Abbreviated Company Accounts - BURNTWOOD VALVES LIMITED

BURNTWOOD VALVES LIMITED - Company Information

01850196 BURNTWOOD VALVES LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 01850196 2015-04-01 2016-03-31 01850196 2016-03-31 01850196 2015-03-31 01850196 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 01850196 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 01850196

BURNTWOOD VALVES LIMITED

Abbreviated Accounts

31 March 2016

BURNTWOOD VALVES LIMITED Registered Number 01850196

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	23,246	30,703
		23,246	30,703
Current assets
Stocks		2,500	2,500
Debtors		281,849	166,498
Cash at bank and in hand		153,622	143,164
		437,971	312,162
Creditors: amounts falling due within one year		(156,831)	(97,289)
Net current assets (liabilities)		281,140	214,873
Total assets less current liabilities		304,386	245,576
Total net assets (liabilities)		304,386	245,576
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		304,286	245,476
Shareholders' funds		304,386	245,576

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 15 December 2016

And signed on their behalf by:
T M Spiller, Director

BURNTWOOD VALVES LIMITED Registered Number 01850196

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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

Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.

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:

Plant & Machinery - 10% on cost
Fixtures & Fittings - 10% and 33.3% on cost
Motor Vehicles - 25% 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.

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.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 April 2015	93,310
Additions	2,958
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	96,268
Depreciation
At 1 April 2015	62,607
Charge for the year	10,415
On disposals	-
At 31 March 2016	73,022
Net book values
At 31 March 2016	23,246
At 31 March 2015	30,703

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100