BASE_ESTATE_MANAGEMENT_LT - Accounts

BASE ESTATE MANAGEMENT LTD - Company Information

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Company Registration No. 06862608 (England and Wales)

BASE ESTATE MANAGEMENT LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

BASE ESTATE MANAGEMENT LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

BASE ESTATE MANAGEMENT LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

42,515

67,258

Current assets

Stocks

63,823

Debtors

950,270

641,014

Cash at bank and in hand

8,646

20,105

958,916

724,942

Creditors: amounts falling due within one year

(1,174,838)

(952,550)

Net current liabilities

(215,922)

(227,608)

Total assets less current liabilities

(173,407)

(160,350)

Creditors: amounts falling due after more than one year

(125,762)

(235,763)

(299,169)

(396,113)

Capital and reserves

Called up share capital

Profit and loss account

(299,171)

(396,115)

Shareholders' funds

(299,169)

(396,113)

For the financial year ended 31 March 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 3 May 2017

C Neill

Director

Company Registration No. 06862608

BASE ESTATE MANAGEMENT LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 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).

The financial statements have been prepared on a going concern basis. The company continues to rely on the support of its bankers and creditors.

1.2

Turnover

Turnover represents net invoiced sales of services , excluding value added tax .services, excluding value added tax.

1.3

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:

Plant and machinery

15% on reducing balance

Computer equipment

10% on cost

Motor vehicles

25% on cost

1.4

Stock and work in progress

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

1.5

Deferred taxation

Deferred taxation is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised for tax purposes.

Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

BASE ESTATE MANAGEMENT LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

110,030

Disposals

(2,208)

At 31 March 2016

107,822

Depreciation

At 1 April 2015

42,772

On disposals

(368)

Charge for the year

22,903

At 31 March 2016

65,307

Net book value

At 31 March 2016

42,515

At 31 March 2015

67,258

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £64,931 (2015 - £91,628).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £125,762 (2015 - £235,763).

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

BASE ESTATE MANAGEMENT LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Related party relationships and transactions

Directors loans

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

C Neill - DLA

84,582

S P Neill - DLA

74,333

79,221

153,554

74,333

163,803

238,136