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REGISTERED NUMBER:
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B.E.C. (INGOLDMELLS) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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REGISTERED NUMBER:
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B.E.C. (INGOLDMELLS) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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B.E.C. (INGOLDMELLS) LIMITED (REGISTERED NUMBER: 01266579) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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B.E.C. (INGOLDMELLS) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
10/12 The Terrace |
Spilsby |
Lincolnshire |
PE23 5JR |
B.E.C. (INGOLDMELLS) LIMITED (REGISTERED NUMBER: 01266579) |
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BALANCE SHEET |
31 DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Prepayments and accrued income |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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( |
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NET ASSETS |
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B.E.C. (INGOLDMELLS) LIMITED (REGISTERED NUMBER: 01266579) |
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BALANCE SHEET - continued |
31 DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Fair value reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 profit or loss 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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B.E.C. (INGOLDMELLS) LIMITED (REGISTERED NUMBER: 01266579) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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B.e.c. (Ingoldmells) Limited is a
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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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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Turnover represents retail sales in the year net of vat |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment loss. |
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Computer software is being amortised on a reducing balance basis. |
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Tangible fixed assets |
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Long leasehold | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at discounted retail price after allowing for obsolete items and discounts |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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B.E.C. (INGOLDMELLS) LIMITED (REGISTERED NUMBER: 01266579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
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COST |
At 1 January 2017 |
and 31 December 2017 |
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AMORTISATION |
At 1 January 2017 |
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Amortisation for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and | Motor |
leasehold | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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6. | INVESTMENT PROPERTY |
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Included in land and buildings are investment properties valued by the Banks Long & Co at £377500 |
on the basis of their open market value at 31st December 2015. |
B.E.C. (INGOLDMELLS) LIMITED (REGISTERED NUMBER: 01266579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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6. | INVESTMENT PROPERTY - continued |
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Fair value at 31 December 2017 is represented by: |
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£ |
Valuation in 2004 | 11,905 |
Valuation in 2008 | 20,000 |
Valuation in 2009 | 10,000 |
Valuation in 2015 | 81,869 |
Cost | 253,726 |
377,500 |
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If the investment properties had not been revalued they would have been included at the following |
historical cost: |
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2017 | 2016 |
£ | £ |
Cost | 317,858 | 317,858 |
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Investment properties were valued on an open market basis on 31 December 2015 by Banks Long & Co |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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B.E.C. (INGOLDMELLS) LIMITED (REGISTERED NUMBER: 01266579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 15,440 | 20,584 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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The bank loan is secured by fixed charge over the company's investment property. |
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11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2017 |
and 31 December 2017 |
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12. | RELATED PARTY DISCLOSURES |
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The company operates part of its trade from land premises owned by the directors. No rental charge |
is made by the directors for the use of these facilities. |
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13. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Mr A Chapman and Mrs L Phillips directors and majority shareholders. |