Company Registration No. 05760413 (England and Wales)
BOWDEN LOCKSMITHS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
BOWDEN LOCKSMITHS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BOWDEN LOCKSMITHS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
7,328
8,129
Current assets
Stocks
28,000
28,000
Debtors
37,131
31,968
Cash at bank and in hand
14
14
65,145
59,982
Creditors: amounts falling due within one year
(54,249)
(59,909)
Net current assets
10,896
73
Total assets less current liabilities
18,224
8,202
Provisions for liabilities
(666)
-
17,558
8,202
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
17,458
8,102
Shareholders' funds
17,558
8,202
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.
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 and authorised for issue on 7 September 2016
Mr CR Bowden
Mr C Mancini
Director
Director
Company Registration No. 05760413
BOWDEN LOCKSMITHS 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:
Leasehold property
Fixtures & fittings
15% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
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 & at 31 March 2016
21,423
Depreciation
At 1 April 2015
13,294
Charge for the year
801
At 31 March 2016
14,095
Net book value
At 31 March 2016
7,328
At 31 March 2015
8,129
BOWDEN LOCKSMITHS 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
100 Ordinary of £1 each
100
100