Company Registration No. 10474675 (England and Wales)
BORCHE MACHINERY (UK) CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
BORCHE MACHINERY (UK) CO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BORCHE MACHINERY (UK) CO LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
Notes
£
£
Current assets
Debtors
2
21,391
Creditors: amounts falling due within one year
3
(1,395)
Net current assets
19,996
Capital and reserves
Called up share capital
4
50,000
Profit and loss reserves
(30,004)
Total equity
19,996
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 period ended 31 March 2018 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 members have not required the company to obtain an audit of its financial statements for the period 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.
The financial statements were approved and signed by the director and authorised for issue on 10 August 2018
Mr Z Yuan
Director
Company Registration No. 10474675
BORCHE MACHINERY (UK) CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018
- 2 -
1
Accounting policies
Company information
Borche Machinery (UK) Co Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Bay 2, Building 83, First Avenue, Pensnett Trading, Kingswinford, England, DY6 7FL.
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. 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 other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company
only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
BORCHE MACHINERY (UK) CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2018
- 3 -
2
Debtors
2018
Amounts falling due within one year:
£
Amounts owed by group undertakings
10,023
Other debtors
11,368
21,391
3
Creditors: amounts falling due within one year
2018
£
Other creditors
1,395
4
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
50,000 Ordinary of £1 each
50,000
50,000