BHP Performance Ltd - Period Ending 2016-04-30

Registration number: 07184420

BHP Performance Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

KRW Accountants Ltd
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

BHP Performance Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

BHP Performance Ltd
(Registration number: 07184420)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					56,785			70,635
Tangible fixed assets					60,805			69,246
					117,590			139,881
Current assets
Stocks					25,250			17,500
Debtors					53,496			42,243
Cash at bank and in hand					-			161
					78,746			59,904
Creditors: Amounts falling due within one year					(149,852)			(124,784)
Net current liabilities					(71,106)			(64,880)
Total assets less current liabilities					46,484			75,001
Creditors: Amounts falling due after more than one year					-			(54,305)
Net assets					46,484			20,696
Capital and reserves
Called up share capital		3			150,000			150,000
Profit and loss account					(103,516)			(129,304)
Shareholders' funds					46,484			20,696

For the year ending 30 April 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 director acknowledges his 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 .

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

BHP Performance Ltd
(Registration number: 07184420)
Abbreviated Balance Sheet at 30 April 2016
......... continued

Approved by the director on 17 January 2017

.........................................
Mr Brian Ausden
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

BHP Performance Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 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).

Going concern

The financial statements have been prepared on a going concern basis. The Director has pledged his continued support to the Company.

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, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. 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

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

Asset class	Amortisation method and rate
Goodwill	10% on cost

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
Motor vehicles	25% Reducing balance
Office equipment	15% Reducing balance
Plant & machinery	15% Reducing balance
Improvements to property	10% on cost

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.

Page 3

BHP Performance Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

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.

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2015		138,500			133,975			272,475
Additions		-			2,456			2,456
At 30 April 2016		138,500			136,431			274,931
Depreciation
At 1 May 2015		67,865			64,729			132,594
Charge for the year		13,850			10,897			24,747
At 30 April 2016		81,715			75,626			157,341
Net book value
At 30 April 2016		56,785			60,805			117,590
At 30 April 2015		70,635			69,246			139,881

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		150,000			150,000			150,000			150,000

Page 4