Box Inn Limited - Period Ending 2016-09-30

Registration number: 05102953

Box Inn Limited
 
  Draft Profit and Loss Account
 
  for the Year Ended 30 September 2016
 

J S Weeks & Co
41 St John's Street
Devizes
Wiltshire
SN10 1BL

Box Inn Limited
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 Director on the Preparation of the Unaudited Statutory Accounts of
Box Inn Limited
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 Box Inn Limited for the year ended 30 September 2016 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Box Inn Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Box Inn Limited and state those matters that we have agreed to state to them, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Box Inn Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Box Inn 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 Box Inn Limited. You consider that Box Inn 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 Box Inn 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.

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

J S Weeks & Co
41 St John's Street
Devizes
Wiltshire
SN10 1BL

24 June 2017

Page 1

Box Inn Limited
(Registration number: 05102953)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					30,000			33,750
Tangible fixed assets					31,655			28,736
					61,655			62,486
Current assets
Stocks					6,700			7,900
Cash at bank and in hand					1,570			1,567
					8,270			9,467
Creditors: Amounts falling due within one year					(89,395)			(108,773)
Net current liabilities					(81,125)			(99,306)
Net liabilities					(19,470)			(36,820)
Capital and reserves
Called up share capital		3			4			4
Profit and loss account					(19,474)			(36,824)
Shareholders' deficit					(19,470)			(36,820)

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 director acknowledges his 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 director on 24 June 2017

.........................................
Mr C L Day
Director

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

Box Inn Limited
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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill, being the amount paid in connection with the acquisition of a businss, is being amortised evenly over its estimated useful life of 20 years.

Asset class	Amortisation method and rate
Goodwill	5% on cost

Depreciation

Depreciation is provided at the following annual rates in order to write off each assest over its estimated useful life.

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	15% reducing balance
Tenant's improvements	5% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Page 3

Box Inn Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		75,000			68,998			143,998
Additions		-			5,717			5,717
At 30 September 2016		75,000			74,715			149,715
Depreciation
At 1 October 2015		41,250			40,262			81,512
Charge for the year		3,750			2,798			6,548
At 30 September 2016		45,000			43,060			88,060
Net book value
At 30 September 2016		30,000			31,655			61,655
At 30 September 2015		33,750			28,736			62,486

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		4			4			4			4

Page 4