

Bluebell Northwest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr P Whitehead
The overdrawn loan account is unsecured and interest free	47,959	-	-	15,350
Mrs G Whitehead
The overdrawn loan account is unsecured and interest free	47,959	-	-	15,350
Mr S Whitehead
The overdrawn loan account is unsecured and interest free	2,887	-	-	-

Page 6