Broughton Transport Solutions Ltd - Period Ending 2014-03-31

Broughton Transport Solutions Ltd

Unaudited Abbreviated Accounts

for the year ended 31 March 2014

Broughton Transport Solutions Ltd
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 5

Broughton Transport Solutions Ltd
(Registration number: 07795214)
Abbreviated Balance Sheet at 31 March 2014

		Note		31 March 2014				31 March 2013
	£		£		£		£
Fixed assets
Tangible fixed assets						189,650			146,196
Current assets
Stocks				27,870				16,705
Debtors				1,072,974				717,936
Cash at bank and in hand				3,094				3,414
				1,103,938				738,055
Creditors: Amounts falling due within one year				(1,290,700)				(734,095)
Net current (liabilities)/assets						(186,762)			3,960
Total assets less current liabilities						2,888			150,156
Creditors: Amounts falling due after more than one year						(249,370)			(284,562)
Net liabilities						(246,482)			(134,406)
Capital and reserves
Called up share capital		4		100				100
Profit and loss account				(246,582)				(134,506)
Shareholders' deficit						(246,482)			(134,406)

Page 1

Broughton Transport Solutions Ltd
(Registration number: 07795214)
Abbreviated Balance Sheet at 31 March 2014

For the year ended 31 March 2014 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 19 December 2014 and signed on its behalf by:

.........................................
T Ovens
Director

Page 2

Broughton Transport Solutions Ltd
Notes to the Abbreviated Accounts for the year Ended 31 March 2014

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis which is dependent on continuing support from the directors and loans from third parties.The directors have confirmed that there is no reason to believe their support will not be forthcoming for at least the next 12 months.

Turnover

Turnover is the amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts. Turnover is recognised to the extent that the company is able to render an invoice having fulfilled its obligations.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	Straight line over 5 years
Fixtures and fittings	Straight line over 2 years
Computer equipment	Straight line over 4 years
Motor vehicles	Straight line over 6 years

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Broughton Transport Solutions Ltd
Notes to the Abbreviated Accounts for the year Ended 31 March 2014

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2013	185,563	185,563
Additions	97,318	97,318
Disposals	(7,612)	(7,612)
At 31 March 2014	275,269	275,269
Depreciation
At 1 April 2013	39,367	39,367
Charge for the year	48,789	48,789
Eliminated on disposals	(2,537)	(2,537)
At 31 March 2014	85,619	85,619
Net book value
At 31 March 2014	189,650	189,650
At 31 March 2013	146,196	146,196

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	31 March 2014 £	31 March 2013 £

Amounts falling due within one year	66,255	40,000
Amounts falling due after more than one year	46,867	48,562
Total secured creditors	113,122	88,562

Page 4

Broughton Transport Solutions Ltd
Notes to the Abbreviated Accounts for the year Ended 31 March 2014

4	Share capital

Allotted, called up and fully paid shares

	31 March 2014			31 March 2013
		No.	£		No.	£
100 ordinary shares of £1 each		100	100		100	100

Page 5