Company Registration No. 05895217 (England and Wales)
R S BURGESS & SONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2015
31 December 2015
R S BURGESS & SONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
R S BURGESS & SONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
60,608
25,609
Current assets
Stocks
750
500
Debtors
27,584
2,587
Cash at bank and in hand
29,954
60,496
58,288
63,583
Creditors: amounts falling due within one year
(75,370)
(68,642)
Net current liabilities
(17,082)
(5,059)
Total assets less current liabilities
43,526
20,550
Creditors: amounts falling due after more than one year
(938)
-
Provisions for liabilities
(12,122)
(5,122)
30,466
15,428
Capital and reserves
Called up share capital
3
4
4
Profit and loss account
30,462
15,424
Shareholders' funds
30,466
15,428
R S BURGESS & SONS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 12 September 2016
Mr D S Burgess
Director
Company Registration No. 05895217
R S BURGESS & SONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 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 January 2015).
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
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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:
Plant and machinery
10% reducing balance
Motor vehicles
20% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
R S BURGESS & SONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
30,851
Additions
43,338
At 31 December 2015
74,189
Depreciation
At 1 January 2015
5,242
Charge for the year
8,339
At 31 December 2015
13,581
Net book value
At 31 December 2015
60,608
At 31 December 2014
25,609
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4 Ordinary shares of £1 each
4
4
4
Related party relationships and transactions
Other transactions
There is a balance on directors loan account at 31 December 2015 of £23220 (31 December 2014 £1286) which is included in other creditors.
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