BIRWAY LIMITED,Ltd - Accounts

BIRWAY LIMITED,Ltd - Accounts

BIRWAY LIMITED - Company Information

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2015-04-01 true false Private Limited Company 04301107 2016-03-31 04301107 2015-04-01 2016-03-31 04301107 2015-03-31 04301107 2014-04-01 2015-03-31 04301107 uk-bus:Director1 2015-04-01 2016-03-31 04301107 uk-gaap:PlantMachinery 2015-04-01 2016-03-31 04301107 uk-gaap:OfficeEquipment 2015-04-01 2016-03-31 04301107 uk-gaap:MotorVehicles 2015-04-01 2016-03-31 04301107 uk-gaap:AfterOneYear 2015-03-31 iso4217:GBP
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BIRWAY LIMITED
For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04301107
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Contents Page
BIRWAY LIMITED
For the year ended 31 March 2016
1
Accountants' Report
2
Balance Sheet
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Notes to the Abbreviated Financial Statements
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BIRWAY LIMITED
Accountants' Report
For the year ended 31 March 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
ended 31 March 2016 and you consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you
to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
JONES & COMPANY (WEST MIDLANDS) LIMITED
2A HIGH STREET
AMBLECOTE
STOURBRIDGE
WEST MIDLANDS
DY8 4BX
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Abbreviated Balance Sheet
BIRWAY LIMITED
As at 31 March 2016
04301107
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Tangible assets
2
705,977
629,890
705,977
629,890
Current assets
Debtors
-
1,100
Cash at bank and in hand
24,214
10,889
25,314
10,889
Creditors: amounts falling due within one year
(30,809)
(25,506)
(19,920)
(192)
Net current liabilities
Total assets less current liabilities
705,785
609,970
Creditors: amounts falling due after more than one year
3
(456,335)
(498,102)
207,683
Net assets
153,635
Capital and reserves
Called up share capital
2
2
Profit and loss account
207,681
153,633
207,683
153,635
Shareholders funds
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) 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.
Date approved by the board: 23 November 2016
MICHAEL BEARDSMORE Director
Signed on behalf of the board of directors
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Notes to the Abbreviated Financial Statements
BIRWAY LIMITED
For the year ended 31 March 2016
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
20% Reducing balance
Computer Equipment
20% Reducing balance
Motor Vehicles
20% Reducing balance
No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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Notes to the Abbreviated Financial Statements
BIRWAY LIMITED
For the year ended 31 March 2016
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
772,885
At 01 April 2015
84,183
Additions
At 31 March 2016
857,068
Depreciation
142,995
At 01 April 2015
8,096
Charge for year
151,091
At 31 March 2016
Net book values
At 31 March 2016
705,977
629,890
At 31 March 2015
2015
2016
3 Creditors due after more than one year
£
£
413,102
371,335
Bank loans and overdraft
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