Abbreviated Company Accounts - BEECRAFT CLASSICS FURNITURE LTD

BEECRAFT CLASSICS FURNITURE LTD - Company Information

05551613 BEECRAFT CLASSICS FURNITURE LTD 2016-09-30 false 2015-10-01 2016-09-30 true 05551613 2015-10-01 2016-09-30 05551613 2016-09-30 05551613 2015-09-30 05551613 uk-gaap-cd-bus:Director1 2015-10-01 2016-09-30 05551613 uk-gaap-cd-bus:Director2 2015-10-01 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-01 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 iso4217:GBP shares

Registered Number 05551613

BEECRAFT CLASSICS FURNITURE LTD

Abbreviated Accounts

30 September 2016

BEECRAFT CLASSICS FURNITURE LTD Registered Number 05551613

Abbreviated Balance Sheet as at 30 September 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	4,176	10,657
		4,176	10,657
Current assets
Stocks		1,450	12,250
Debtors		14,368	100
Cash at bank and in hand		1,492	1,492
		17,310	13,842
Creditors: amounts falling due within one year		(75,256)	(115,295)
Net current assets (liabilities)		(57,946)	(101,453)
Total assets less current liabilities		(53,770)	(90,796)
Total net assets (liabilities)		(53,770)	(90,796)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(53,870)	(90,896)
Shareholders' funds		(53,770)	(90,796)

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 5 July 2017

And signed on their behalf by:
BEN HAZAN, Director

BEECRAFT CLASSICS FURNITURE LTD Registered Number 05551613

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - Reduced to value
Fixtures & Fittings - 25% on cost
Equipment - 25% on cost

Other accounting policies
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets

	£
Cost
At 1 October 2015	20,608
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2016	20,608
Depreciation
At 1 October 2015	9,951
Charge for the year	6,481
On disposals	-
At 30 September 2016	16,432
Net book values
At 30 September 2016	4,176
At 30 September 2015	10,657

All fixed assets are initially recorded at cost.

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100