Budget Windscreens (Bedford) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03204284 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

BUDGET WINDSCREENS (BEDFORD) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S F Church

L F Church

REGISTERED OFFICE:

Unit 6

Ford View Industrial Park

New Road

Rainham

Essex

RM13 8ET

REGISTERED NUMBER:

03204284 (England and Wales)

ACCOUNTANTS:

Lipson & Co

3rd Floor

210 South Street

Romford

Essex

RM1 1TG

FIXED ASSETS

Tangible assets

3

866

1,155

CURRENT ASSETS

Debtors

4

13,145

13,128

Cash at bank and in hand

2,122

4,004

15,267

17,132

CREDITORS

Amounts falling due within one year

5

66,570

100,842

NET CURRENT LIABILITIES

(51,303

)

(83,710

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,437

)

(82,555

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(50,439

)

(82,557

)

SHAREHOLDERS' FUNDS

(50,437

)

(82,555

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 29 September 2017 and were signed on its behalf by:

S F Church - Director

1.	STATUTORY INFORMATION

Budget Windscreens (Bedford) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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.

Motor vehicles

-

25% on reducing balance

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.

3.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 January 2016

and 31 December 2016

13,062

DEPRECIATION

At 1 January 2016

11,907

Charge for year

289

At 31 December 2016

12,196

NET BOOK VALUE

At 31 December 2016

866

At 31 December 2015

1,155

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as

follows:

Motor

vehicles

£

COST

At 1 January 2016

and 31 December 2016

6,768

DEPRECIATION

At 1 January 2016

5,630

Charge for year

285

At 31 December 2016

5,915

NET BOOK VALUE

At 31 December 2016

853

At 31 December 2015

1,138

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

9,948

11,248

Directors' current accounts

3,197

1,880

13,145

13,128

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

8,545

3,862

Trade creditors

49,978

89,415

Social security and other taxes

458

672

VAT

6,939

6,460

Accrued expenses

650

433

66,570

100,842

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

S F Church

Balance outstanding at start of year

1,880

-

Amounts advanced

-

1,880

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,880

Amounts advanced to S F Church were repaid to the company on 29 July 2016.

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by S F Church, a director and shareholder in the company.