Brewster & Co (NE) Ltd,Ltd - AccountsLtd - Accounts

Brewster & Co (NE) Ltd,Ltd - AccountsLtd - Accounts

BREWSTER & CO (NE) LTD - Company Information

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2016-04-01 05881396 2017-03-31 05881396 2016-04-01 2017-03-31 05881396 2016-03-31 05881396 2015-04-01 2016-03-31 05881396 uk-core:WithinOneYear 2016-03-31 05881396 uk-core:WithinOneYear 2017-03-31 05881396 uk-core:ShareCapital 2017-03-31 05881396 uk-core:ShareCapital 2016-03-31 05881396 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 05881396 uk-core:RetainedEarningsAccumulatedLosses 2016-03-31 05881396 uk-bus:Director1 2016-04-01 2017-03-31 05881396 uk-core:NetGoodwill 2016-04-01 2017-03-31 05881396 uk-core:FurnitureFittings 2016-04-01 2017-03-31 05881396 uk-core:Goodwill 2016-03-31 05881396 uk-core:Goodwill 2017-03-31 iso4217:GBP 05881396 uk-bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 05881396 uk-bus:FRS102 2016-04-01 2017-03-31 05881396 uk-bus:FullAccounts 2016-04-01 2017-03-31 05881396 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31
Brewster & Co (NE) Ltd
Registered Number:05881396
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2017
Brewster & Co (NE) Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 March 2017
Brewster & Co (NE) Ltd
Statement of Financial Position
Registered Number :
05881396
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
3,980
1,746
3
3,980
1,746
Current assets
Trade and other receivables
68,691
72,640
4
34,416
Cash and cash equivalents
45,816
118,456
103,107
Trade and other payables: amounts falling due within one
year
(42,052)
(41,718)
5
61,055
76,738
Net current assets
Total assets less current liabilities
80,718
62,801
80,718
Net assets
62,801
Capital and reserves
Called up share capital
100
100
Retained earnings
80,618
62,701
80,718
62,801
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
Mr Charles Thomas Brewster Director
These financial statements were approved and authorised for issue by the Board on 19 December 2017 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 March 2017
Brewster & Co (NE) Ltd
Notes to the Financial Statements
Statutory Information
Brewster & Co (NE) Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05881396.
Registered address:
5a Station Terrace
East Boldon
Tyne & Wear
NE36 0LJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 4 years.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historic cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Straight line
Fixtures and fittings
Inventories
Stocks 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 costs 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 statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
5
For the year ended 31 March 2017
Brewster & Co (NE) Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2016
30,000
At 31 March 2017
30,000
Amortisation
At 01 April 2016
30,000
At 31 March 2017
30,000
Net book value
At 31 March 2017
-
At 31 March 2016
-
3. Property, plant and equipment
Fixtures and
fittings
£
Cost or
valuation
At 01 April 2016
6,490
4,141
Additions
At 31 March 2017
10,631
Provision for depreciation and impairment
At 01 April 2016
4,744
Charge for year
1,907
At 31 March 2017
6,651
At 31 March 2017
Net book value
3,980
At 31 March 2016
1,746
4. Trade and other receivables
2016
2017
£
£
Trade debtors
72,640
68,691
3 of 4
6
For the year ended 31 March 2017
Brewster & Co (NE) Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
-
166
Taxation and social security
39,879
37,069
Other creditors
1,839
4,817
41,718
42,052
4 of 4