A Berridge & Co Limited Company Accounts

COMPANY REGISTRATION NUMBER: 03454275

A Berridge & Co Limited

Filleted Unaudited Financial Statements

31 March 2017

A Berridge & Co Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Officers and professional advisers	1

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

A Berridge & Co Limited

Officers and Professional Advisers

Director	Mr A G Berridge

Company secretary	Mrs A Berridge

Registered office	Ceredig House
	6 Mount Stuart Square
	Cardiff
	CF10 6DN

Accountants	Roblins
	Chartered accountant
	3 Deryn Court
	Wharfedale Road
	Pentwyn
	Cardiff
	CF23 7HA

A Berridge & Co Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of A Berridge & Co Limited

Year ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A Berridge & Co Limited for the year ended 31 March 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

Roblins Chartered accountant

3 Deryn Court Wharfedale Road Pentwyn Cardiff CF23 7HA

7 December 2017

A Berridge & Co Limited

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Intangible assets	5	39,000	42,000
Tangible assets	6	3,077	4,103
		--------	--------
		42,077	46,103

Current assets

Work in progress		34,500	109,500
Debtors	7	98,530	608
Cash at bank and in hand		200,588	265,392
		---------	---------
		333,618	375,500

Creditors: amounts falling due within one year	8	20,661		31,167
		---------		---------
Net current assets			312,957	344,333
			---------	---------
Total assets less current liabilities			355,034	390,436

Accruals and deferred income	3,291	10,818
	---------	---------
Net assets	351,743	379,618
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	351,741	379,616
	---------	---------
Shareholders funds	351,743	379,618
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A Berridge & Co Limited

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 7 December 2017 , and are signed on behalf of the board by:

Mr A G Berridge
Director

Company registration number: 03454275

A Berridge & Co Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ceredig House, 6 Mount Stuart Square, Cardiff, CF10 6DN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue recognition

Turnover represents amounts receivable for work done invoiced in the year, stated net of discounts and of Value Added Tax. Work in progress is net work done valued but not yet invoiced at the year end.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	£3,000 per annum over 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	25% reducing balance

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2016 and 31 March 2017	60,000
	--------
Amortisation
At 1 April 2016	18,000
Charge for the year	3,000
	--------
At 31 March 2017	21,000
	--------
Carrying amount
At 31 March 2017	39,000
	--------
At 31 March 2016	42,000
	--------

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2016 and 31 March 2017	15,726	15,726
	--------	--------
Depreciation
At 1 April 2016	11,623	11,623
Charge for the year	1,026	1,026
	--------	--------
At 31 March 2017	12,649	12,649
	--------	--------
Carrying amount
At 31 March 2017	3,077	3,077
	--------	--------
At 31 March 2016	4,103	4,103
	--------	--------

7. Debtors

	2017	2016
	£	£
Trade debtors	96,105	–
Other debtors	2,425	608
	--------	----
	98,530	608
	--------	----

Other debtors is £925 VAT refund receivable (2016 £608) and £1,500 rent prepaid.

8. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	1,035	17,269
Corporation tax	16,120	12,135
Other creditors	3,506	1,763
	--------	--------
	20,661	31,167
	--------	--------

Other creditors are £2,439 directors loan account balance (2016 £1,615) and £1,067 company credit card balance outstanding (2016 £148).

9. Director's advances, credits and guarantees

The directors loan account bought forward at 1st April 2016 of £1,615 was increased in the year to £2,439 outstanding at 31st March 2017.

10. Related party transactions

The company was under the control of Mr Berridge throughout the period. Mr Berridge is the managing director and a shareholder.

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.