Bowland Tractors Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04563922

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

BOWLAND TRACTORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D R Bland

J C Bownes

SECRETARY:

Mrs L M Bland

REGISTERED OFFICE:

Kings Chambers

Queens Cross

High Street

Dudley

West Midlands

DY1 1QT

REGISTERED NUMBER:

04563922

ACCOUNTANTS:

Saxon & Co.

Kings Chambers

Queens Cross

High Street

Dudley

West Midlands

DY1 1QT

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

64,967

13,469

64,967

13,469

CURRENT ASSETS

Stocks

514,000

249,500

Debtors

263,299

329,581

Cash at bank

375,531

625,853

1,152,830

1,204,934

CREDITORS

Amounts falling due within one year

147,173

153,838

NET CURRENT ASSETS

1,005,657

1,051,096

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,070,624

1,064,565

PROVISIONS FOR LIABILITIES

6,454

2,470

NET ASSETS

1,064,170

1,062,095

CAPITAL AND RESERVES

Called up share capital

4

Profit and loss account

1,064,166

1,062,091

SHAREHOLDERS' FUNDS

1,064,170

1,062,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 November 2016 and were signed on its behalf
by:

D R Bland - Director

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & equipment

-

25% on reducing balance

Office equipment

-

25% on reducing balance

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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

18,000

AMORTISATION

At 1 March 2015

and 29 February 2016

18,000

NET BOOK VALUE

At 29 February 2016

-

At 28 February 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

47,661

Additions

67,699

At 29 February 2016

115,360

DEPRECIATION

At 1 March 2015

34,192

Charge for year

16,201

At 29 February 2016

50,393

NET BOOK VALUE

At 29 February 2016

64,967

At 28 February 2015

13,469

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary A

1

2

1

Ordinary B

1

2

Ordinary

1

4