Berlinetta Management Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01202053 (England and Wales)

BERLINETTA MANAGEMENT SERVICES LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Dr R J Cruickshank

Mrs J P Cruickshank

REGISTERED OFFICE:

1st Floor Lincoln Lodge

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SA

REGISTERED NUMBER:

01202053 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

4

1

1

Investments

5

100

-

101

1

CURRENT ASSETS

Stocks

220,872

182,401

Debtors

6

951

1,179

Cash at bank

60

381

221,883

183,961

CREDITORS

Amounts falling due within one year

7

29,099

10,068

NET CURRENT ASSETS

192,784

173,893

TOTAL ASSETS LESS CURRENT LIABILITIES

192,885

173,894

CREDITORS

Amounts falling due after more than one year

8

192,481

176,481

NET ASSETS/(LIABILITIES)

404

(2,587

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

304

(2,687

)

SHAREHOLDERS' FUNDS

404

(2,587

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

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 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 21 December 2017 and were signed on its behalf by:

Dr R J Cruickshank - Director

1.	STATUTORY INFORMATION

Berlinetta Management Services 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

The 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. There were no material departures from that standard.

These Financial Statements for the year ended 31 March 2017 are the first Financial Statements that comply with

FRS102 Section 1A Small Entities. The date of transition is 1 April 2015. The transition to FRS102 Section 1A

Small Entities has resulted in no changes in accountancy policies to those used previously.

The presentation currency is £ Sterling.

Turnover

Turnover is recognised in line with the work performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

1,197

DEPRECIATION

At 1 April 2016

and 31 March 2017

1,196

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

1

5.	FIXED ASSET INVESTMENTS

The company holds 100 shares (100% of the share capital) in Borboletta Computers Limited.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Tax

951

951

VAT

-

228

951

1,179

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

10,434

6,954

VAT

1,182

-

Directors' current accounts

3,114

2,514

Accruals and deferred income

13,750

-

Accrued expenses

619

600

29,099

10,068

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Other loans - 2-5 years

192,481

176,481

9.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of it's directors.

The following reproduces the text of the report prepared for the directors 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Berlinetta Management Services Limited for the year ended 31 March 2017 which comprise the

Income Statement, Balance Sheet, and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Berlinetta Management Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Berlinetta Management Services Limited. You consider that Berlinetta Management Services 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 financial statements of Berlinetta Management Services 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 financial statements.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

Date: .............................................