31/07/2018
2018-07-31
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No description of principal activities is disclosed
2017-08-01
Sage Accounts Production 18.30 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
1148399
2017-08-01
2018-07-31
1148399
2018-07-31
1148399
2016-08-01
2017-07-31
1148399
2017-07-31
1148399
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-08-01
2018-07-31
1148399
core:FurnitureFittingsToolsEquipment
2017-08-01
2018-07-31
1148399
bus:OrdinaryShareClass1
2017-08-01
2018-07-31
1148399
bus:Director2
2017-08-01
2018-07-31
1148399
core:WithinOneYear
2018-07-31
1148399
core:WithinOneYear
2017-07-31
1148399
core:LandBuildings
core:OwnedOrFreeholdAssets
2018-07-31
1148399
core:FurnitureFittingsToolsEquipment
2018-07-31
1148399
core:AfterOneYear
2018-07-31
1148399
core:AfterOneYear
2017-07-31
1148399
core:ShareCapital
2018-07-31
1148399
core:ShareCapital
2017-07-31
1148399
core:RevaluationReserve
2018-07-31
1148399
core:RevaluationReserve
2017-07-31
1148399
core:CapitalRedemptionReserve
2018-07-31
1148399
core:CapitalRedemptionReserve
2017-07-31
1148399
core:RetainedEarningsAccumulatedLosses
2018-07-31
1148399
core:RetainedEarningsAccumulatedLosses
2017-07-31
1148399
bus:OrdinaryShareClass1
core:ShareCapital
2018-07-31
1148399
bus:OrdinaryShareClass1
core:ShareCapital
2017-07-31
1148399
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-07-31
1148399
bus:SmallEntities
2017-08-01
2018-07-31
1148399
bus:AuditExempt-NoAccountantsReport
2017-08-01
2018-07-31
1148399
bus:FullAccounts
2017-08-01
2018-07-31
1148399
bus:SmallCompaniesRegimeForAccounts
2017-08-01
2018-07-31
1148399
bus:PrivateLimitedCompanyLtd
2017-08-01
2018-07-31
Registrar
Company registration number:
1148399
Birmingham Business Supplies Limited
Unaudited filleted financial statements
31 July 2018
Birmingham Business Supplies Limited
Contents
Statement of financial position
Notes to the financial statements
Birmingham Business Supplies Limited
Statement of financial position
31 July 2018
|
|
|
2018
|
|
|
|
2017
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
462,114
|
|
|
|
462,114
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
462,114
|
|
|
|
462,114
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
100
|
|
|
|
100
|
|
|
Debtors
|
|
6
|
14
|
|
|
|
2,026
|
|
|
Cash at bank and in hand
|
|
|
11,594
|
|
|
|
9,688
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
11,708
|
|
|
|
11,814
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
37,961)
|
|
|
|
(
35,608)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current liabilities
|
|
|
|
|
(
26,253)
|
|
|
|
(
23,794)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
435,861
|
|
|
|
438,320
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
230,659)
|
|
|
|
(
244,208)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
205,202
|
|
|
|
194,112
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
9
|
|
|
1,000
|
|
|
|
1,000
|
Revaluation reserve
|
|
|
|
|
98,262
|
|
|
|
98,262
|
Capital redemption reserve
|
|
|
|
|
1,000
|
|
|
|
1,000
|
Profit and loss account
|
|
|
|
|
104,940
|
|
|
|
93,850
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
205,202
|
|
|
|
194,112
|
|
|
|
|
|
_______
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|
|
|
_______
|
|
|
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|
For the year ending 31 July 2018 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
10 December 2018
, and are signed on behalf of the board by:
J W Cookson
Director
Company registration number:
1148399
Birmingham Business Supplies Limited
Notes to the financial statements
Year ended 31 July 2018
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN. The business address is 18 Hawthorne Road, Wylde Green, Sutton Coldfield, West Midlands, B72 1ET.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest pound.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
|
|
|
|
|
|
Freehold property
|
-
|
0 %
|
straight line
|
|
Fittings fixtures and equipment
|
-
|
15 %
|
straight line
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction, it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2017:
1
).
5.
Tangible assets
|
|
Freehold property
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 August 2017 and 31 July 2018
|
462,114
|
17,409
|
479,523
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 August 2017 and 31 July 2018
|
-
|
17,409
|
17,409
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 July 2018
|
462,114
|
-
|
462,114
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2017
|
462,114
|
-
|
462,114
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
14
|
2,026
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
13,351
|
12,129
|
|
Trade creditors
|
|
748
|
3,356
|
|
Accruals and deferred income
|
|
11,599
|
9,929
|
|
Corporation tax
|
|
6,310
|
6,006
|
|
Social security and other taxes
|
|
4,219
|
2,761
|
|
Other creditors
|
|
1,734
|
1,427
|
|
|
|
_______
|
_______
|
|
|
|
37,961
|
35,608
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
230,659
|
244,208
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2018
|
|
|
|
2017
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary shares
shares of £
1.00 each
|
|
1,000
|
|
1,000
|
|
1,000
|
|
1,000
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
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|
|