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No description of principal activity
2019-10-01
Sage Accounts Production Advanced 2020 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
09237306
2019-10-01
2020-09-30
09237306
2020-09-30
09237306
2019-09-30
09237306
2018-10-01
2019-09-30
09237306
2019-09-30
09237306
core:MotorVehicles
2019-10-01
2020-09-30
09237306
bus:RegisteredOffice
2019-10-01
2020-09-30
09237306
bus:LeadAgentIfApplicable
2019-10-01
2020-09-30
09237306
bus:Director1
2019-10-01
2020-09-30
09237306
core:WithinOneYear
2020-09-30
09237306
core:WithinOneYear
2019-09-30
09237306
core:MotorVehicles
2019-09-30
09237306
core:MotorVehicles
2020-09-30
09237306
core:AfterOneYear
2020-09-30
09237306
core:AfterOneYear
2019-09-30
09237306
core:ShareCapital
2020-09-30
09237306
core:ShareCapital
2019-09-30
09237306
core:RetainedEarningsAccumulatedLosses
2020-09-30
09237306
core:RetainedEarningsAccumulatedLosses
2019-09-30
09237306
core:MotorVehicles
2019-09-30
09237306
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2020-09-30
09237306
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2019-09-30
09237306
bus:SmallEntities
2019-10-01
2020-09-30
09237306
bus:AuditExemptWithAccountantsReport
2019-10-01
2020-09-30
09237306
bus:FullAccounts
2019-10-01
2020-09-30
09237306
bus:SmallCompaniesRegimeForAccounts
2019-10-01
2020-09-30
09237306
bus:PrivateLimitedCompanyLtd
2019-10-01
2020-09-30
09237306
core:ComputerEquipment
2020-09-30
09237306
core:ComputerEquipment
2019-09-30
09237306
core:ComputerEquipment
2019-10-01
2020-09-30
09237306
core:AfterOneYear
2019-10-01
2020-09-30
COMPANY REGISTRATION NUMBER:
09237306
BISHOP AUCKLAND FARRIERS LIMITED
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
BISHOP AUCKLAND FARRIERS LIMITED
|
|
YEAR ENDED 30 SEPTEMBER 2020
Officers and professional advisers
|
1
|
|
|
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3 to 4
|
|
|
Notes to the financial statements
|
5 to 9
|
|
|
BISHOP AUCKLAND FARRIERS LIMITED
|
|
OFFICERS AND PROFESSIONAL ADVISERS
|
|
Registered office
|
5 Henson Close
|
|
South Church Enterprise Park
|
|
Bishop Auckland
|
|
County Durham
|
|
DL14 6WA
|
|
|
Accountants
|
Allen Sykes Ltd
|
|
Chartered Accountants
|
|
5 Henson Close
|
|
South Church Enterprise Park
|
|
Bishop Auckland
|
|
County Durham
|
|
DL14 6WA
|
|
|
Bankers
|
HSBC Plc
|
|
21 Newgate Street
|
|
Bishop Auckland
|
|
County Durham
|
|
DL14 7HQ
|
|
|
BISHOP AUCKLAND FARRIERS LIMITED
|
|
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS
|
|
YEAR ENDED 30 SEPTEMBER 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bishop Auckland Farriers Limited for the year ended 30 September 2020, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Bishop Auckland Farriers Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Bishop Auckland Farriers Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bishop Auckland Farriers Limited and its director for our work or for this report.
It is your duty to ensure that Bishop Auckland Farriers 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 loss of Bishop Auckland Farriers Limited. You consider that Bishop Auckland Farriers 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 Bishop Auckland Farriers 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.
