Bright_White_Limited - Accounts

BRIGHT WHITE LIMITED - Company Information

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Company Registration No. 05135548 (England and Wales)

Bright White Limited

Abbreviated Accounts

For The Year Ended 31 August 2016

BRIGHT WHITE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BRIGHT WHITE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

15,364

Tangible assets

6,822

8,743

22,186

8,743

Current assets

Stocks

30,024

10,796

Debtors

40,765

34,271

Cash at bank and in hand

4,998

17,635

75,787

62,702

Creditors: amounts falling due within one year

(56,332)

(26,959)

Net current assets

19,455

35,743

Total assets less current liabilities

41,641

44,486

Provisions for liabilities

(1,691)

(1,749)

39,950

42,737

Capital and reserves

Called up share capital

Profit and loss account

39,944

42,731

Shareholders' funds

39,950

42,737

For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 15 March 2017

Mr C J Walker

Mr A D Stanning

Director

Company Registration No. 05135548

BRIGHT WHITE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

1.3

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% Straight line

Fixtures, fittings and equipment

20% Straight line

1.5

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

BRIGHT WHITE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 September 2015

37,095

Additions

15,364

1,853

17,217

Disposals

(195)

At 31 August 2016

15,364

38,753

54,117

Depreciation

At 1 September 2015

28,352

On disposals

(28)

Charge for the year

3,607

At 31 August 2016

31,931

Net book value

At 31 August 2016

15,364

6,822

22,186

At 31 August 2015

8,743

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £1,910).

Share capital

2016

2015

Allotted, called up and fully paid

6 Ordinary shares of £1 each