Bowery Bros. Limited - Period Ending 2016-09-30

Registration number: 00555614

Bowery Bros. Limited

trading as Wrings Builders Merchants

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Dorrington Mundy
Chartered Accountants
5 Beauley Road
Southville
Bristol
BS3 1PX

Bowery Bros. Limited
trading as Wrings Builders Merchants
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bowery Bros. Limited
trading as Wrings Builders Merchants
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bowery Bros. Limited for the year ended 30 September 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Bowery Bros. Limited, as a body, in accordance with the terms of our engagement letterdated 1 April 2014. Our work has been undertaken solely to prepare for your approval the accounts of Bowery Bros. Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bowery Bros. Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bowery Bros. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bowery Bros. Limited. You consider that Bowery Bros. Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bowery Bros. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Dorrington Mundy
Chartered Accountants
5 Beauley Road
Southville
Bristol
BS3 1PX

26 May 2017

Page 1

Bowery Bros. Limited
trading as Wrings Builders Merchants
(Registration number: 00555614)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			969,141			773,981
Current assets
Stocks					60,064			54,016
Debtors					59,671			63,710
Cash at bank and in hand					190,084			146,670
					309,819			264,396
Creditors: Amounts falling due within one year					(316,581)			(217,778)
Net current (liabilities)/assets					(6,762)			46,618
Total assets less current liabilities					962,379			820,599
Creditors: Amounts falling due after more than one year					(142,300)			(227,525)
Provisions for liabilities					(11,533)			(9,223)
Net assets					808,546			583,851
Capital and reserves
Called up share capital		3			3,000			3,000
Revaluation reserve					186,127			-
Profit and loss account					619,419			580,851
Shareholders' funds					808,546			583,851

For the year ending 30 September 2016 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 24 May 2017 and signed on its behalf by:

.........................................
J A Wring
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Bowery Bros. Limited
trading as Wrings Builders Merchants
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents the invoiced value of sales, net of value added tax, in respect of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over theier expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Fixtures and fittings	25% reducing balance basis
Motor vehicles	25% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account when they fall due for payment.

Page 3

Bowery Bros. Limited
trading as Wrings Builders Merchants
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		991,417			991,417
Revaluations		186,127			186,127
Additions		32,854			32,854
Disposals		(73,207)			(73,207)
At 30 September 2016		1,137,191			1,137,191
Depreciation
At 1 October 2015		217,436			217,436
Charge for the year		19,225			19,225
Eliminated on disposals		(68,611)			(68,611)
At 30 September 2016		168,050			168,050
Net book value
At 30 September 2016		969,141			969,141
At 30 September 2015		773,981			773,981

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		3,000			3,000			3,000			3,000

Page 4