Beechenhill Artworks Limited - Period Ending 2015-12-31

Registration number: 03583912

Beechenhill Artworks Limited

Unaudited Abbreviated Accounts

for the Period from 1 July 2014 to 31 December 2015

 

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Beechenhill Artworks Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Beechenhill Artworks Limited
for the Period Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Beechenhill Artworks Limited for the period ended 31 December 2015 set out on pages 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 Beechenhill Artworks Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Beechenhill Artworks Limited and state those matters that we have agreed to state to them, 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 Beechenhill Artworks Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Beechenhill Artworks Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Beechenhill Artworks Limited. You consider that Beechenhill Artworks Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Beechenhill Artworks 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 accounts.

......................................

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

23 March 2016

Page 1

Beechenhill Artworks Limited
(Registration number: 03583912)
Abbreviated Balance Sheet at 31 December 2015

		Note			31 December 2015 £			30 June 2014 £
Fixed assets
Tangible fixed assets		2			458			165
Current assets
Stocks					4,862			1,968
Debtors					364			749
Cash at bank and in hand					6,746			5,147
					11,972			7,864
Creditors: Amounts falling due within one year					(5,625)			(2,891)
Net current assets					6,347			4,973
Total assets less current liabilities					6,805			5,138
Provisions for liabilities					(92)			(33)
Net assets					6,713			5,105
Capital and reserves
Called up share capital		3			4			4
Profit and loss account					6,709			5,101
Shareholders' funds					6,713			5,105

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Beechenhill Artworks Limited
(Registration number: 03583912)
Abbreviated Balance Sheet at 31 December 2015
......... continued

For the year ending 31 December 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 director acknowledges her 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved and authorised for issue by the director on 23 March 2016

.........................................
Mrs S Prince
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Beechenhill Artworks Limited
Notes to the Abbreviated Accounts for the Period from 1 July 2014 to 31 December 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 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
Equipment	25% reducing balance
Computer equipment	33.33% straight line basis

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Page 4

Beechenhill Artworks Limited
Notes to the Abbreviated Accounts for the Period from 1 July 2014 to 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		5,756			5,756
Additions		735			735
At 31 December 2015		6,491			6,491
Depreciation
At 1 July 2014		5,591			5,591
Charge for the period		442			442
At 31 December 2015		6,033			6,033
Net book value
At 31 December 2015		458			458
At 30 June 2014		165			165

3	Share capital

Allotted, called up and fully paid shares

	31 December 2015						30 June 2014
		No.			£			No.			£
Ordinary Shares of £1 each		4			4			4			4

New shares allotted

During the period - having an aggregate nominal value of £nil were allotted for an aggregate consideration of £nil.

Page 5