S J Burrough Agricultural Engineering Limited Small abbreviated accounts

S J Burrough Agricultural Engineering Limited Small abbreviated accounts

S J BURROUGH AGRICULTURAL ENGINEERING LIMITED - Company Information

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FY Private Limited Company Company accounts 2016-12-21 2016-12-21 false true false false false false false false false false false false true true 2015-04-01 true xbrli:pure xbrli:shares iso4217:GBP 04688112 2015-04-01 2016-03-31 04688112 2016-03-31 04688112 2015-03-31 04688112 2015-03-31 04688112 uk-gaap:PlantMachinery 2015-04-01 2016-03-31 04688112 uk-gaap:MotorVehicles 2015-04-01 2016-03-31 04688112 uk-gaap:OfficeEquipment 2015-04-01 2016-03-31 04688112 uk-gaap:NetGoodwill 2015-04-01 2016-03-31 04688112 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-04-01 2016-03-31 04688112 uk-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 04688112 uk-bus:Director1 2015-04-01 2016-03-31 04688112 uk-gaap:AllSubsidiaries 2015-04-01 2016-03-31 04688112 uk-bus:OrdinaryShareClass1 2016-03-31 04688112 uk-bus:OrdinaryShareClass1 2015-03-31 04688112 uk-lang:English 2015-04-01 2016-03-31 04688112 uk-curr:PoundSterling 2015-04-01 2016-03-31
COMPANY REGISTRATION NUMBER 04688112
S J BURROUGH AGRICULTURAL ENGINEERING LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
31 March 2016
CHALMERS & CO (SW) LIMITED
Chartered Accountants
Trading as Chalmers & Co.
6 The Linen Yard
South Street
Crewkerne
Somerset
TA18 8AB
S J BURROUGH AGRICULTURAL ENGINEERING LIMITED
ABBREVIATED BALANCE SHEET
31 March 2016
2016
2015
Note
£
£
£
FIXED ASSETS
2
Intangible assets
6,545
7,480
Tangible assets
23,799
23,025
--------
--------
30,344
30,505
--------
--------
CURRENT ASSETS
Stocks
35,297
39,329
Debtors
105,244
117,428
Investments
35,000
43,200
Cash at bank and in hand
44,544
17,936
----------
----------
220,085
217,893
CREDITORS: Amounts falling due within one year
70,814
85,416
----------
----------
NET CURRENT ASSETS
149,271
132,477
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
179,615
162,982
PROVISIONS FOR LIABILITIES
4,759
4,545
----------
----------
174,856
158,437
----------
----------
CAPITAL AND RESERVES
Called up equity share capital
3
100
100
Profit and loss account
174,756
158,337
----------
----------
SHAREHOLDERS' FUNDS
174,856
158,437
----------
----------
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on 13 December 2016 .
S J Burrough
Company Registration Number: 04688112
S J BURROUGH AGRICULTURAL ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MARCH 2016
1. ACCOUNTING POLICIES
Basis of accounting
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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill - 20 years straight line basis
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Leasehold Property Improvements - 10 years straight line basis
Equipment - 25% reducing balance basis
Motor Vehicles - 25% reducing balance basis
Computer Equipment - 3 years straight line basis
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
In accordance with Financial Reporting Standard for Smaller Entities (effective January 2015) (FRSSE),the difference between the accounting treatment and tax treatment for depreciation in respect of accelerated capital allowances and other timing differences, is provided in full. Provision is made, or recovery anticipated, where timing differences have originated but not reversed by the balance sheet date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
2. FIXED ASSETS
Intangible Assets
Tangible Assets
Total
£
£
£
COST
At 1 April 2015
18,700
89,346
108,046
Additions
–
11,509
11,509
Disposals
–
( 17,338)
(17,338)
--------
--------
----------
At 31 March 2016
18,700
83,517
102,217
--------
--------
----------
DEPRECIATION
At 1 April 2015
11,220
66,321
77,541
Charge for year
935
8,278
9,213
On disposals
–
( 14,881)
(14,881)
--------
--------
--------
At 31 March 2016
12,155
59,718
71,873
--------
--------
--------
NET BOOK VALUE
At 31 March 2016
6,545
23,799
30,344
-------
--------
--------
At 31 March 2015
7,480
23,025
30,505
-------
--------
--------
3. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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