Border Timberguard Limited - Abbreviated accounts 16.3

BORDER TIMBERGUARD LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

W B Gray

Mrs M L Gray

SECRETARY:

Mrs M L Gray

REGISTERED OFFICE:

Riverside House

Ladhope Vale

Galashiels

Borders

TD1 1BT

REGISTERED NUMBER:

SC348411 (Scotland)

ACCOUNTANTS:

JRW

Chartered Accountants

Riverside House

Ladhope Vale

Galashiels

Selkirkshire

TD1 1BT

FIXED ASSETS

Intangible assets

2

53,177

57,608

Tangible assets

3

36,832

26,661

90,009

84,269

CURRENT ASSETS

Stocks

28,220

35,216

Debtors

39,330

60,652

Cash at bank

63,647

19,565

131,197

115,433

CREDITORS

Amounts falling due within one year

136,794

122,104

NET CURRENT LIABILITIES

(5,597

)

(6,671

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

84,412

77,598

CREDITORS

Amounts falling due after more than one
year

11,945

-

NET ASSETS

72,467

77,598

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

72,367

77,498

SHAREHOLDERS' FUNDS

72,467

77,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 13th February 2017 and were signed
on its behalf by:

W B Gray - Director

Mrs M L Gray - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 the invoiced value of woodworm and dry rot specialist services, excluding value

added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2015

and 31st October 2016

88,630

AMORTISATION

At 1st November 2015

31,022

Amortisation for year

4,431

At 31st October 2016

35,453

NET BOOK VALUE

At 31st October 2016

53,177

At 31st October 2015

57,608

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2015

71,461

Additions

25,075

Disposals

(17,584

)

At 31st October 2016

78,952

DEPRECIATION

At 1st November 2015

44,800

Charge for year

12,379

Eliminated on disposal

(15,059

)

At 31st October 2016

42,120

NET BOOK VALUE

At 31st October 2016

36,832

At 31st October 2015

26,661

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Border Timberguard Limited for the year ended 31st October 2016

which comprise the Profit and Loss Account, the Balance Sheet, and the related notes 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Border Timberguard Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Border Timberguard Limited and state those matters that we have agreed to state to the Board of Directors of Border Timberguard Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Border Timberguard Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Border Timberguard Limited. You consider that Border Timberguard 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 financial statements of Border Timberguard 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 financial statements.

JRW

Chartered Accountants

Riverside House

Ladhope Vale

Galashiels

Selkirkshire

TD1 1BT

13th February 2017