Balfour Carpets Ltd - Accounts to registrar - small 17.1

Balfour Carpets Ltd - Accounts to registrar - small 17.1


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REGISTERED NUMBER: 08646849(England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2016

for

Balfour Carpets Ltd

Balfour Carpets Ltd (Registered number: 08646849)






Contents of the Financial Statements
for the Year Ended 31 August 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Balfour Carpets Ltd

Company Information
for the Year Ended 31 August 2016







DIRECTOR: R Jackson





REGISTERED OFFICE: c/o Sutton McGrath Ltd
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ





REGISTERED NUMBER: 08646849(England and Wales)





ACCOUNTANTS: Sutton McGrath Hartley Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

Balfour Carpets Ltd (Registered number: 08646849)

Balance Sheet
31 August 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 63,750 67,500
Tangible assets 5 9,511 8,274
73,261 75,774

CURRENT ASSETS
Stocks 196,302 200,829
Debtors 6 57,698 74,169
Cash at bank and in hand 115,594 72,190
369,594 347,188
CREDITORS
Amounts falling due within one year 7 280,064 291,463
NET CURRENT ASSETS 89,530 55,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,791

131,499

CREDITORS
Amounts falling due after more than one
year

8

29,887

69,423
NET ASSETS 132,904 62,076

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 132,804 61,976
SHAREHOLDERS' FUNDS 132,904 62,076

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Balfour Carpets Ltd (Registered number: 08646849)

Balance Sheet - continued
31 August 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 May 2017and were signed by:





R Jackson- Director


Balfour Carpets Ltd (Registered number: 08646849)

Notes to the Financial Statements
for the Year Ended 31 August 2016

1. STATUTORY INFORMATION

Balfour Carpets Ltd is a private company, limited by shares, registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16.

Balfour Carpets Ltd (Registered number: 08646849)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2016

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2015
and 31 August 2016 75,000
AMORTISATION
At 1 September 2015 7,500
Charge for year 3,750
At 31 August 2016 11,250
NET BOOK VALUE
At 31 August 2016 63,750
At 31 August 2015 67,500

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2015 - - 8,300 17,320 25,620
Additions 974 500 9,800 1,272 12,546
Disposals - - (2,800 ) - (2,800 )
At 31 August 2016 974 500 15,300 18,592 35,366
DEPRECIATION
At 1 September 2015 - - 5,463 11,883 17,346
Charge for year 195 100 4,682 5,792 10,769
Eliminated on disposal - - (2,260 ) - (2,260 )
At 31 August 2016 195 100 7,885 17,675 25,855
NET BOOK VALUE
At 31 August 2016 779 400 7,415 917 9,511
At 31 August 2015 - - 2,837 5,437 8,274

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 57,698 74,169

Balfour Carpets Ltd (Registered number: 08646849)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2016

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 37,016 36,600
Trade creditors 52,745 70,303
Taxation and social security 65,583 52,814
Other creditors 124,720 131,746
280,064 291,463

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2016 2015
£    £   
Other creditors 29,887 69,423

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 September 2015 61,976
Profit for the year 94,128
Dividends (23,300 )
At 31 August 2016 132,804