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REGISTERED NUMBER:
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BRITISH LAMINATE FABRICATORS |
ASSOCIATION LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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REGISTERED NUMBER:
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BRITISH LAMINATE FABRICATORS |
ASSOCIATION LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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BRITISH LAMINATE FABRICATORS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00883837) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BRITISH LAMINATE FABRICATORS |
ASSOCIATION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BRITISH LAMINATE FABRICATORS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00883837) |
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BALANCE SHEET |
30 JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES |
Income and expenditure account |
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The directors acknowledge their 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 surplus or deficit 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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BRITISH LAMINATE FABRICATORS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00883837) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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1. | STATUTORY INFORMATION |
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British Laminate Fabricators Association Limited is a
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registered in England and Wales. The company's registered number and registered office address can |
be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in sterling (£) which is also the functional currency for the |
company. |
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The company transitioned from previously extant UK GAAP to FRS 102 Section 1A as at 1 July 2015. |
The transition to FRS 102 Section 1A has not affected the reported financial position and financial |
performance. |
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Going concern |
The accounts are prepared on a going concern basis. The use of the going concern basis of |
accounting is appropriate because there are no material uncertainties related to events or conditions |
that may cast significant doubt about the ability of the company to continue as a going concern on the |
basis that group undertakings will continue to support the company. |
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Significant judgements and estimates |
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The preparation of financial statements requires management to make judgements, estimates and |
assumptions about the carrying values of assets and liabilities that are not readily apparent from other |
sources. The estimates and underlying assumptions are based on historical experience and other |
factors that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects both |
current and future periods. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and |
value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering |
of services. |
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Rendering of services |
Turnover from the rendering of services is recognised by reference to the stage of completion of the |
contract. The stage of completion of a contract is measured by comparing the costs incurred for work |
performed to date to the total estimated contract costs. Turnover is only recognised to the extent of |
recoverable expenses when the outcome of a contract cannot be estimated reliably. |
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Interest income |
Interest income is recognised using the effective interest method. |
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BRITISH LAMINATE FABRICATORS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00883837) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the |
current or past reporting periods using tax rates that have been enacted or substantively enacted by |
the reporting date. |
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Trade and other debtors |
Trade and other debtors are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest. Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
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Cash and cash equivalents |
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Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term |
deposits with an original maturity date of three months or less. For the purpose of the consolidated |
cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined |
above, net of outstanding bank overdrafts |
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Trade and other creditors |
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Trade and other creditors are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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