Allen Sykes Ltd
Chartered Accountants
5 Henson Close
South Church Enterprise Park
Bishop Auckland
County Durham
DL14 6WA
23 January 2021
BISHOP AUCKLAND FARRIERS LIMITED
|
|
STATEMENT OF FINANCIAL POSITION
|
|
30 September 2020
FIXED ASSETS
Tangible assets
|
5
|
|
10,150
|
13,534
|
|
|
|
|
|
CURRENT ASSETS
Stocks
|
1,511
|
|
1,510
|
Debtors
|
6
|
3,777
|
|
750
|
Cash at bank and in hand
|
9,167
|
|
3,816
|
|
---------
|
|
-------
|
|
14,455
|
|
6,076
|
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
7
|
27,893
|
|
18,003
|
|
---------
|
|
---------
|
NET CURRENT LIABILITIES
|
|
13,438
|
11,927
|
|
|
---------
|
---------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
(
3,288)
|
1,607
|
|
|
|
|
|
CREDITORS: amounts falling due after more than one year
|
8
|
|
3,084
|
5,530
|
|
|
|
|
|
PROVISIONS
Taxation including deferred tax
|
|
1,929
|
2,571
|
|
|
-------
|
-------
|
NET LIABILITIES
|
|
(
8,301)
|
(
6,494)
|
|
|
-------
|
-------
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
(
8,401)
|
(
6,594)
|
|
|
-------
|
-------
|
SHAREHOLDERS DEFICIT
|
|
(
8,301)
|
(
6,494)
|
|
|
-------
|
-------
|
|
|
|
|
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 Section 1A of 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 income statement has not been delivered.
For the year ending 30 September 2020 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
.
BISHOP AUCKLAND FARRIERS LIMITED
|
|
STATEMENT OF FINANCIAL POSITION (continued)
|
|
30 September 2020
These financial statements were approved by the
board of directors
and authorised for issue on
23 January 2021
, and are signed on behalf of the board by:
Company registration number:
09237306
BISHOP AUCKLAND FARRIERS LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 30 SEPTEMBER 2020
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Henson Close, South Church Enterprise Park, Bishop Auckland, County Durham, DL14 6WA.
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
As shown in the Balance Sheet the company has a net deficit of assets at 30 September 2020. The company meets its day to day working capital requirements partly through loans from its director, which will continue to be available for the foreseeable future should the company require it. The director will increase the loan if necessary to cover any further shortfall in working capital. On this basis the director believes it appropriate to prepare the accounts on a going concern basis.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
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
|
|
Computer equipment
|
-
|
3 years straight line
|
|
|
|
|
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.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
4
(2019:
4
).
5.
TANGIBLE ASSETS
|
Motor vehicles
|
Computer Equipment
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 October 2019 and 30 September 2020
|
15,468
|
1,212
|
16,680
|
|
---------
|
-------
|
---------
|
Depreciation
|
|
|
|
At 1 October 2019
|
1,934
|
1,212
|
3,146
|
Charge for the year
|
3,384
|
–
|
3,384
|
|
---------
|
-------
|
---------
|
At 30 September 2020
|
5,318
|
1,212
|
6,530
|
|
---------
|
-------
|
---------
|
Carrying amount
|
|
|
|
At 30 September 2020
|
10,150
|
–
|
10,150
|
|
---------
|
-------
|
---------
|
At 30 September 2019
|
13,534
|
–
|
13,534
|
|
---------
|
-------
|
---------
|
|
|
|
|
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
Motor vehicles
|
|
£
|
At 30 September 2020
|
10,150
|
|
---------
|
At 30 September 2019
|
13,534
|
|
---------
|
|
|
6.
DEBTORS
|
2020
|
2019
|
|
£
|
£
|
Other debtors
|
3,777
|
750
|
|
-------
|
----
|
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
6,782
|
5,377
|
Accruals and deferred income
|
1,540
|
1,465
|
Social security and other taxes
|
16,820
|
8,033
|
Obligations under finance leases and hire purchase contracts
|
2,446
|
2,140
|
Director loan accounts
|
–
|
942
|
Other creditors
|
305
|
46
|
|
---------
|
---------
|
|
27,893
|
18,003
|
|
---------
|
---------
|
|
|
|
Hire purchase agreements are secured by the assets to which they relate.
8.
CREDITORS:
amounts falling due after more than one year
|
2020
|
2019
|
|
£
|
£
|
Obligations under finance leases and hire purchase contracts
|
3,084
|
5,530
|
|
-------
|
-------
|
|
|
|
Hire purchase agreements are secured by the assets to which they relate.
9.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the company provided a loan to Mr W Moore, director. The maximum amount outstanding during the year was £2,136 due to expenditure being paid on the directors behalf (2019: £Nil). At the year end the director owed the company £2,136 (2019: £Nil). This loan is interest free and repayable on demand.