Broad Street DIY Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04553249 (England and Wales)

BROAD STREET DIY LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

Mr A Warren

Mr P A Warren

Mr B T Warren

Mrs H J Warren

SECRETARY:

Mrs H J Warren

REGISTERED OFFICE:

128 Worcester Road

Bromsgrove

Worcestershire

B61 7AG

REGISTERED NUMBER:

04553249 (England and Wales)

ACCOUNTANTS:

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

BANKERS:

National Westminster Bank Plc

124 High Street

Bromsgrove

Worcestershire

B61 8HJ

FIXED ASSETS

Intangible assets

2

50,600

55,200

Tangible assets

3

125,524

91,266

176,124

146,466

CURRENT ASSETS

Stocks

241,497

198,894

Debtors

73,008

53,811

314,505

252,705

CREDITORS

Amounts falling due within one year

4

397,463

351,735

NET CURRENT LIABILITIES

(82,958

)

(99,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

93,166

47,436

CREDITORS

Amounts falling due after more than one year

4

34,581

-

NET ASSETS

58,585

47,436

CAPITAL AND RESERVES

Called up share capital

5

106

106

Profit and loss account

58,479

47,330

SHAREHOLDERS' FUNDS

58,585

47,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24th March 2015 and were signed on its behalf by:

Mr P A Warren - Director

Mr A Warren - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold and improvements to property

-

Nil

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

No depreciation is provided on leasehold and improvements to property. The company follows a programme of

regular refurbishment and maintenance of its property which includes the reinstatement of the fabric of the

buildings where necessary in order to maintain them to a high standard. Accordingly in the opinion of the

directors any element of depreciation would be immaterial and no provision has been made, as the residual value

is considered to be in excess of cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2014

and 31st December 2014

92,000

AMORTISATION

At 1st January 2014

36,800

Amortisation for year

4,600

At 31st December 2014

41,400

NET BOOK VALUE

At 31st December 2014

50,600

At 31st December 2013

55,200

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2014

201,273

Additions

56,689

At 31st December 2014

257,962

DEPRECIATION

At 1st January 2014

110,007

Charge for year

22,431

At 31st December 2014

132,438

NET BOOK VALUE

At 31st December 2014

125,524

At 31st December 2013

91,266

4.

CREDITORS

Creditors include an amount of £ 62,077 (2013 - £ 5,758 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Broad Street DIY Limited for the year ended 31st December 2014 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes 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 (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Broad Street DIY Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Broad Street DIY Limited and state those matters that we have agreed to state to the Board of Directors of Broad Street

DIY 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 the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Broad Street DIY 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 Broad Street

DIY Limited. You consider that Broad Street DIY 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 Broad Street DIY 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.

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

24th March 2015