R.S. Birch and Partners Limited - Abbreviated accounts 16.3

R.S. Birch and Partners Limited - Abbreviated accounts 16.3

R.S. BIRCH AND PARTNERS LIMITED - Company Information

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REGISTERED NUMBER: 03403046 (England and Wales)


























ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

R.S. BIRCH AND PARTNERS LIMITED








R.S. BIRCH AND PARTNERS LIMITED (REGISTERED NUMBER: 03403046)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

R.S. BIRCH AND PARTNERS LIMITED (REGISTERED NUMBER: 03403046)

ABBREVIATED BALANCE SHEET
31 OCTOBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 91,198 71,287

CURRENT ASSETS
Stocks 1,103 1,050
Debtors 265,421 366,159
Cash at bank and in hand 33,404 221
299,928 367,430
CREDITORS
Amounts falling due within one year 3 217,672 284,867
NET CURRENT ASSETS 82,256 82,563
TOTAL ASSETS LESS CURRENT
LIABILITIES
173,454
153,850

CREDITORS
Amounts falling due after more than one
year
3
(47,895
)
(27,882
)

PROVISIONS FOR LIABILITIES (10,875 ) (12,418 )
NET ASSETS 114,684 113,550

CAPITAL AND RESERVES
Called up share capital 4 360 360
Capital redemption reserve 240 240
Profit and loss account 114,084 112,950
SHAREHOLDERS' FUNDS 114,684 113,550

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 13 February 2017 and were signed on its behalf
by:




Mr M A Crame - Director


The notes form part of these abbreviated accounts

Page 1
R.S. BIRCH AND PARTNERS LIMITED (REGISTERED NUMBER: 03403046)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016


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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of
Value Added Tax, and adjusted for uninvoiced sales.

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.

Plant & machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

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 where transactions or events have occurred at that date that will result in an obligation to pay
more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed
assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the
extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned.
However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more
likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the
replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that
there will be suitable taxable profits from which the future reversal of the underlying timing differences can be
deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance
sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either 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.

Page 2 continued...
R.S. BIRCH AND PARTNERS LIMITED (REGISTERED NUMBER: 03403046)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2016


1. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with
the lessor are charged against profits on a straight line basis over the period of the lease.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2015 201,503
Additions 44,611
At 31 October 2016 246,114
DEPRECIATION
At 1 November 2015 130,216
Charge for year 24,700
At 31 October 2016 154,916
NET BOOK VALUE
At 31 October 2016 91,198
At 31 October 2015 71,287

3. CREDITORS

Creditors include an amount of £ 76,013 (2015 - £ 91,514 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
360 Ordinary £1 360 360

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2016 and
31 October 2015:

2016 2015
£    £   
Mr M A Crame
Balance outstanding at start of year 13,906 17,475
Amounts advanced 59,857 56,838
Amounts repaid (71,539 ) (60,407 )
Balance outstanding at end of year 2,224 13,906

Mr M L Lee
Balance outstanding at start of year 32,261 36,927
Amounts advanced 41,092 39,877
Amounts repaid (44,197 ) (44,543 )
Balance outstanding at end of year 29,156 32,261

Page 3 continued...
R.S. BIRCH AND PARTNERS LIMITED (REGISTERED NUMBER: 03403046)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2016


5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr M J Lee
Balance outstanding at start of year 31,603 36,182
Amounts advanced 32,680 27,191
Amounts repaid (36,250 ) (31,770 )
Balance outstanding at end of year 28,033 31,603

The maximum overdrawn balance on Mr M A Crame's loan account during the year was £6,875 (2015: £13,906).
This loan was unsecured with interest charged at HMRC approved rates and will be repaid on 6th April 2016.

The maximum overdrawn balance on Mr M L Lee's loan account during the year was £33,555 (2015: £44,435).
This loan was unsecured with interest charged at HMRC approved rates and will be repaid on 6th April 2016.

The maximum overdrawn balance on Mr M J Lee's loan account during the year was £27,418 (2015: £31,603).
This loan was unsecured with interest charged at HMRC approved rates and will be repaid on 6th April 2016.

The following interest, at 10% per annum, has been credited to the loans during the year as follows; Mr M A
Crame £nil (2015: £2,810), Mr M L Lee £nil (2015: £nil), and Mr M J Lee £nil (2015: £nil).

Page 4