Ouse Bridge House Ltd - Period Ending 2016-08-31

Registration number: 07286358

Ouse Bridge House Ltd

Unaudited Abbreviated Accounts

31 August 2016
 

Ouse Bridge House Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 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 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Financial Statements of
Ouse Bridge House Ltd
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ouse Bridge House Ltd for the year ended 31 August 2016 set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Ouse Bridge House Ltd, as a body, in accordance with the terms of our engagement letter dated 18 March 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Ouse Bridge House Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ouse Bridge House Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ouse Bridge House 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 Ouse Bridge House Ltd. You consider that Ouse Bridge House 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 Ouse Bridge House 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.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

29 June 2017

Page 1

Ouse Bridge House Ltd
(Registration number: 07286358)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets		2			60,000			64,000
Tangible fixed assets		2			633,278			634,161
					693,278			698,161
Current assets
Stocks					1,703			1,701
Debtors					7,682			9,442
Cash at bank and in hand					8,783			16,039
					18,168			27,182
Creditors: Amounts falling due within one year		3			(371,182)			(377,792)
Net current liabilities					(353,014)			(350,610)
Total assets less current liabilities					340,264			347,551
Creditors: Amounts falling due after more than one year		3			(421,210)			(436,107)
Net liabilities					(80,946)			(88,556)
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					(80,948)			(88,558)
Shareholders' deficit					(80,946)			(88,556)

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Ouse Bridge House Ltd
(Registration number: 07286358)
Abbreviated Balance Sheet at 31 August 2016
......... continued

For the year ending 31 August 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 29 June 2017 and signed on its behalf by:

.........................................
C Shepherd
Director

.........................................
S R W Shepherd
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Ouse Bridge House Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 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).

The company has net liabilities at 31 August 2016 and meets its day to day working capital requirements through the directors providing financial support by way of short term loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.However, should the company not have the support of its directors, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.
 

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

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	20 years straight line

Depreciation

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

Asset class	Depreciation method and rate
Freehold property	No depreciation provided
Fixtures and fittings	15% reducing balance
Office equipment	15% 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.

Page 4

Ouse Bridge House Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2015		80,000			654,760			734,760
Additions		-			1,860			1,860
At 31 August 2016		80,000			656,620			736,620
Depreciation
At 1 September 2015		16,000			20,599			36,599
Charge for the year		4,000			2,743			6,743
At 31 August 2016		20,000			23,342			43,342
Net book value
At 31 August 2016		60,000			633,278			693,278
At 31 August 2015		64,000			634,161			698,161

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		18,709			18,709
Amounts falling due after more than one year		421,210			436,107
Total secured creditors		439,919			454,816

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

5

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 5