Birch Homes (UK) Limited - Period Ending 2017-06-30

Birch Homes (UK) Limited - Period Ending 2017-06-30


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Registration number: 09074166

Birch Homes (UK) Limited

Unaudited Abridged Financial Statements

for the Year Ended 30 June 2017

 

Birch Homes (UK) Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Abridged Financial Statements

3 to 5

 

Birch Homes (UK) Limited

(Registration number: 09074166)
Abridged Balance Sheet as at 30 June 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

3

4,607

2,819

Current assets

 

Stocks

4

194,000

190,000

Debtors

52,120

138,223

Cash at bank and in hand

 

6,125

8,275

 

252,245

336,498

Prepayments and accrued income

 

-

3,400

Creditors: Amounts falling due within one year

(214,357)

(311,624)

Net current assets

 

37,888

28,274

Total assets less current liabilities

 

42,495

31,093

Accruals and deferred income

 

(460)

(460)

Net assets

 

42,035

30,633

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

41,835

30,433

Total equity

 

42,035

30,633

For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Birch Homes (UK) Limited

(Registration number: 09074166)
Abridged Balance Sheet as at 30 June 2017

Approved and authorised by the director on 28 March 2018
 

.........................................

Mr Ben Allen

Director

 

Birch Homes (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 30 June 2017

1

General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
Unit 25, Brightwell Barns
Ipswich Road
Brightwell
Ipswich
Suffolk
IP10 0BJ

These financial statements were authorised for issue by the director on 28 March 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Birch Homes (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 30 June 2017

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Plant and machinery

20% reducing balance basis

Motor vehicles

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Birch Homes (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 30 June 2017

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Tangible assets

Total
£

Cost or valuation

At 1 July 2016

3,634

Additions

3,224

At 30 June 2017

6,858

Depreciation

At 1 July 2016

815

Charge for the year

1,436

At 30 June 2017

2,251

Carrying amount

At 30 June 2017

4,607

At 30 June 2016

2,819

4

Stocks

2017
£

2016
£

Work in progress

194,000

190,000