Brownwood Biomass Ltd - Period Ending 2017-09-30
Brownwood Biomass Ltd - Period Ending 2017-09-30
Registration number:
Brownwood Biomass Ltd
for the Year Ended 30 September 2017
Brownwood Biomass Ltd
Contents
Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
Brownwood Biomass Ltd
(Registration number: 9244818)
Abridged Balance Sheet as at 30 September 2017
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2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 1 |
Brownwood Biomass Ltd
(Registration number: 9244818)
Abridged Balance Sheet as at 30 September 2017
For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Mr A W Brown
Director
Mr L J Heywood
Director
Page 2 |
Brownwood Biomass Ltd
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% reducing balance |
Freehold land and buildings |
2% straight line |
Page 3 |
Brownwood Biomass Ltd
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Total |
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Cost or valuation |
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At 1 October 2016 |
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Additions |
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At 30 September 2017 |
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Depreciation |
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At 1 October 2016 |
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Charge for the year |
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At 30 September 2017 |
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Carrying amount |
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At 30 September 2017 |
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At 30 September 2016 |
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Creditors: amounts falling due within one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £19,400 (2016 - £Nil).
Creditors: amounts falling due after more than one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £77,600 (2016 - £Nil).
Creditors include bank loans repayable by instalments of £10,245 (2016 - £nil) due after more than five years.
Bank borrowings
The bank loan is secured by way of fixed and floating charge over assets held by the company. |
Page 4 |
Brownwood Biomass Ltd
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
Transition to FRS 102 |
There are no transitional adjustments.
Page 5 |