BRITANNIA_INTERNATIONAL_S - Accounts
BRITANNIA_INTERNATIONAL_S - Accounts
Company Registration No. 08652991 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRITANNIA INTERNATIONAL SUPPLIES LTD FOR THE YEAR ENDED 31 AUGUST 2016
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The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Britannia International Supplies Ltd for the year ended 31 August 2016 set out on pages 3 to 7 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, 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 Britannia International Supplies Ltd, as a body, in accordance with the terms of our engagement letter dated 1 May 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Britannia International Supplies Ltd and state those matters that we have agreed to state to the Board of Directors of Britannia International Supplies Ltd, 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 Britannia International Supplies Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Britannia International Supplies Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Britannia International Supplies Ltd. You consider that Britannia International Supplies Ltd 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 financial statements of Britannia International Supplies Ltd. 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 financial statements.
Mitchell Charlesworth LLP
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
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2016
2015
Notes
£
£
£
£
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(121,221 )
(252,348 )
Total assets less current liabilities
Capital and reserves
Called up share capital
2
Profit and loss account
Shareholder's funds
Director's responsibilities:
-
-
Approved by the Board for issue on 26 May 2017
Director
Company Registration No. 08652991
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
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1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
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.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.7
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3
Related party relationships and transactions
On 31 August 2016 Mr G Jbaili owed the company an amount of £9,696 (2015 £377 owed to Mr G Jbaili) which is included in other debtors.
The maximum overdrawn balance was £15,292; £15,919 was withdrawn and £5,846 was repaid.