Bluebell Northwest Limited - Period Ending 2016-09-30

Registration number: 06965686

Bluebell Northwest Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

MacMahon Leggate Chartered Accountants Charter House 18-20 Finsley Gate Burnley BB11 2HA

Bluebell Northwest Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 Statutory Accounts of
Bluebell Northwest 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 Bluebell Northwest Limited for the year ended 30 September 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Bluebell Northwest Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bluebell Northwest Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bluebell Northwest Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bluebell Northwest 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 Bluebell Northwest Limited. You consider that Bluebell Northwest 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 Bluebell Northwest 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.

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

MacMahon Leggate
Chartered Accountants
Charter House
18-20 Finsley Gate
Burnley
Lancashire
BB11 2HA

29 June 2017

Page 1

Bluebell Northwest Limited
(Registration number: 06965686)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					10,779			5,060
Current assets
Stocks					185,944			35,737
Debtors					339,781			244,183
Cash at bank and in hand					-			89,794
					525,725			369,714
Creditors: Amounts falling due within one year					(310,167)			(90,472)
Net current assets					215,558			279,242
Total assets less current liabilities					226,337			284,302
Creditors: Amounts falling due after more than one year					(4,038)			-
Net assets					222,299			284,302
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					222,199			284,202
Shareholders' funds					222,299			284,302

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 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 .

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

.........................................
Mr S Whitehead
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Bluebell Northwest 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.

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
Plant and machinery	25% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	25% reducing balance basis

Stock and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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

Bluebell Northwest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		13,643			13,643
Additions		9,313			9,313
At 30 September 2016		22,956			22,956
Depreciation
At 1 October 2015		8,583			8,583
Charge for the year		3,594			3,594
At 30 September 2016		12,177			12,177
Net book value
At 30 September 2016		10,779			10,779
At 30 September 2015		5,060			5,060

3

Creditors

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

2016 £

2015 £

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4

Bluebell Northwest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr P Whitehead
The overdrawn loan account is unsecured and interest free	12,959	35,000	47,959	-
Mrs G Whitehead
The overdrawn loan account is unsecured and interest free	12,959	35,000	47,959	-
Mr S Whitehead
The overdrawn loan account is unsecured and interest free	-	2,887	2,887	-

Page 5