Burroughs Construction Limited - Period Ending 2015-12-31

Registration number: 08595620

Burroughs Construction Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Your Accounts Team Limited
Flat 4
22 Cambridge Road
Hove
East Sussex
BN3 1DF

Burroughs Construction Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Burroughs Construction Limited
(Registration number: 08595620)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,208			1,300
Current assets
Stocks					5,268			22,278
Debtors					2,206			-
Cash at bank and in hand					128,809			61,766
					136,283			84,044
Creditors: Amounts falling due within one year					(109,217)			(44,510)
Net current assets					27,066			39,534
Net assets					28,274			40,834
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					28,174			40,734
Shareholders' funds					28,274			40,834

For the year ending 31 December 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 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 2 August 2016

.........................................
Mr Jan Burroughs
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Burroughs Construction Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Turnover

Turnover represents the invoiced value of work completed during the year, adjusted for the value of work in process at the year end, net of value added tax.

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 commencing from the date of purchase, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per annum, straight line
Office machinery	25% per annum, straight line

Long term contracts

Work in progress is valued at the estimated cost of work completed at the balance sheet date after taking account of the estimated costs to completion and the ultimate sale value.

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.

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.

Page 2

Burroughs Construction Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		1,486			1,486
Additions		299			299
At 31 December 2015		1,785			1,785
Depreciation
At 1 January 2015		186			186
Charge for the year		391			391
At 31 December 2015		577			577
Net book value
At 31 December 2015		1,208			1,208
At 31 December 2014		1,300			1,300

3	Share capital

Allotted, called up and fully paid shares

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

Page 3