Bourton Fencing Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 01222959 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

BOURTON FENCING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R Orr

Mrs G R Orr

SECRETARY:

Mrs G R Orr

REGISTERED OFFICE:

The Rope House

Bourton

Gillingham

Dorset

SP8 5DB

REGISTERED NUMBER:

01222959 (England and Wales)

ACCOUNTANTS:

Andrews and Palmer

Chartered Accountants

The Square

Gillingham

Dorset

SP8 4AR

SOLICITORS:

Messrs Farnfield & Nicholls

The Square

Gillingham

Dorset

SP8 4AX

FIXED ASSETS

Tangible assets

2

61,666

67,305

CURRENT ASSETS

Stocks

25,246

20,344

Debtors

3

17,282

16,244

42,528

36,588

CREDITORS

Amounts falling due within one year

4

52,863

58,098

NET CURRENT LIABILITIES

(10,335

)

(21,510

)

TOTAL ASSETS LESS CURRENT LIABILITIES

51,331

45,795

CREDITORS

Amounts falling due after more than one year

5

(10,667

)

(11,659

)

PROVISIONS FOR LIABILITIES

9

(3,212

)

(4,340

)

NET ASSETS

37,452

29,796

CAPITAL AND RESERVES

Called up share capital

10

5,000

5,000

Profit and loss account

11

32,452

24,796

SHAREHOLDERS' FUNDS

37,452

29,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 and delivered 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 20 June 2017 and were signed on its behalf by:

P R Orr - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods and services, excluding value added tax. Turnover is recognised

in the period in which the goods are delivered and the service is performed.

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.

Freehold property

-

not provided

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation is provided on freehold buildings as the net recoverable amount is in excess of the carrying

value.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Deferred tax

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

sheet date.

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 the profit and loss account over the relevant period. The

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

2.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2015

45,605

40,167

57,948

143,720

Disposals

-

-

(15,995

)

(15,995

)

At 30 September 2016

45,605

40,167

41,953

127,725

DEPRECIATION

At 1 October 2015

-

38,508

37,907

76,415

Charge for year

-

415

4,939

5,354

Eliminated on disposal

-

-

(15,710

)

(15,710

)

At 30 September 2016

-

38,923

27,136

66,059

NET BOOK VALUE

At 30 September 2016

45,605

1,244

14,817

61,666

At 30 September 2015

45,605

1,659

20,041

67,305

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

Motor

vehicles

£

COST

At 1 October 2015

and 30 September 2016

23,203

DEPRECIATION

At 1 October 2015

5,801

Charge for year

4,350

At 30 September 2016

10,151

NET BOOK VALUE

At 30 September 2016

13,052

At 30 September 2015

17,402

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

£

Trade debtors

17,182

15,935

VAT

-

209

Prepayments

100

100

17,282

16,244

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

£

Bank loans and overdrafts

369

4,676

Hire purchase contracts

993

993

Trade creditors

25,525

25,528

Tax

6,372

726

Social security and other taxes

3,381

2,877

VAT

1,036

-

Directors' current accounts

7,997

15,902

Accrued expenses

7,190

7,396

52,863

58,098

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.16

30.9.15

£

£

Hire purchase contracts

10,667

11,659

6.	PREFERENCE SHARES

Details of preference shares are as follows:

7.	OPERATING LEASE COMMITMENTS

The following operating lease payments are committed to be paid within one year:

30.9.16

30.9.15

£

£

Expiring:

Within one year

-

800

Between one and five years

1,200

400

1,200

1,200

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.16

30.9.15

£

£

Bank overdrafts

369

4,676

Hire purchase contracts

11,660

12,652

12,029

17,328

The bank financing facilities are secured by a mortgage, in the bank's favour, on the company's freehold land and

buildings known as The Rope House, Bourton, Gillingham, Dorset.

9.	PROVISIONS FOR LIABILITIES

30.9.16

30.9.15

£

£

Deferred tax

3,212

4,340

Deferred

tax

£

Balance at 1 October 2015

4,340

Credit to Profit and Loss Account during year

(1,128

)

Balance at 30 September 2016

3,212

Deferred taxation is represented by accelerated capital allowances.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

£

5,000

Ordinary

£1

5,000

5,000

11.

RESERVES

Profit

and loss

account

£

At 1 October 2015

24,796

Profit for the year

20,976

Dividends

(13,320

)

At 30 September 2016

32,452

12.	RELATED PARTY DISCLOSURES

Mr & Mrs P Orr

Directors and shareholders

30.9.16

30.9.15

£

£

Amount due to related party at the balance sheet date

7,997

15,902

13.

CONTROL

The company is under the control and influence of the directors.