Company Registration No. 09881119 (England and Wales)
BEAR VALLEY COMPANY LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017
PAGES FOR FILING WITH REGISTRAR
BEAR VALLEY COMPANY LTD.
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BEAR VALLEY COMPANY LTD.
BALANCE SHEET
AS AT 30 SEPTEMBER 2017
30 September 2017
1
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
512
-
Current assets
Stocks
985
-
Debtors
4
17,337
-
Cash at bank and in hand
1,121
1
19,443
1
Creditors: amounts falling due within one year
5
(20,819)
-
Net current (liabilities)/assets
(1,376)
1
Total assets less current liabilities
(864)
1
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(865)
-
Total equity
(864)
1
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
BEAR VALLEY COMPANY LTD.
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2017
30 September 2017
2
The financial statements were approved and signed by the director and authorised for issue on 28 June 2018
Mr S Davies
Director
Company Registration No. 09881119
BEAR VALLEY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017
3
1
Accounting policies
Company information
Bear Valley Company Ltd. is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Glen Doric, Kelvin Grove, Netley Abbey, Southampton, Hampshire, SO31 5BL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and
discounts.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33.33% straight line
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
BEAR VALLEY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
1
Accounting policies (Continued)
4
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are
initially recognised at transaction price
including transaction costs
and are subsequently carried at amortised cost using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2016 - 0).
BEAR VALLEY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2016
-
Additions
768
At 30 September 2017
768
Depreciation and impairment
At 1 October 2016
-
Depreciation charged in the year
256
At 30 September 2017
256
Carrying amount
At 30 September 2017
512
At 30 September 2016
-
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
450
-
Other debtors
16,887
-
17,337
-
5
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
8,443
-
Other taxation and social security
872
-
Other creditors
11,504
-
20,819
-
BEAR VALLEY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
6
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
7
Directors' transactions
During the year, loans of £3,357 were advanced to the director. No repayments were made in the year but the balance of £3,357 was subsequently repaid after the year end.