BRIAN_GOW_ROOFING_WAREHOU - Accounts

BRIAN GOW ROOFING WAREHOUSE LIMITED - Company Information

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Company Registration No. 05182745 (England and Wales)

BRIAN GOW ROOFING WAREHOUSE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

BRIAN GOW ROOFING WAREHOUSE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BRIAN GOW ROOFING WAREHOUSE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

58,487

40,423

Current assets

Stocks

198,186

192,934

Debtors

370,097

294,534

Cash at bank and in hand

232,027

113,643

800,310

601,111

Creditors: amounts falling due within one year

(408,455)

(317,789)

Net current assets

391,855

283,322

Total assets less current liabilities

450,342

323,745

Creditors: amounts falling due after more than one year

(3,116)

Provisions for liabilities

(11,697)

(7,060)

438,645

313,569

Capital and reserves

Called up share capital

Profit and loss account

438,642

313,566

Shareholders' funds

438,645

313,569

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 December 2014

Mr V B Elgar

Director

Company Registration No. 05182745

BRIAN GOW ROOFING WAREHOUSE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life which is considered to be five years.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% on the reducing balance

Motor vehicles

25% on the reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of some of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

BRIAN GOW ROOFING WAREHOUSE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

100,000

115,361

215,361

Additions

40,231

Disposals

(14,953)

At 31 March 2014

100,000

140,639

240,639

Depreciation

At 1 April 2013

100,000

74,938

174,938

On disposals

(12,293)

Charge for the year

19,507

At 31 March 2014

100,000

82,152

182,152

Net book value

At 31 March 2014

58,487

At 31 March 2013

40,423

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £3,116 (2013 - £9,006).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £3,116).

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary 'A' shares of £1 each

1 Ordinary 'B' shares of £1 each

The 'B' shares do not have voting rights but rank pari passu with the ordinary 'A' shares in all other respects.