Bijou Bottles Limited - Limited company accounts 16.3

REGISTERED NUMBER: 06681986 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Bijou Bottles Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Statement of Financial Position

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6

DIRECTORS:

G P Hall

J Lambert

REGISTERED OFFICE:

Trafalgar House

Wellesley Road

Tharston

Norwich

Norfolk

NR15 2PD

REGISTERED NUMBER:

06681986 (England and Wales)

ACCOUNTANTS:

Deardens

Trafalgar House

Wellesley Road

Tharston

Norfolk

NR15 2PD

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of distributors of wines.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2016 to the date of

this report.

G P Hall

J Lambert

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

G P Hall - Director

6 April 2017

TURNOVER

1,183,496

1,390,243

Cost of sales

855,715

1,105,112

GROSS PROFIT

327,781

285,131

Administrative expenses

301,531

295,056

26,250

(9,925

)

Other operating income

-

168

OPERATING PROFIT/(LOSS)

26,250

(9,757

)

Interest payable and similar expenses

(1,789

)

(29,108

)

PROFIT BEFORE TAXATION

28,039

19,351

Tax on profit

5,776

4,006

PROFIT FOR THE FINANCIAL YEAR

22,263

15,345

FIXED ASSETS

Tangible assets

5

15,412

17,860

CURRENT ASSETS

Stocks

147,596

142,723

Debtors

6

176,681

247,764

Cash at bank and in hand

10,533

11,561

334,810

402,048

CREDITORS

Amounts falling due within one year

7

295,939

387,398

NET CURRENT ASSETS

38,871

14,650

TOTAL ASSETS LESS CURRENT LIABILITIES

54,283

32,510

PROVISIONS FOR LIABILITIES

3,082

3,572

NET ASSETS

51,201

28,938

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

51,101

28,838

SHAREHOLDERS' FUNDS

51,201

28,938

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 April 2017 and were signed on its behalf by:

G P Hall - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2015

-

13,493

13,493

Changes in equity

Issue of share capital

100

-

100

Total comprehensive income

-

15,345

15,345

Balance at 31 December 2015

100

28,838

28,938

Changes in equity

Total comprehensive income

-

22,263

22,263

Balance at 31 December 2016

100

51,101

51,201

1.	STATUTORY INFORMATION

Bijou Bottles Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements for the year ended 31 December 2016 are the first financial statements that

comply with FRS 102 Section 1A small entities. The date of transition is 1 January 2015.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in

accounting policies to those used previously.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Improvements to leasehold property over period of the lease

Fixtures and fittings 15% reducing balance

Motor vehicles 25% reducing balance

Computer equipment 20% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

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

the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The

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

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2016

16,550

48,727

65,277

Additions

-

1,236

1,236

At 31 December 2016

16,550

49,963

66,513

DEPRECIATION

At 1 January 2016

16,549

30,868

47,417

Charge for year

-

3,684

3,684

At 31 December 2016

16,549

34,552

51,101

NET BOOK VALUE

At 31 December 2016

1

15,411

15,412

At 31 December 2015

1

17,859

17,860

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

18,874

DEPRECIATION

At 1 January 2016

12,558

Charge for year

1,482

At 31 December 2016

14,040

NET BOOK VALUE

At 31 December 2016

4,834

At 31 December 2015

6,316

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

172,557

245,964

Other debtors

4,124

1,800

176,681

247,764

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans and overdrafts

78,940

120,393

Hire purchase contracts

-

1,762

Trade creditors

172,118

199,636

Taxation and social security

36,004

52,283

Other creditors

8,877

13,324

295,939

387,398

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Bank overdrafts

78,940

120,393

The Lloyds Invoicing Discounting Account, included in Bank loans and overdrafts of £78,940 (2015

£120,393) is secured against the debtors of the company.

9.	RELATED PARTY DISCLOSURES

Included in Other debtors is an amount of £2,309 owed to the company by Mr Hall a director of the

company (2015 £7,597 owed to the directors of the company. The loan has since been repaid.