P & R Burbage Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06060593 (England and Wales)

Abbreviated Unaudited Accounts For The Year Ended 30 September 2016

for

P & R Burbage Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P R Burbage

Mr R J Burbage

SECRETARY:

Mr P R Burbage

REGISTERED OFFICE:

Oakfields Farm

Great Brington Road

East Haddon

Northampton

Northamptonshire

NN6 8DS

REGISTERED NUMBER:

06060593 (England and Wales)

ACCOUNTANTS:

Harris & Clarke LLP

7 Billing Road

Northampton

Northamptonshire

NN1 5AN

FIXED ASSETS

Tangible assets

2

1,375,295

1,326,270

CURRENT ASSETS

Stocks

7,500

5,000

Debtors

151,524

126,166

Cash at bank

52,129

40,328

211,153

171,494

CREDITORS

Amounts falling due within one year

3

841,921

816,619

NET CURRENT LIABILITIES

(630,768

)

(645,125

)

TOTAL ASSETS LESS CURRENT LIABILITIES

744,527

681,145

CREDITORS

Amounts falling due after more than one year

3

(223,277

)

(319,854

)

PROVISIONS FOR LIABILITIES

(182,514

)

(143,058

)

NET ASSETS

338,736

218,233

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

338,636

218,133

SHAREHOLDERS' FUNDS

338,736

218,233

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 June 2017 and were signed on its behalf by:

Mr P R Burbage - Director

Mr R J Burbage - 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.

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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks 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 where transactions or events have occurred at that date that will result in an obligation to pay

more, or a right to pay less or to receive more tax, with the following exceptions:

- Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed

assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the

extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned.

However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more

likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the

replacement assets are sold.

- Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not

that there will be suitable taxable profits from which the future reversal of the underlying timing differences can

be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

2,064,357

Additions

438,048

Disposals

(306,572

)

At 30 September 2016

2,195,833

DEPRECIATION

At 1 October 2015

738,087

Charge for year

243,299

Eliminated on disposal

(160,848

)

At 30 September 2016

820,538

NET BOOK VALUE

At 30 September 2016

1,375,295

At 30 September 2015

1,326,270

3.

CREDITORS

Creditors include an amount of £ 548,459 (2015 - £ 656,922 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100