Company Registration No. 4172544 (England and Wales)
BUDD UK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
BUDD UK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BUDD UK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,275
4,744
Current assets
Debtors
43,759
20,686
Cash at bank and in hand
52,311
13,158
96,070
33,844
Creditors: amounts falling due within one year
(71,624)
(36,601)
Net current assets/(liabilities)
24,446
(2,757)
Total assets less current liabilities
29,721
1,987
Provisions for liabilities
(927)
(793)
28,794
1,194
Capital and reserves
Called up share capital
3
1,001
1,001
Profit and loss account
27,793
193
Shareholders' funds
28,794
1,194
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 and authorised for issue on 4 July 2016
Mr P Massey
Director
Company Registration No. 4172544
BUDD UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
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:
Fixtures, fittings & equipment
25% reducing balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Deferred taxation
Deferred taxation 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.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
24,331
Additions
2,289
At 31 March 2016
26,620
Depreciation
At 1 April 2015
19,587
Charge for the year
1,758
At 31 March 2016
21,345
Net book value
At 31 March 2016
5,275
At 31 March 2015
4,744
BUDD UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,000 Ordinary of £1 each
1,000
1,000
1 A Ordinary of £1 each
1
1
1,001
1,001