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REGISTERED NUMBER:
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Llewellyn Smith Limited. |
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Financial Statements for the Year Ended 30 September 2018 |
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REGISTERED NUMBER:
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Llewellyn Smith Limited. |
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Financial Statements for the Year Ended 30 September 2018 |
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Llewellyn Smith Limited. (Registered number: 04361151) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
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Page |
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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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Llewellyn Smith Limited. |
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Company Information |
for the Year Ended 30 September 2018 |
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Directors: |
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Registered office: |
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Registered number: |
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Independent auditors : |
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Summerdale |
Head Dyke Lane |
Pilling |
Preston |
Lancashire |
PR3 6SJ |
Llewellyn Smith Limited. (Registered number: 04361151) |
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Balance Sheet |
30 September 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
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Current assets |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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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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Provisions for liabilities | 10 |
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Net assets |
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Capital and reserves |
Called up share capital | 11 |
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Retained earnings |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Llewellyn Smith Limited. (Registered number: 04361151) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
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1. | Statutory information |
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Llewellyn Smith Limited. is a
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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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Changes in accounting policies |
The company previously reported under FRS 101 but has now adopted FRS 102 (Section 1A) as the company |
changed ownership before the year end and is now part of a small group. The accounting policies now adopted |
are not materially different to those previously adopted and there is no impact on equity or profit or loss. |
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Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the |
year, exclusive of Value Added Tax and trade discounts, including those works undertaken but not yet invoiced |
as at the period end. Turnover is recognised in the month that the service is delivered. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any |
accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the |
asset into the location and condition necessary for it to be capable of operating in the manner intended by |
management. |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
appropriate, or there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
recognised in the profit and loss account. |
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Work in progress |
Work in progress is valued at the lower of cost and net realisable value. Cost includes labour and attributable |
overheads. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except |
to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Llewellyn Smith Limited. (Registered number: 04361151) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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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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Pension costs and other post-retirement benefits |
The company operates a defined benefit contribution plan for its employees. A defined contribution plan is a |
plan under which the company pays fixed contributions into a separate entity. Once the contributions have been |
paid the company has no further obligations. |
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not |
paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the |
company in independently administered funds. |
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Exceptional items |
Exceptional items are transactions that fall within the ordinary activities of the company but are presented |
separately due to their size or incidence. |
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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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4. | Auditors' remuneration |
2018 | 2017 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's
financial statements |
6,000 |
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In the prior year, all audit fees of the company were bourne by the parent company, Servest Group Limited |
Llewellyn Smith Limited. (Registered number: 04361151) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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5. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 October 2017 |
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Additions |
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Disposals |
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At 30 September 2018 |
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Depreciation |
At 1 October 2017 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2018 |
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Net book value |
At 30 September 2018 |
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At 30 September 2017 |
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6. | Stocks |
2018 | 2017 |
£ | £ |
Work-in-progress |
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7. | Debtors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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8. | Creditors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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9. | Leasing agreements |
At 30 September 2018, the company had total commitments under non-cancellable operating leases over the |
remaining life of those leases of £42,792 (2017 - £18,000). |
Llewellyn Smith Limited. (Registered number: 04361151) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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10. | Provisions for liabilities |
2018 | 2017 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Other timing differences |
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Tax losses carried forward | (4,769 | ) | - |
- | 4,769 |
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Deferred |
tax |
£ |
Balance at 1 October 2017 |
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Provided during year | ( |
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Balance at 30 September 2018 |
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11. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1.00 | 1,000 | 1,000 |
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12. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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13. | Ultimate controlling party |
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At the previous year end 30 September 2017 the immediate parent company and head of the smallest group for |
which consolidated accounts are available is Servest Group Limited (now Atalian Servest Group Limited). The |
consolidated accounts are available from Companies House, Cardiff, CF14 3UZ. |
At 30 September 2017 the ultimate parent company and the head of the largest group for which consolidated |
accounts are drawn up was Servest Group Proprietary Limited, a company incorporated in South Africa. |
In the opinion of the directors there was no ultimate controlling party at 30 September 2017. |
On 9 May 2018 the entire share capital of the parent company and head of the Servest UK Group, Servest |
Limited (now Atalian Servest Group Holdings Limited), was acquired by Atalian Global UK 2 Limited (now |
Atalian Servest Holdings Limited), a subsidiary of La Financière Atalian S.A.S., a private company |
headquartered in France. The ultimate parent and head of the largest group for which consolidated accounts are |
up is La Financière Atalian S.A.S., a company incorporated in France |
The ultimate controlling party at 9 May 2018 was Mr Franck Julien. |
On 14 September 2018 the entire share capital of Llewellyn Smith Holdings Limited, the immediate parent |
company of Llewellyn Smith Limited was acquired by BS Holdings (Suffolk) Limited (formerly I Bullock |
Limited). The ultimate controlling parties from 14 September 2018 are Mr I Bullock and Mr J R Sleep, directors |
and shareholders of BS Holdings (Suffolk) Limited. |
Llewellyn Smith Limited. (Registered number: 04361151) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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14. | Going concern |
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The company was acquired by BS Holdings (Suffolk) Limited (formerly I Bullock Limited) in September 2018. |
The accounts for the year ended 30 September 2018 show a loss for the year of £511,329 excluding an |
exceptional gain on the write off of loans from the previous owners, Servest Group Limited of £770,998 in the |
year. Turnover has reduced from £1.70m to £1.15m from the previous year and turnover has reduced further in |
the current year such that a further loss is expected. However the new directors of the company have taken action |
to increase the turnover by obtaining new contracts and reducing costs. At the date of approving the accounts the |
company has current liabilities of £260k which exceed current assets. The directors have reviewed the company's |
cash flow projections and are satisfied that the company will be able to repay liabilities within the next twelve |
months and therefore the company has adopted the going concern basis on preparing its financial statements. |