R. BRIGGS SHEETMETAL FABRICATIONS LIMITED - Period Ending 2017-03-31

Registration number: 06845525

R. BRIGGS SHEETMETAL FABRICATIONS LIMITED

trading as R.Briggs Sheetmetal Fabrications Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Harrison Salmon Associates
Chartered Certified Accountants
4 Clayton Street
Great Harwood
Lancashire
BB6 7AQ

R. BRIGGS SHEETMETAL FABRICATIONS LIMITED
trading as R.Briggs Sheetmetal Fabrications Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R. BRIGGS SHEETMETAL FABRICATIONS LIMITED
trading as R.Briggs Sheetmetal Fabrications Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R. BRIGGS SHEETMETAL FABRICATIONS LIMITED for the year ended 31 March 2016 set out on pages 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/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of R. BRIGGS SHEETMETAL FABRICATIONS LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R. BRIGGS SHEETMETAL FABRICATIONS LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R. BRIGGS SHEETMETAL FABRICATIONS LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R. BRIGGS SHEETMETAL FABRICATIONS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R. BRIGGS SHEETMETAL FABRICATIONS LIMITED. You consider that R. BRIGGS SHEETMETAL FABRICATIONS 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 accounts of R. BRIGGS SHEETMETAL FABRICATIONS 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 accounts.

......................................

Harrison Salmon Associates
Chartered Certified Accountants
4 Clayton Street
Great Harwood
Lancashire
BB6 7AQ

29 September 2016

Page 1

R. BRIGGS SHEETMETAL FABRICATIONS LIMITED
trading as R.Briggs Sheetmetal Fabrications Limited
(Registration number: 06845525)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					212,035			194,386
Current assets
Stocks					17,500			15,000
Debtors					1,109,535			844,177
Cash at bank and in hand					149,536			177,540
					1,276,571			1,036,717
Creditors: Amounts falling due within one year					(508,608)			(557,002)
Net current assets					767,963			479,715
Total assets less current liabilities					979,998			674,101
Creditors: Amounts falling due after more than one year					(68,219)			(14,796)
Provisions for liabilities					(41,401)			(35,628)
Net assets					870,378			623,677
Capital and reserves
Called up share capital		4			300			300
Profit and loss account					870,078			623,377
Shareholders' funds					870,378			623,677

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 29 September 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

R. BRIGGS SHEETMETAL FABRICATIONS LIMITED
trading as R.Briggs Sheetmetal Fabrications Limited
(Registration number: 06845525)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr David Seal
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

R. BRIGGS SHEETMETAL FABRICATIONS LIMITED
trading as R.Briggs Sheetmetal Fabrications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and Machinery	20% Reducing balance basis
Office Equipment	20% Reducing balance basis
Motor Vehicles	20% Reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 4

R. BRIGGS SHEETMETAL FABRICATIONS LIMITED
trading as R.Briggs Sheetmetal Fabrications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		362,864			362,864
Additions		81,362			81,362
Disposals		(30,329)			(30,329)
At 31 March 2016		413,897			413,897
Depreciation
At 1 April 2015		168,478			168,478
Charge for the year		53,062			53,062
Eliminated on disposals		(19,678)			(19,678)
At 31 March 2016		201,862			201,862
Net book value
At 31 March 2016		212,035			212,035
At 31 March 2015		194,386			194,386

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		14,722			-

Page 5

R. BRIGGS SHEETMETAL FABRICATIONS LIMITED
trading as R.Briggs Sheetmetal Fabrications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100
B Shares of £1 each		100			100			100			100
C Shares of £1 each		100			100			100			100
		300			300			300			300

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Richard Briggs
Loan to the company	-	-	-	-
Mr David Seal
Loan to the company	-	-	-	-

Page 6