Company Registration No. 06164594 (England and Wales)
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2015
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 6
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED FOR THE YEAR ENDED 31 AUGUST 2015
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Business Supplies Direct (Holdings) Limited for the year ended 31 August 2015 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Business Supplies Direct (Holdings) Limited, as a body, in accordance with the terms of our engagement letter dated 18 August 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Business Supplies Direct (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Business Supplies Direct (Holdings) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Business Supplies Direct (Holdings) Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Business Supplies Direct (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Business Supplies Direct (Holdings) Limited. You consider that Business Supplies Direct (Holdings) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Business Supplies Direct (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Knowles Warwick Limited
23 May 2016
Chartered Accountants
183 Fraser Road
Sheffield
S8 0JP
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
31 August 2015
2
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
702,274
702,842
Investments
2
103
103
702,377
702,945
Current assets
Debtors
72
3
Cash at bank and in hand
92,710
127,399
92,782
127,402
Creditors: amounts falling due within one year
3
(299,306)
(261,993)
Net current liabilities
(206,524)
(134,591)
Total assets less current liabilities
495,853
568,354
Creditors: amounts falling due after more than one year
4
(310,126)
(336,389)
Provisions for liabilities
(195)
(251)
185,532
231,714
Capital and reserves
Called up share capital
5
106
106
Revaluation reserve
137,773
137,773
Profit and loss account
47,653
93,835
Shareholders' funds
185,532
231,714
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2015
31 August 2015
3
For the financial year ended 31 August 2015 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 23 May 2016
Mr A G Wragg
Director
Company Registration No. 06164594
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
4
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 April 2008).
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 rent net of VAT.
rent
net of VAT.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings
None
Plant and machinery
20% reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006.
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
5
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 1 September 2014 & at 31 August 2015
714,785
103
714,888
Depreciation
At 1 September 2014
11,943
-
11,943
Charge for the year
568
-
568
At 31 August 2015
12,511
-
12,511
Net book value
At 31 August 2015
702,274
103
702,377
At 31 August 2014
702,842
103
702,945
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Business Supplies Direct Ltd
England and Wales
Ordinary
100.00
Business Interiors Direct Ltd
England and Wales
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Business Supplies Direct Ltd
Supply of office supplies
63,748
7,216
Business Interiors Direct Ltd
Supply of office furniture and design
(3,163)
-
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £25,311 (2014 - £24,323).
BUSINESS SUPPLIES DIRECT (HOLDINGS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
6
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
196,964
219,151
The aggregate amount of creditors for which security has been given amounted to £310,126 (2014 - £336,389).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
106 Ordinary shares of £1 each
106
106
6
Ultimate parent company
The company is under the ultimate control of its three directors who hold 100% of the shares between them.
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