BEAVER_HOMES_(MANSFIELD)_ - Accounts

BEAVER HOMES (MANSFIELD) LIMITED - Company Information

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Company Registration No. 04279653 (England and Wales)

BEAVER HOMES (MANSFIELD) LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

BEAVER HOMES (MANSFIELD) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

BEAVER HOMES (MANSFIELD) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

8,223

1,850

Current assets

Stocks

91,964

88,831

Debtors

347,468

350,448

Cash at bank and in hand

628

439,432

439,907

Creditors: amounts falling due within one year

(79,937)

(68,197)

Net current assets

359,495

371,710

Total assets less current liabilities

367,718

373,560

Creditors: amounts falling due after more than one year

(5,135)

362,583

373,560

Capital and reserves

Called up share capital

Profit and loss account

362,581

373,558

Shareholders' funds

362,583

373,560

For the financial year ended 31 January 2016 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 25 October 2016

Mr A H Ripley

Director

Company Registration No. 04279653

BEAVER HOMES (MANSFIELD) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

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

25% reducing balance

Fixtures, fittings & equipment

3 years straight line

Motor vehicles

25% reducing balance

1.5

Leasing and hire purchase commitments

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.

1.6

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.7

Revenue recognition

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

BEAVER HOMES (MANSFIELD) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 February 2015

15,535

Additions

8,500

Disposals

(6,000)

At 31 January 2016

18,035

Depreciation

At 1 February 2015

13,685

On disposals

(5,575)

Charge for the year

1,702

At 31 January 2016

9,812

Net book value

At 31 January 2016

8,223

At 31 January 2015

1,850

Debtors

Debtors include an amount of £65,374 (2015 - £62,110) which is due after more than one year.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £4,409 (2015 - £0).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £5,135 (2015 - £0).

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each

BEAVER HOMES (MANSFIELD) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 4 -

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr A H Ripley - Advances

248,438

42,575

14,516

276,497

248,438

42,575

14,516

276,497