Bricesco Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06035964 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 APRIL 2015 TO 30 SEPTEMBER 2016

FOR

BRICESCO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs K R E Kitson

S E Kitson

D J Green

R J Bridgewater

SECRETARY:

Mrs K R E Kitson

REGISTERED OFFICE:

Unit 4/5 Robottom Close

Off Leamore Lane

Bloxwich

Walsall

West Midlands

WS2 7EB

REGISTERED NUMBER:

06035964 (England and Wales)

ACCOUNTANTS:

Blackthorns

Chartered Accountants

Blackthorns House

80-82 Dudley Road

Lye

Stourbridge

West Midlands

DY9 8ET

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

31,582

523,828

31,582

523,828

CURRENT ASSETS

Stocks

31,765

5,000

Debtors

716,688

747,728

Cash at bank and in hand

4,427

106,864

752,880

859,592

CREDITORS

Amounts falling due within one year

981,941

1,532,838

NET CURRENT LIABILITIES

(229,061

)

(673,246

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(197,479

)

(149,418

)

CREDITORS

Amounts falling due after more than one
year

(45,348

)

(223,343

)

PROVISIONS FOR LIABILITIES

(3,500

)

(8,800

)

NET LIABILITIES

(246,327

)

(381,561

)

CAPITAL AND RESERVES

Called up share capital

4

42,228

Capital redemption reserve

16,695

Profit and loss account

(305,250

)

(440,484

)

(246,327

)

(381,561

)

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

The members have not required the company to obtain an audit of its financial statements for the period 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 5 December 2016 and were signed on its behalf
by:

Mrs K R E Kitson - 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).

Going concern

the accounts have been drawn up on the going concern basis. The company's ongoing activities are dependent

upon the continued financial support of its directors and an associated company, both of which have undertaken

that this support will be given for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets

to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as

current assets and long term liabilities as current liabilities.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks 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.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and

depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are

included in creditors net of the finance charge allocated to future periods. The finance element of the rental

payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net

obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of

the work done after provision for contingencies and anticipated future losses on contracts, less amounts received

as progress payments on account.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 30 September 2016

37,800

AMORTISATION

At 1 April 2015

and 30 September 2016

37,800

NET BOOK VALUE

At 30 September 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

760,991

Additions

3,429

Disposals

(575,325

)

At 30 September 2016

189,095

DEPRECIATION

At 1 April 2015

237,163

Charge for period

17,975

Eliminated on disposal

(97,625

)

At 30 September 2016

157,513

NET BOOK VALUE

At 30 September 2016

31,582

At 31 March 2015

523,828

4.	CALLED UP SHARE CAPITAL

Allotted, issued
and fully paid:

Number:

Class:

Nominal

30.9.16

31.3.15

Value:

£

16,695

Ordinary
B

£1

16,695

Ordinary
C

£1

16,695

5,892

Ordinary
D

£1

5,892

2,946

Ordinary
E

£1

2,946

42,228

5.

CREDITORS

Analysis of loans

Wholly repayable within five years

4,467

241,638

Included in current liabilities

(4,467

)

(20,544

)

-

221,094

Loan maturity analysis

Net obligations under hire purchase contracts

Included in liabilities falling due within one year

(8,407

)

(5,965

)

(8,407

)

(5,965

)

Bank loan instalments totalling £Nil (2015 - £138,918) are repayable after more than five years.

The aggregate amount of creditors for which security has been given amounted to £178,397 (2015 - £339,852).