Barnes Drylining Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03357670

BARNES DRYLINING LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

6

DIRECTORS:

C R Barnes

N J Harris

REGISTERED OFFICE:

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

REGISTERED NUMBER:

03357670

ACCOUNTANTS:

Clear Vision Accountancy Limited

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

BANKERS:

Barclays Bank Plc

10/14 High Street

Old Town

Swindon

Wiltshire

SN1 3TT

FIXED ASSETS

Tangible assets

2

1,651

1,342

CURRENT ASSETS

Stocks

8,279

21,527

Debtors

3

206,127

353,023

214,406

374,550

CREDITORS

Amounts falling due within one year

145,788

292,878

NET CURRENT ASSETS

68,618

81,672

TOTAL ASSETS LESS CURRENT
LIABILITIES

70,269

83,014

CAPITAL AND RESERVES

Called up share capital

4

Capital redemption reserve

1,000

Profit and loss account

69,265

82,010

SHAREHOLDERS' FUNDS

70,269

83,014

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 7 December 2016 and were signed on its behalf by:

N J Harris - 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.

Revenue is only recognised on a construction contract where the outcome can be estimated reliably. Revenue and

costs are recognised by reference to the stage of completion of contract activity at the balance sheet date. This is

normally measured by surveys of work performed to date.

When it is probable that the total costs on a construction contract will exceed total contract revenue, the expected

loss is recognised as an expense immediately.

Amounts recoverable on construction contracts are included in trade debtors and stated at cost plus attributable profit

less any foreseeable losses.

Payments received on account for construction contracts are deducted from amounts recoverable on construction

contracts.

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period

of the lease.

Going concern

The directors have assessed whether the company is a going concern and have considered all available information

about the future and are confident of the company's ability to continue as a going concern.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

18,907

Additions

1,307

At 30 April 2016

20,214

DEPRECIATION

At 1 May 2015

17,565

Charge for year

998

At 30 April 2016

18,563

NET BOOK VALUE

At 30 April 2016

1,651

At 30 April 2015

1,342

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 35,224 (2015 - £ 11,152 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

1

B Class

£1

1

C Class

£1

1

4

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2016 and 30 April 2015:

2016

2015

£

C R Barnes

Balance outstanding at start of year

(8,763

)

(8,738

)

Amounts advanced

3,513

8,947

Amounts repaid

(10,463

)

(8,972

)

Balance outstanding at end of year

(15,713

)

(8,763

)

N J Harris

Balance outstanding at start of year

(16,728

)

(8,824

)

Amounts advanced

26,111

13,927

Amounts repaid

(28,160

)

(21,831

)

Balance outstanding at end of year

(18,777

)

(16,728

)

The above balances are included in creditors at the year end.

During the year dividends of £64,950 were voted and paid to the Directors.

6.	RELATED PARTY DISCLOSURES

Included in creditors at the year end is a loan from Mr R Barnes, father of the director Mr C Barnes of £nil (2015:

£21,000).

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Barnes Drylining Limited for the year ended 30 April 2016 which comprise the Profit and Loss Account, the

Balance Sheet and the related notes from the company's accounting records and from information and explanations you have

given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Barnes Drylining Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barnes Drylining Limited and state those matters that we have agreed to state to the Board of Directors of Barnes Drylining Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Barnes Drylining Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barnes Drylining Limited. You consider that Barnes Drylining Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Barnes Drylining Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clear Vision Accountancy Limited

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

8 December 2016