British Overseas & Export Trading Limite - Abbreviated accounts 16.1

REGISTERED NUMBER: 00350633 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

British Overseas & Export Trading

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

E R S Lakeland

SECRETARY:

A Anselmi

REGISTERED OFFICE:

35a Hazlemere Road

Penn

Buckinghamshire

HP10 8AD

REGISTERED NUMBER:

00350633 (England and Wales)

ACCOUNTANTS:

PW Beere Accounting Solutions Limited

35a Hazlemere Road

Penn

Buckinghamshire

HP10 8AD

FIXED ASSETS

Tangible assets

2

15,550

5,986

Investments

3

10,690

26,240

16,676

CURRENT ASSETS

Debtors

87,782

104,966

Cash at bank and in hand

17,306

424

105,088

105,390

CREDITORS

Amounts falling due within one year

109,112

115,844

NET CURRENT LIABILITIES

(4,024

)

(10,454

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

22,216

6,222

CREDITORS

Amounts falling due after more than one
year

(7,097

)

-

PROVISIONS FOR LIABILITIES

(2,089

)

(1,197

)

NET ASSETS

13,030

5,025

CAPITAL AND RESERVES

Called up share capital

4

530,000

Profit and loss account

(516,970

)

(524,975

)

SHAREHOLDERS' FUNDS

13,030

5,025

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 9 December 2016 and were signed by:

E R S Lakeland - 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).

Preparation of consolidated financial statements

The financial statements contain information about British Overseas & Export Trading Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods and services, 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.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

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

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

176,102

Additions

16,387

Disposals

(20,530

)

At 31 March 2016

171,959

DEPRECIATION

At 1 April 2015

170,116

Charge for year

5,667

Eliminated on disposal

(19,374

)

At 31 March 2016

156,409

NET BOOK VALUE

At 31 March 2016

15,550

At 31 March 2015

5,986

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

20,690

PROVISIONS

At 1 April 2015

and 31 March 2016

10,000

NET BOOK VALUE

At 31 March 2016

10,690

At 31 March 2015

10,690

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

30,000

A Ordinary

1

30,000

500,000

B Ordinary

1

500,000

530,000