Bishopstone Building Contractors Limited - Period Ending 2016-09-30

Registration number: 08216669

Bishopstone Building Contractors Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Kevin Alderton and Team
14 South Way
Newhaven
East Sussex
BN9 9LL

Bishopstone Building Contractors 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 Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bishopstone Building Contractors Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bishopstone Building Contractors Limited for the year ended 30 September 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Bishopstone Building Contractors Limited, as a body, in accordance with the terms of our engagement letterdated 2 October 2012. Our work has been undertaken solely to prepare for your approval the accounts of Bishopstone Building Contractors Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bishopstone Building Contractors Limited and its Board of Directors as a body for our work or for this report.

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

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

Kevin Alderton and Team
14 South Way
Newhaven
East Sussex
BN9 9LL

17 January 2016

Page 1

Bishopstone Building Contractors Limited
(Registration number: 08216669)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					20,000			20,000
Tangible fixed assets					23,617			7,989
					43,617			27,989
Current assets
Debtors					70,299			64,350
Cash at bank and in hand					12,936			27,689
					83,235			92,039
Creditors: Amounts falling due within one year					(86,570)			(83,259)
Net current (liabilities)/assets					(3,335)			8,780
Total assets less current liabilities					40,282			36,769
Provisions for liabilities					(4,724)			(1,598)
Net assets					35,558			35,171
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					35,556			35,169
Shareholders' funds					35,558			35,171

For the year ending 30 September 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 17 January 2016 and signed on its behalf by:

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

Bishopstone Building Contractors Limited
(Registration number: 08216669)
Abbreviated Balance Sheet at 30 September 2016
......... continued

.........................................
Mr Paul Johannes Lange
Director

.........................................
Mr Dominic David Creese
Director

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

Bishopstone Building Contractors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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.

Goodwill

Positive goodwill is capitalised and classified as an asset on the balance sheet. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

In accordance with FRS 10, no amortisation provision has been made in respect of purchased goodwill. The directors do not consider that any impairment of the value of the goodwill has occurred.

Asset class	Amortisation method and rate
Goodwill	not provided

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Plant and Machinery	25% on reducing balance
Office equipment	50% on reducing balance

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 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.

Page 4

Bishopstone Building Contractors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Hire purchase and leasing

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.

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

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		20,000			13,105			33,105
Additions		-			23,757			23,757
At 30 September 2016		20,000			36,862			56,862
Depreciation
At 1 October 2015		-			5,116			5,116
Charge for the year		-			8,129			8,129
At 30 September 2016		-			13,245			13,245
Net book value
At 30 September 2016		20,000			23,617			43,617
At 30 September 2015		20,000			7,989			27,989

Page 5

Bishopstone Building Contractors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Paul Johannes Lange
Advances	41,485	38,787	33,151	26,361
Mr Dominic David Creese
Advances	37,750	38,720	34,733	27,943

Page 6