Abbreviated Company Accounts - BARNSWELL LIMITED

06498100 BARNSWELL LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 06498100 2015-04-01 2016-03-31 06498100 2016-03-31 06498100 2015-03-31 06498100 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 06498100 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-03-31 iso4217:GBP shares

Registered Number 06498100

BARNSWELL LIMITED

Abbreviated Accounts

31 March 2016

BARNSWELL LIMITED Registered Number 06498100

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	82,189	58,345
Investments	3	19,995	-
		102,184	58,345
Current assets
Stocks		1,100,000	141,354
Debtors		915,816	840,403
Cash at bank and in hand		1,660	20,472
		2,017,476	1,002,229
Creditors: amounts falling due within one year		(1,965,722)	(985,079)
Net current assets (liabilities)		51,754	17,150
Total assets less current liabilities		153,938	75,495
Creditors: amounts falling due after more than one year		(61,831)	(44,109)
Total net assets (liabilities)		92,107	31,386
Capital and reserves
Called up share capital	4	200	200
Profit and loss account		91,907	31,186
Shareholders' funds		92,107	31,386

For the year ending 31 March 2016 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 13 April 2017

And signed on their behalf by:
A J M Sandham, Director

BARNSWELL LIMITED Registered Number 06498100

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting Convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standards for Small Entities (effective January 2015).

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Compliance with Accounting Standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (excepted as otherwise stated).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery - 20% straight line
Motor vehicles - 25% straight line

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Foreign Currency Translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rates ruling at the date of the transaction. All differences are taken to profit and loss account.

Related Party Relationships and Transactions
Transactions in relation to loans with directors during the year are outlined in the table below:
Description : M A Craig - % Rate : 0 - Opening balance : £64983 - Amounts advanced : £88858 - Interest charged : 0 - Amounts repaid : £86930 - Closing balance : £66911.
Description : M C Craig - % Rate : 0 - Opening balance : £39265 - Amounts advanced : £4200 - Interest charged : 0 - Amounts repaid : £43465 - Closing balance : 0.
Description : A J M Sandham - % Rate : 0 - Opening balance : £26750 - Amounts advanced : £21400 - Interest charged : 0 - Amounts repaid : £33465 - Closing balance : £14685.

2Tangible fixed assets

	£
Cost
At 1 April 2015	116,509
Additions	48,421
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	164,930
Depreciation
At 1 April 2015	58,164
Charge for the year	24,577
On disposals	-
At 31 March 2016	82,741
Net book values
At 31 March 2016	82,189
At 31 March 2015	58,345

3Fixed assets Investments
Additions - £19995
Net book value : 31 March 2016 - £19995

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 A Ordinary shares of £1 each	100	100
100 B Ordinary shares of £1 each	100	100