Registered Number 00867867

BIDEFORD TOOL LIMITED

Abbreviated Accounts

31 December 2015

BIDEFORD TOOL LIMITED Registered Number 00867867

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets 2 - -
Tangible assets 3 103,259 109,159
Investments 4 112,117 112,117
215,376 221,276
Current assets
Stocks 157,492 118,996
Debtors 525,594 600,975
Cash at bank and in hand 285,545 219,100
968,631 939,071
Creditors: amounts falling due within one year 5 (400,701) (451,281)
Net current assets (liabilities) 567,930 487,790
Total assets less current liabilities 783,306 709,066
Creditors: amounts falling due after more than one year 5 (25,246) (33,135)
Provisions for liabilities (13,896) (13,781)
Total net assets (liabilities) 744,164 662,150
Capital and reserves
Called up share capital 6 10,000 10,000
Profit and loss account 734,164 652,150
Shareholders' funds 744,164 662,150
  • For the year ending 31 December 2015 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 27 April 2016

And signed on their behalf by:
Mr William Carter, Director

BIDEFORD TOOL LIMITED Registered Number 00867867

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the total value of goods, excluding value added tax, provided to
customers during the year, plus the value of work, excluding value added tax, performed
during the year with respect to services.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each
asset over its expected useful life, as follows:
Land and buildings - Straight line over fifty years
Other tangible assets - 10% - 20% per annum of cost
Tangible fixed assets are stated at cost less accumulated depreciation.

Other accounting policies
Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible
assets and depreciated over the shorter of the lease term and their useful lives. Obligations
under such agreements are included in creditors net of the finance charge allocated to future
periods. The finance element of the rental payment is charged to the profit and loss account
so as to produce constant periodic rates of charge on the net obligations outstanding in each
period.

Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value.

Pensions

The company operates a defined contribution pension scheme. Contributions payable for the
year are charged in the profit and loss account.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date
that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to
apply in the periods in which timing differences reverse, based on tax rates and laws enacted
or substantively enacted at the balance sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling
at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies
are recorded at the date of the transactions. All differences are taken to the Profit and Loss
account.

2 Intangible fixed assets
£
Cost
At 1 January 2015 1,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2015 1,000
Amortisation
At 1 January 2015 1,000
Charge for the year -
On disposals -
At 31 December 2015 1,000
Net book values
At 31 December 2015 0
At 31 December 2014 0
3 Tangible fixed assets
£
Cost
At 1 January 2015 297,680
Additions 32,710
Disposals (7,800)
Revaluations -
Transfers -
At 31 December 2015 322,590
Depreciation
At 1 January 2015 188,521
Charge for the year 38,610
On disposals (7,800)
At 31 December 2015 219,331
Net book values
At 31 December 2015 103,259
At 31 December 2014 109,159

4Fixed assets Investments
Investment details

Participating interests 2015: £112,117 (2014: £112,117)

5 Creditors
2015
£
2014
£
Secured Debts 0 7,889
6 Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
10,000 Ordinary shares of £1 each 10,000 10,000

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