Everbrite Home Improvements Limited - Abbreviated accounts 16.3
Everbrite Home Improvements Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| EVERBRITE HOME IMPROVEMENTS LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016 |
| EVERBRITE HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03004631) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| EVERBRITE HOME IMPROVEMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| EVERBRITE HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03004631) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2016 |
| 31.3.16 | 31.3.15 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| EVERBRITE HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03004631) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 MARCH 2016 |
| The financial statements were approved by the Board of Directors on by: |
| EVERBRITE HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03004631) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements 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 net invoiced sales of goods, excluding value added tax. Turnover is recognised when the |
| invoice is raised. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| No depreciation has been provided in respect of freehold building. As common in the investment property |
| industry the property is constantly maintained to a high standard through vast maintenance expenditure. The |
| company's property is included in the balance sheet at an open market value. The surplus(es) or deficit(s) on |
| revaluation of freehold building are transferred to the revaluation reserve, apart from when the revaluation which |
| is below the original cost is of permanent nature which is charged to the profit and loss account, if the client |
| believes it is a permanent diminuation in value. |
| This policy represents a departure from the statutory accounting principles, which require depreciation to be |
| provided on all fixed assets. The director considers that this policy is necessary in order that the accounts may |
| give a true and fair view because current values and changes in current values are of prime importance rather |
| than the calculation of systematic annual depreciation. Depreciation or amortisation is only one of many factors |
| reflects in the annual valuation and the amount which might otherwise have been shown cannot be separately |
| identified or quantified. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
| respect of all timing differences that have originated but not reversed at the balance sheet date. |
| However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely |
| than not that there will be suitable taxable profits from which the future reversal of the underlying timing |
| differences can be deducted. Deferred tax is not recognised on revaluation gains. Deferred taxation is measured |
| on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences |
| reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
| No provision has been made for deferred tax arising on the revaluation of the freehold property. An amount |
| would become liable in the event of the properties being sold, but there are no plans to sell in the foreseeable |
| future. |
| EVERBRITE HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03004631) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 31.3.16 | 31.3.15 |
| £ | £ |
| Repayable by instalments | 556,752 | 564,711 |
| EVERBRITE HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03004631) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
| value: | £ | £ |
| Ordinary | £1 |
| "B" Ordinary shares | £1 |
| 130 | 130 |