Badger Fuels Limited - Period Ending 2016-04-30

Registration number: 04599111

Badger Fuels Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Jeremy Stewart, Chartered Accountants
Basepoint Centre
70 The Havens
Ipswich
IP3 9BF

Badger Fuels Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Badger Fuels Limited
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Badger Fuels Limited for the year ended 30 April 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Badger Fuels Limited, as a body, in accordance with the terms of our engagement letterdated 16 December 2014. Our work has been undertaken solely to prepare for your approval the accounts of Badger Fuels Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Badger Fuels Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Badger Fuels 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 Badger Fuels Limited. You consider that Badger Fuels 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 Badger Fuels 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.

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

Jeremy Stewart, Chartered Accountants
Basepoint Centre
70 The Havens
Ipswich
IP3 9BF

7 November 2016

Page 1

Badger Fuels Limited
(Registration number: 04599111)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					29,470			32,127
Current assets
Stocks					3,729			4,373
Debtors					8,564			1,230
Cash at bank and in hand					36,982			73,406
					49,275			79,009
Creditors: Amounts falling due within one year					(6,880)			(8,412)
Net current assets					42,395			70,597
Total assets less current liabilities					71,865			102,724
Creditors: Amounts falling due after more than one year					(44,287)			(80,000)
Provisions for liabilities					(4,960)			(5,440)
Net assets					22,618			17,284
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					22,617			17,283
Shareholders' funds					22,618			17,284

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 .

Approved by the director on 7 November 2016

.........................................
Mr N A Wicks
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Badger Fuels Limited
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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Office equipment	20% reducing balance
Plant and machinery	20% reducing balance
Motor vehicles	25% reducing balance
Freehold property	5% straight line

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.

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 the 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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

Page 3

Badger Fuels Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

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

		Tangible assets £			Total £
Cost
At 1 May 2015		67,294			67,294
Additions		4,543			4,543
At 30 April 2016		71,837			71,837
Depreciation
At 1 May 2015		35,167			35,167
Charge for the year		7,200			7,200
At 30 April 2016		42,367			42,367
Net book value
At 30 April 2016		29,470			29,470
At 30 April 2015		32,127			32,127

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		44,287			80,000

Page 4

Badger Fuels Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

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

5

Control

The company is controlled by Mr N Wicks by virtue of his shareholding.

Page 5