Bainbridge Brothers Ltd Small abridged accounts
Bainbridge Brothers Ltd Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
04687594
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Abridged Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Officers and professional advisers |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
The following pages do not form part of the abridged financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
9 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Accountants |
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Chartered Accountants |
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81 Borough Road |
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Middlesbrough |
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TS1 3AA |
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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– |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
6 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Abridged Statement of Financial Position (continued) |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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These abridged financial statements were approved by the
board of directors
and authorised for issue on
21 December 2017
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
04687594
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Notes to the Abridged Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 83 Greta Road, Norton, Stockton on Tees, TS20 1BA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery |
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various rates |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2016:
13
).
5.
Tangible assets
£ |
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Cost |
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At 1 April 2016 |
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Additions |
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Disposals |
(
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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Disposals |
(
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
897,858 |
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At 31 March 2016 |
869,290 |
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6.
Creditors:
amounts falling due after more than one year
The net obligations under finance leases and hire purchase contracts totalling £26,206 (2016:£119,112) are secured on the assets concerned.
7.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.
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Management Information |
Year ended 31 March 2017
The following pages do not form part of the abridged financial statements.
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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 31 March 2017
81 Borough Road
Middlesbrough
TS1 3AA