Registered Number 00701935
BUD & SON LIMITED
Abbreviated Accounts
31 January 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Other accounting policies
This represents capital introduced by the company into the syndicate plus accrued surpluses less deficiencies but without revaluing the syndicate properties. The syndicate in which the company is a participator has borrowings which are secured on the syndicate's property. The Company accounts for its syndicate investment under the "equity accounting" basis and thus the company's share of such borrowings is not included in these financial statements.
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.
£ | |
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Cost | |
At 1 February 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2014 |
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Depreciation | |
At 1 February 2013 |
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Charge for the year |
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On disposals |
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At 31 January 2014 |
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Net book values | |
At 31 January 2014 | 738,410 |
At 31 January 2013 | 738,410 |
All fixed assets are initially recorded at cost.
3Fixed assets Investments
105,827
Additions – 15,736
Disposals – (4,845)
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116,718
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