Building Restorations Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03995868 (England and Wales)

BUILDING RESTORATIONS LIMITED

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

to

4

Notes to the Abbreviated Accounts

5

to

6

DIRECTOR:

J A Wynn

REGISTERED OFFICE:

Unit 7

Cambridge Mills

Cambridge

Gloucestershire

GL2 7AA

REGISTERED NUMBER:

03995868 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

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

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages

three to six) 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 Building Restorations Limited for the year ended 31 March 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Building Restorations Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Building Restorations Limited and state those matters that we have agreed to state to the director of Building Restorations Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Building Restorations 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 Building Restorations Limited. You consider that Building Restorations 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 Building Restorations 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.

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

8 December 2016

FIXED ASSETS

Tangible assets

2

49,566

55,263

CURRENT ASSETS

Stocks

7,000

3,000

Debtors

146,982

230,037

Cash at bank and in hand

23,936

2,710

177,918

235,747

CREDITORS

Amounts falling due within one year

185,586

216,718

NET CURRENT (LIABILITIES)/ASSETS

(7,668

)

19,029

TOTAL ASSETS LESS CURRENT
LIABILITIES

41,898

74,292

PROVISIONS FOR LIABILITIES

9,712

10,807

NET ASSETS

32,186

63,485

CAPITAL AND RESERVES

Called up share capital

3

120

Profit and loss account

32,066

63,365

SHAREHOLDERS' FUNDS

32,186

63,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 8 December 2016 and were signed by:

J A Wynn - 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

101,421

Additions

10,322

At 31 March 2016

111,743

DEPRECIATION

At 1 April 2015

46,158

Charge for year

16,019

At 31 March 2016

62,177

NET BOOK VALUE

At 31 March 2016

49,566

At 31 March 2015

55,263

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

120

Ordinary Shares

1

120

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

31.3.16

31.3.15

£

J A Wynn

Balance outstanding at start of year

26,254

22,956

Amounts advanced

58,599

69,747

Amounts repaid

(64,821

)

(66,449

)

Balance outstanding at end of year

20,032

26,254

The loan is interest free and was cleared by way of capital introduced after the year end.