Tew Brothers Ltd - Accounts

Tew Brothers Ltd - Accounts

TEW BROTHERS LIMITED - Company Information

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Registered Number : 02799751


 

 

 


Abridged Accounts

for the year ended 31 March 2018

for

TEW BROTHERS LTD

Tew Brothers Ltd
Contents Page
For the year ended 31 March 2018
Accountant’s report

You consider that the company is exempt from an audit for the year ended 31 March 2018 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Brumijan Ltd t/a all about accounting
31 March 2018



....................................................
Brumijan Ltd t/a all about accounting
West Gate Lodge
Cams Hall Estate
Fareham
PO16 8UP
29 November 2018
1
 
 		 Notes
 		 2018
£		   2017
£
Fixed assets      
Tangible fixed assets 2 306,545    330,090 
306,545    330,090 
Current assets      
Stocks 21,000    21,000 
Debtors 1,281,336    1,133,873 
Cash at bank and in hand 605    (863)
1,302,941    1,154,010 
Creditors: amount falling due within one year (1,088,155)   (955,453)
Net current assets 214,786    198,557 
 
Total assets less current liabilities 521,331    528,647 
Creditors: amount falling due after more than one year (98,099)   (82,154)
Provisions for liabilities 0    (64,168)
Net assets 423,232    382,325 
 

Capital and reserves 		     
Called up share capital 3 10,000    10,000 
Profit and loss account 413,232    372,325 
Shareholders funds 423,232    382,325 
 


For the year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of Abridged Accounts for this accounting period in accordance with section 444(2A).
Signed on behalf of the board of directors


--------------------------------
Shaun Tew
Director

Date approved by the board: 29 November 2018
2
General Information
Tew Brothers Ltd is a private company, limited by shares, registered in , registration number 02799751,registration address Unit 5 R J Mitchell Centre,Spitfire Quay,Hazel Road,Hampshire,SO19 7GB.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Deferred taxation
Deferred tax 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.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 25% Reducing Balance
Motor Vehicles 20 Reducing Balance
Plant and Machinery 10 Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Tangible fixed assets

Cost or Valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Total
  £   £   £   £
At 01 April 2017 99,223    57,352    369,936    526,511 
Additions -    -    72,654    72,654 
Disposals -    -    (60,953)   (60,953)
At 31 March 2018 99,223    57,352    381,637    538,212 
Depreciation
At 01 April 2017 24,806    14,608    157,007    196,421 
Charge for year 18,600    9,900    48,148    76,648 
On disposals -    -    (41,402)   (41,402)
At 31 March 2018 43,406    24,508    163,753    231,667 
Net book values
Closing balance as at 31 March 2018 55,817    32,844    217,884    306,545 
Opening balance as at 01 April 2017 74,417    42,744    212,929    330,090 


3.

Share Capital

Allotted
2018
£		   2017
£
10,000 Class A shares of £1.00 each 10,000    10,000 
10,000    10,000 

3