Building Systems (Distribution) Ltd - Period Ending 2015-03-31

Registration number: 07052768

Building Systems (Distribution) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Building Systems (Distribution) Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Building Systems (Distribution) Ltd
(Registration number: 07052768)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					145,419			121,009
Investments					21,900			17,400
					167,319			138,409
Current assets
Stocks					159,538			135,014
Debtors					345,852			495,415
Cash at bank and in hand					85,697			146,508
					591,087			776,937
Creditors: Amounts falling due within one year					(376,185)			(585,365)
Net current assets					214,902			191,572
Net assets					382,221			329,981
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					25,426			-
Profit and loss account					356,695			329,881
Shareholders' funds					382,221			329,981

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 17 September 2015 and signed on its behalf by:

.........................................
Mr Barry Jiggins
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Building Systems (Distribution) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	no depreciation
Plant and machinery	25% reducing balance
Fixtures, fittings and equipment	25% reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Building Systems (Distribution) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2014		133,556			17,400			150,956
Revaluations		25,426			-			25,426
Additions		3,283			4,500			7,783
At 31 March 2015		162,265			21,900			184,165
Depreciation
At 1 April 2014		12,547			-			12,547
Charge for the year		4,299			-			4,299
At 31 March 2015		16,846			-			16,846
Net book value
At 31 March 2015		145,419			21,900			167,319
At 31 March 2014		121,009			17,400			138,409

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

4

Control

The company is controlled by .

5	Going concern

The directors have reviewed the twelve months ahead and considered the company's financial position and note no material uncertainties that may cast significant doubt about the ability of it to continue as a going concern.

Page 3