Abbreviated Company Accounts - GENUINE BUILDERS LIMITED

GENUINE BUILDERS LIMITED - Company Information

06286458 GENUINE BUILDERS LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 06286458 2013-04-01 2014-03-31 06286458 2014-03-31 06286458 2013-03-31 06286458 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 06286458 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:Director3 2013-04-01 2014-03-31 uk-gaap-cd-bus:Director3 2014-03-31 uk-gaap-cd-bus:Director3 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 iso4217:GBP shares

Registered Number 06286458

GENUINE BUILDERS LIMITED

Abbreviated Accounts

31 March 2014

GENUINE BUILDERS LIMITED Registered Number 06286458

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	42,261	45,512
Tangible assets	3	7,697	9,627
		49,958	55,139
Current assets
Stocks		1,550	1,425
Debtors		3,408	-
Cash at bank and in hand		10,306	18,399
		15,264	19,824
Creditors: amounts falling due within one year		(34,704)	(24,779)
Net current assets (liabilities)		(19,440)	(4,955)
Total assets less current liabilities		30,518	50,184
Creditors: amounts falling due after more than one year		0	(6,309)
Provisions for liabilities		(1,170)	(1,475)
Total net assets (liabilities)		29,348	42,400
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		29,248	42,300
Shareholders' funds		29,348	42,400

For the year ending 31 March 2014 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 1 October 2014

And signed on their behalf by:
JOHN LYNCH, Director
MATHEW LYNCH, Director

GENUINE BUILDERS LIMITED Registered Number 06286458

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for providing building works net of VAT.

Tangible assets depreciation policy
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:
Plant and machinery - 25% Reducing balance;
Computer equipment - 30% Reducing balance;
Motor vehicles - 25% Reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual installments over its estimated useful economic life.

2Intangible fixed assets

	£
Cost
At 1 April 2013	65,018
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	65,018
Amortisation
At 1 April 2013	19,506
Charge for the year	3,251
On disposals	-
At 31 March 2014	22,757
Net book values
At 31 March 2014	42,261
At 31 March 2013	45,512

3Tangible fixed assets

	£
Cost
At 1 April 2013	27,956
Additions	583
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	28,539
Depreciation
At 1 April 2013	18,329
Charge for the year	2,513
On disposals	-
At 31 March 2014	20,842
Net book values
At 31 March 2014	7,697
At 31 March 2013	9,627

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100

5Transactions with directors

Name of director receiving advance or credit:	J,L and M Lynch
Description of the transaction:	Directors' account
Balance at 1 April 2013:	£ 5,581
Advances or credits made:	£ 23,189
Advances or credits repaid:	-
Balance at 31 March 2014:	£ 28,770

As at 31 March 2014, included in "Other Creditors" is £28,770 (2013: £5,581) owed to the directors.During the period dividends totaling £15,000 (2013:£45,610) were paid to the directors.