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No description of principal activity
2016-04-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
04675655
2016-04-01
2017-03-31
04675655
2017-03-31
04675655
2016-03-31
04675655
2015-04-01
2016-03-31
04675655
2016-03-31
04675655
core:MotorVehicles
2016-04-01
2017-03-31
04675655
bus:LeadAgentIfApplicable
2016-04-01
2017-03-31
04675655
bus:Director1
2016-04-01
2017-03-31
04675655
core:MotorVehicles
2016-03-31
04675655
core:MotorVehicles
2017-03-31
04675655
core:WithinOneYear
2017-03-31
04675655
core:WithinOneYear
2016-03-31
04675655
core:ShareCapital
2017-03-31
04675655
core:ShareCapital
2016-03-31
04675655
core:RetainedEarningsAccumulatedLosses
2017-03-31
04675655
core:RetainedEarningsAccumulatedLosses
2016-03-31
04675655
core:MotorVehicles
2016-03-31
04675655
bus:FRS102
2016-04-01
2017-03-31
04675655
bus:AuditExemptWithAccountantsReport
2016-04-01
2017-03-31
04675655
bus:FullAccounts
2016-04-01
2017-03-31
04675655
bus:SmallCompaniesRegimeForAccounts
2016-04-01
2017-03-31
04675655
bus:PrivateLimitedCompanyLtd
2016-04-01
2017-03-31
04675655
core:OfficeEquipment
2016-04-01
2017-03-31
04675655
core:OfficeEquipment
2017-03-31
04675655
core:OfficeEquipment
2016-03-31
COMPANY REGISTRATION NUMBER:
04675655
Steve Burnage Electrical Limited
|
|
Filleted Unaudited Financial Statements
|
|
Steve Burnage Electrical Limited
|
|
Year ended 31 March 2017
Statement of financial position
|
1
|
|
|
Notes to the financial statements
|
3
|
|
|
The following pages do not form part of the financial statements
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
|
7
|
|
|
Steve Burnage Electrical Limited
|
|
Statement of Financial Position
|
|
31 March 2017
Fixed assets
Tangible assets
|
5
|
|
516
|
689
|
|
|
|
|
|
Current assets
Stocks
|
169,977
|
|
–
|
Debtors
|
6
|
20,868
|
|
16,780
|
Cash at bank and in hand
|
55,511
|
|
207,435
|
|
---------
|
|
---------
|
|
246,356
|
|
224,215
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
71,433
|
|
73,832
|
|
---------
|
|
---------
|
Net current assets
|
|
174,923
|
150,383
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
175,439
|
151,072
|
|
|
---------
|
---------
|
Net assets
|
|
175,439
|
151,072
|
|
|
---------
|
---------
|
|
|
|
|
|
Steve Burnage Electrical Limited
|
|
Statement of Financial Position (continued)
|
|
31 March 2017
Capital and reserves
Called up share capital
|
|
1
|
1
|
Profit and loss account
|
|
175,438
|
151,071
|
|
|
---------
|
---------
|
Shareholders funds
|
|
175,439
|
151,072
|
|
|
---------
|
---------
|
|
|
|
|
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.
For the year ending 31 March 2017 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
16 December 2017
, and are signed on behalf of the board by:
Company registration number:
04675655
Steve Burnage Electrical Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
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.
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, except deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
|
Motor vehicles
|
-
|
25% reducing balance
|
|
Equipment
|
-
|
25% reducing balance
|
|
|
|
|
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2016:
1
).
5.
Tangible assets
|
Motor vehicles
|
Equipment
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 April 2016 and 31 March 2017
|
8,848
|
1,767
|
10,615
|
|
-------
|
-------
|
--------
|
Depreciation
|
|
|
|
At 1 April 2016
|
8,544
|
1,382
|
9,926
|
Charge for the year
|
76
|
97
|
173
|
|
-------
|
-------
|
--------
|
At 31 March 2017
|
8,620
|
1,479
|
10,099
|
|
-------
|
-------
|
--------
|
Carrying amount
|
|
|
|
At 31 March 2017
|
228
|
288
|
516
|
|
-------
|
-------
|
--------
|
At 31 March 2016
|
304
|
385
|
689
|
|
-------
|
-------
|
--------
|
|
|
|
|
6.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Trade debtors
|
12,521
|
16,780
|
Other debtors
|
8,347
|
–
|
|
--------
|
--------
|
|
20,868
|
16,780
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Trade creditors
|
6,906
|
5,963
|
Corporation tax
|
7,434
|
9,418
|
Social security and other taxes
|
6,563
|
9,962
|
Other creditors
|
50,530
|
48,489
|
|
--------
|
--------
|
|
71,433
|
73,832
|
|
--------
|
--------
|
|
|
|
8.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.
Steve Burnage Electrical Limited
|
|
Year ended 31 March 2017
The following pages do not form part of the financial statements.
Steve Burnage Electrical Limited
|
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Steve Burnage Electrical Limited
|
|
Year ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Steve Burnage Electrical Limited for the year ended 31 March 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at: www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Steve Burnage Electrical Limited in accordance with the terms of our engagement letter dated 13 November 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Steve Burnage Electrical Limited and state those matters that we have agreed to state you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at: www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Steve Burnage Electrical Limited and its director for our work or for this report.
It is your duty to ensure that Steve Burnage Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Steve Burnage Electrical Limited. You consider that Steve Burnage Electrical Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Steve Burnage Electrical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
COLLETT HULANCE LLP
Chartered Certified Accountants
40 Kimbolton Road
Bedford
MK40 2NR
15 December 2017