Brown & Fincher Limited - Period Ending 2016-08-31

Registration number: 02163253

Brown & Fincher Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Brown & Fincher Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Brown & Fincher Limited
(Registration number: 02163253)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					82,550			92,193
Current assets
Stocks					74,476			61,482
Debtors					105,263			107,145
Cash at bank and in hand					5,871			13,208
					185,610			181,835
Creditors: Amounts falling due within one year					(143,168)			(118,289)
Net current assets					42,442			63,546
Total assets less current liabilities					124,992			155,739
Creditors: Amounts falling due after more than one year					(13,013)			(20,939)
Provisions for liabilities					(12,796)			(13,581)
Net assets					99,183			121,219
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					98,183			120,219
Shareholders' funds					99,183			121,219

For the year ending 31 August 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 24 January 2017 and signed on its behalf by:

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

Brown & Fincher Limited
(Registration number: 02163253)
Abbreviated Balance Sheet at 31 August 2016
......... continued

.........................................
J W Fincher
Director

.........................................
P K Brown
Director

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

Brown & Fincher Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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
Rental TV's and VCR's etc.	25% on reducing balance
Fixtures and fittings	15% on reducing balance
Motor vehicles	25% on reducing balance

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.

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.

Page 3

Brown & Fincher Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		242,676			242,676
Additions		22,674			22,674
Disposals		(33,626)			(33,626)
At 31 August 2016		231,724			231,724
Depreciation
At 1 September 2015		150,483			150,483
Charge for the year		24,338			24,338
Eliminated on disposals		(25,647)			(25,647)
At 31 August 2016		149,174			149,174
Net book value
At 31 August 2016		82,550			82,550
At 31 August 2015		92,193			92,193

3	Share capital

Allotted, called up and fully paid shares

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

Page 4