Ashwell Biomass Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02677510 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Ashwell Biomass Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R B West

Ms Y M A Chu

D G Coyne

SECRETARY:

R B West

REGISTERED OFFICE:

Unit 12, 35 Pinfold Road

Thurmaston

Leicester

Leicestershire

LE4 8AT

REGISTERED NUMBER:

02677510 (England and Wales)

ACCOUNTANTS:

Clayton & Brewill

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

FIXED ASSETS

Property, plant and equipment

4

52,712

65,583

CURRENT ASSETS

Inventories

198,905

374,034

Debtors

627,055

489,794

Cash at bank and in hand

317,423

297,493

1,143,383

1,161,321

CREDITORS

Amounts falling due within one year

677,391

829,468

NET CURRENT ASSETS

465,992

331,853

TOTAL ASSETS LESS CURRENT LIABILITIES

518,704

397,436

CREDITORS

Amounts falling due after more than one year

34,815

49,566

NET ASSETS

483,889

347,870

CAPITAL AND RESERVES

Called up share capital

19,320

19,320

Share premium

84,034

84,034

Capital redemption reserve

35

35

Retained earnings

380,500

244,481

SHAREHOLDERS' FUNDS

483,889

347,870

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2017 and were signed on its behalf by:

Ms Y M A Chu - Director

1.	STATUTORY INFORMATION

Ashwell Biomass 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

Revenue 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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2016 - 26 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 April 2016

297,206

Additions

18,694

Disposals

(10,655

)

At 31 March 2017

305,245

DEPRECIATION

At 1 April 2016

231,623

Charge for year

31,575

Eliminated on disposal

(10,665

)

At 31 March 2017

252,533

NET BOOK VALUE

At 31 March 2017

52,712

At 31 March 2016

65,583

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2016

20,490

Transfer to ownership

(10,995

)

At 31 March 2017

9,495

DEPRECIATION

At 1 April 2016

12,344

Charge for year

4,099

Transfer to ownership

(9,163

)

At 31 March 2017

7,280

NET BOOK VALUE

At 31 March 2017

2,215

At 31 March 2016

8,146

5.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

44,840

55,000

Hire purchase contracts

611

7,769

45,451

62,769