Bispham Dry Cleaners Limited - Period Ending 2016-05-31

Office Copy
 Registration number: 03673049

Bispham Dry Cleaners Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Horne Brooke Shenton
Chartered Accountants
15 Olympic Court Boardmans Way
Whitehills Business Park
Blackpool
FY4 5GU

Bispham Dry Cleaners Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Bispham Dry Cleaners Limited
(Registration number: 03673049)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					3,128			4,170
Current assets
Debtors					7,096			8,661
Cash at bank and in hand					4,304			-
					11,400			8,661
Creditors: Amounts falling due within one year					(7,636)			(3,880)
Net current assets					3,764			4,781
Total assets less current liabilities					6,892			8,951
Creditors: Amounts falling due after more than one year					(6,225)			(8,930)
Provisions for liabilities					(626)			-
Net assets					41			21
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					39			19
Shareholders' funds					41			21

For the year ending 31 May 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 ensuring that the company keeps accounting records which comply with section 386 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 396 and which otherwise comply with the requirements of the Companies Act 2006 relating to the accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 26 January 2017 and signed on its behalf by:

..........................
Mr GA Brook
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Bispham Dry Cleaners Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 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 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
Motor Vehicles	25% reducing balance method
Equipment	25% reducing balance method

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.

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.

Page 2

Bispham Dry Cleaners Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		26,573			26,573
At 31 May 2016		26,573			26,573
Depreciation
At 1 June 2015		22,403			22,403
Charge for the year		1,042			1,042
At 31 May 2016		23,445			23,445
Net book value
At 31 May 2016		3,128			3,128
At 31 May 2015		4,170			4,170

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		2,436			2,436
Amounts falling due after more than one year		6,225			8,930
Total secured creditors		8,661			11,366

4	Share capital

Allotted, called up and fully paid shares

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

Page 3

Bispham Dry Cleaners Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr GA Brook
Private Payments	20,858	21,582	15,517	14,916

Page 4