A & R BREWSTER LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
Company Registration No. SC368427 (Scotland)
A & R BREWSTER LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
A & R BREWSTER LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,039,817
351,515
Current assets
Debtors
175,434
811,274
Investments
20,000
-
Cash at bank and in hand
114,955
-
310,389
811,274
Creditors: amounts falling due within one year
3
(74,291)
(504,416)
Net current assets
236,098
306,858
Total assets less current liabilities
1,275,915
658,373
Creditors: amounts falling due after more than one year
4
(549,991)
-
Provisions for liabilities
(100,500)
-
625,424
658,373
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
625,324
658,273
Shareholders' funds
625,424
658,373
A & R BREWSTER LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial year ended 31 March 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 2 December 2015
R J Brewster
Director
Company Registration No. SC368427
A & R BREWSTER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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
10% straight line per annum
1.4
Investments
Current asset investments are stated at the lower of cost and net realisable value.
1.5
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences are differences between the taxable profits and the results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.
Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the revalued assets and the asset has been revalued to selling price. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold.
Deferred tax is measured on a non-discounted basis.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
A & R BREWSTER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
353,924
Additions
801,556
At 31 March 2015
1,155,480
Depreciation
At 1 April 2014
2,409
Charge for the period
113,254
At 31 March 2015
115,663
Net book value
At 31 March 2015
1,039,817
At 31 March 2014
351,515
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £50,009 (2014 - £0).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £549,991 (2014 - £0).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100