Abbreviated Company Accounts - BAINBRIDGE BROTHERS LIMITED

Abbreviated Company Accounts - BAINBRIDGE BROTHERS LIMITED


Registered Number 04687594

BAINBRIDGE BROTHERS LIMITED

Abbreviated Accounts

31 March 2014

BAINBRIDGE BROTHERS LIMITED Registered Number 04687594

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 502,612 327,246
502,612 327,246
Current assets
Debtors 350,974 292,226
Cash at bank and in hand 22,219 45,013
373,193 337,239
Creditors: amounts falling due within one year (428,468) (366,954)
Net current assets (liabilities) (55,275) (29,715)
Total assets less current liabilities 447,337 297,531
Creditors: amounts falling due after more than one year (72,675) (24,969)
Provisions for liabilities (71,560) (35,315)
Total net assets (liabilities) 303,102 237,247
Capital and reserves
Called up share capital 3 1,000 1,000
Profit and loss account 302,102 236,247
Shareholders' funds 303,102 237,247
  • For the year ending 31 March 2014 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 12 December 2014

And signed on their behalf by:
Mr Matthew Bainbridge, Director

BAINBRIDGE BROTHERS LIMITED Registered Number 04687594

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year,
exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the
value of work done in the year, including estimates of amounts not invoiced. Turnover in
respect of long-term contracts and contracts for on-going services is recognised by reference to
the stage of completion.

Tangible assets depreciation policy
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
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:
Plant & Machinery - between 5-25% reducing balance
Motor Vehicles - 25% Reducing balance
Office Equipment - 25% Reducing balance

Other accounting policies
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and
rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in
the balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included
within creditors. Rentals payable are apportioned between the finance element, which is charged
to the profit and loss account on a straight line basis, and the capital element which reduces the
outstanding obligation for future instalments.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with the
following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value
adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over
into replacement assets, only to the extent that, at the balance sheet date, there is a binding
agreement to dispose of the assets concerned. However, no provision is made where, on the
basis of all available evidence at the balance sheet date, it is more likely than not that the
taxable gain will be rolled over into replacement assets and charged to tax only where the
replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the
contractual arrangement, as either financial assets, financial liabilities or equity instruments. An
equity instrument is any contract that evidences a residual interest in the assets of the company
after deducting all of its liabilities.

2Tangible fixed assets
£
Cost
At 1 April 2013 698,947
Additions 296,789
Disposals (42,000)
Revaluations -
Transfers -
At 31 March 2014 953,736
Depreciation
At 1 April 2013 371,701
Charge for the year 82,524
On disposals (3,101)
At 31 March 2014 451,124
Net book values
At 31 March 2014 502,612
At 31 March 2013 327,246
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
1,000 Ordinary shares of £1 each 1,000 1,000