Company Registration No. 02724294 (England and Wales)
BERWYN SLATE QUARRY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
BERWYN SLATE QUARRY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
BERWYN SLATE QUARRY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
175,468
160,284
Current assets
Stocks
32,351
33,250
Debtors
49,067
23,931
Cash at bank and in hand
153,207
93,188
234,625
150,369
Creditors: amounts falling due within one year
(126,294)
(81,298)
Net current assets
108,331
69,071
Total assets less current liabilities
283,799
229,355
Creditors: amounts falling due after more than one year
(10,728)
(24,931)
Provisions for liabilities
(24,707)
(20,519)
248,364
183,905
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
248,362
183,903
Shareholders' funds
248,364
183,905
BERWYN SLATE QUARRY LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2016
30 June 2016
- 2 -
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 29 March 2017
A.M. Bickford
Director
Company Registration No. 02724294
BERWYN SLATE QUARRY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
1
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 March 2000).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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:
Land and buildings Leasehold
2 % straight line method
Plant and machinery
20 % reducing balance method
Computer equipment
straight line method over 3 years
Fixtures, fittings & equipment
20 % straight line method
Motor vehicles
25% on the reducing balance method
1.5
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
BERWYN SLATE QUARRY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
550,205
Additions
54,348
Disposals
(16,979)
At 30 June 2016
587,574
Depreciation
At 1 July 2015
389,921
On disposals
(11,606)
Charge for the year
33,791
At 30 June 2016
412,106
Net book value
At 30 June 2016
175,468
At 30 June 2015
160,284
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
V.G.Bickford -
-
-
24,358
-
-
24,358
-
24,358
-
-
24,358