Billingham Press Ltd - Accounts to registrar - small 17.2
Billingham Press Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| Billingham Press Limited |
| Billingham Press Limited (Registered number: 00375599) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 9 |
| Billingham Press Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Cleveland House |
| 10 Yarm Road |
| Stockton on Tees |
| Cleveland |
| TS18 3NA |
| Billingham Press Limited (Registered number: 00375599) |
| Balance Sheet |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Billingham Press Limited (Registered number: 00375599) |
| Balance Sheet - continued |
| 31 December 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Billingham Press Limited (Registered number: 00375599) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Billingham Press Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under historical cost convention. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions. |
| Significant judgements and estimates |
| There have been no significant judgements and estimates within the financial statements. All provisions made |
| including stock and depreciation of assets have been reviewed for accuracy and are in line with accounting |
| policies noted within the financial statements. |
| Changes in accounting policies |
| The principal accounting policies adopted in the preparation of the financial statements have remained |
| unchanged from the previous year and have been consistently applied with in the same accounts. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Impairment reviews have been conducted to ensure no provisions are required. |
| Stocks and work in progress |
| Stock has been valued at the lower of cost and estimated selling price less cost to sell. |
| In respect of work in progress and finished goods, costs includes a relevant proportion of overheads according to |
| the stage of manufacture/completion. |
| Financial instruments |
| Financial assets and liabilities have both been measured at amortised costs and accounted for accordingly. |
| Billingham Press Limited (Registered number: 00375599) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
| that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
| of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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 profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Billingham Press Limited (Registered number: 00375599) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 January 2016 |
| Transfer to ownership | (329,990 | ) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Transfer to ownership | (146,814 | ) |
| At 31 December 2016 | ( |
) |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan accounts | 608 | - |
| VAT |
| Prepayments and accrued income |
| Billingham Press Limited (Registered number: 00375599) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 2,014 | - |
| Other creditors |
| Directors' loan accounts | 20,810 | 41 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| 9. | CAPITAL COMMITMENTS |
| 2016 | 2015 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 December 2016 and |
| 31 December 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 11. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £20,000 were paid to the directors . |
| Billingham Press Limited (Registered number: 00375599) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 12. | POST BALANCE SHEET EVENTS |
| Post balance sheet events have been considered and there are no adjusting and non-adjusting balance sheet |
| events to be disclosed. |
| 13. | FIRST YEAR ADOPTION |
| In the transition to FRS 102 1A UK GAAP, the Company has made no measurement and recognition adjustments. |
| The adoption of FRS 102 1A has not affected the financial position and/or financial performance of the Company. |
| In preparing its FRS 102 1A balance sheet, the Company has not adjusted amounts previously reported in the |
| financial statements in accordance with its old basis of accounting UK GAAP. |
| Transitional relief |
| On transition to FRS 102, the company has taken advantage of the following transitional relief: |
| • | to measure fair value at date of transition to FRS 102 and use as deemed cost on an item of property, plant and equipment. |
| Billingham Press Limited |
| Report of the Accountants to the Directors of |
| Billingham Press Limited |
| The following reproduces the text of the report prepared for the directors and members in respect of the |
| company's annual unaudited financial statements. In accordance with the Companies Act 2006, the |
| company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and |
| certain other primary statements and the Report of the Directors are not required to be filed with the |
| Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2016 set out on pages nil to nil and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| Cleveland House |
| 10 Yarm Road |
| Stockton on Tees |
| Cleveland |
| TS18 3NA |