Company Registration No. 04078290 (England and Wales)
BPS TOOLMAKERS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2016
BPS TOOLMAKERS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BPS TOOLMAKERS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
1,500
1,500
Debtors
76,723
121,719
Cash at bank and in hand
2,544
34
80,767
123,253
Creditors: amounts falling due within one year
2
(56,745)
(60,418)
Total assets less current liabilities
24,022
62,835
Capital and reserves
Called up share capital
3
4
4
Profit and loss account
24,018
62,831
Shareholders' funds
24,022
62,835
For the financial period ended 30 April 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 period 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 10 October 2017
Mr M N Sharman
Director
Company Registration No. 04078290
BPS TOOLMAKERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 APRIL 2016
- 2 -
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 January 2015).
The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand.
In addition, the company is reliant upon its trade with its principal customer, Impact Creative Partnership Limited, a connected company in which the company's directors and shareholders are also directors of Impact Creative Partnership Limited. The directors are not aware of any reasons why this trading relationship should change in the foreseeable future.
On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
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:
Plant and machinery
20% straight line
Motor vehicles
20% straight line
2
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £1,394).
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
4 Ordinary shares of £1 each
4
4
BPS TOOLMAKERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2016
- 3 -
4
Related party relationships and transactions
Loans from directors
Transactions in relation to loans with directors during the period are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Amounts Written Off
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr G W Smith - Director's loan
-
-
10,102
-
7,341
2,761
Mr M N Sharman - Director's loan
-
20,192
10,102
18,208
33,032
15,470
20,192
20,204
18,208
40,373
18,231