Buckley Transport Limited
|
For the year ended 31 December 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03892088
Buckley Transport Limited
For the year ended 31 December 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Buckley Transport Limited
Accountants' Report
For the year ended 31 December 2015
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
|
ended
31
December
2015
and you consider that the company is exempt from an audit under the Companies Act
|
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you
|
to fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
Metcalfes
1-3 St Mary's Place
Bury
Lancashire
BL9 0DZ
11 May 2016
1 of 4
Abbreviated Balance Sheet
|
Buckley Transport Limited
2015
2014
2
2,089,948
2,021,336
2,089,948
2,021,336
2,500
2,500
926,696
1,106,403
51,520
381,038
1,160,423
1,310,234
Creditors
:
amounts falling due within one year
|
(878,805)
(909,591)
431,429
250,832
Net current assets
Total assets less current liabilities
|
2,340,780
2,452,765
Creditors
:
amounts falling due after more than one year
|
(538,512)
(241,842)
(179,311)
(179,311)
Provisions for liabilities
|
1,919,627
Net assets
1,734,942
100
3
100
1,919,527
1,734,842
1,919,627
1,734,942
Shareholders funds
For the year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Directors 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 Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 11 May 2016
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
|
Buckley Transport Limited
For the year ended 31 December 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
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.
The company operates a defined contribution pension scheme for the benefit of its directors
/
and employees
.
|
Contributions payable are charged to the profit and loss account in the period in which they are payable
.
|
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
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
Plant and Machinery
Computer Equipment
Motor Vehicles
25% & 20% Reducing balance
|
Investment properties are included in the balance sheet at their open market value at the balance sheet date
.
The
|
resulting aggregate surplus or deficit is transferred to a revaluation reserve
.
Depreciation is provided only on those
|
investment properties which are leasehold and where the unexpired lease term is less than
20
years
.
|
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities
(
effective
|
January
2015
)
,
it is a departure from the general requirement of the Companies Act
2006
for all tangible assets to be
|
depreciated
.
In the opinion of the directors compliance with the standard is necessary for the financial statements to
|
give a true and fair view
.
Depreciation or amortisation is only one of many factors reflected in the annual valuation
|
and the amount of this which might otherwise have been charged cannot be separately identified or quantified
.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
Buckley Transport Limited
For the year ended 31 December 2015
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 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.
|
3,776,519
506,076
(21,125)
4,261,470
1,755,183
(20,596)
436,935
Charge for year
2,171,522
2,089,948
2,021,336
Allotted called up and fully paid
|
2015
2014
100
Ordinary shares of £
1
.
00
each
|
100
100
100
100
4 of 4