Barngate Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08465859 (England and Wales)

BARNGATE DEVELOPMENTS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M J Shephard

REGISTERED OFFICE:

Moor Farm Barns

Black Lane

Doddington

Lincolnshire

LN6 4RR

REGISTERED NUMBER:

08465859 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

Old Fire Station

19 Watergate

Sleaford

Lincolnshire

NG34 7PG

FIXED ASSETS

Tangible assets

2

20,638

23,752

CURRENT ASSETS

Stocks

25,000

44,510

Debtors

12,139

7,114

Cash at bank

-

5,357

37,139

56,981

CREDITORS

Amounts falling due within one year

3

41,476

71,757

NET CURRENT LIABILITIES

(4,337

)

(14,776

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,301

8,976

CREDITORS

Amounts falling due after more than one year

3

(9,889

)

(12,252

)

PROVISIONS FOR LIABILITIES

(4,105

)

-

NET ASSETS/(LIABILITIES)

2,307

(3,276

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

2,306

(3,277

)

SHAREHOLDERS' FUNDS

2,307

(3,276

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 21 December 2016 and were signed by:

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

M J Shephard - 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 January 2015).

Turnover

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

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.

Plant and machinery

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

27,949

Additions

464

At 31 March 2016

28,413

DEPRECIATION

At 1 April 2015

4,197

Charge for year

3,578

At 31 March 2016

7,775

NET BOOK VALUE

At 31 March 2016

20,638

At 31 March 2015

23,752

3.

CREDITORS

Creditors include an amount of £ 12,252 (2015 - £ 14,615 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1