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2017-10-18
Sage Accounts Production Advanced 2017 Update 2 - FRS
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2018-03-31
COMPANY REGISTRATION NUMBER:
11019561
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Filleted Unaudited Financial Statements
|
|
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Period from 18 October 2017 to 31 March 2018
Officers and professional advisers
|
1
|
|
|
Statement of financial position
|
2
|
|
|
Notes to the financial statements
|
4
|
|
|
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
|
9
|
|
|
Bethell & Shepherd Plumbing & Heating Ltd
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|
Officers and Professional Advisers
|
|
The board of directors
|
Mr S Shepherd
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|
Mr C Bethell
|
|
|
Registered office
|
42 Ramsdale Road
|
|
Carlton
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|
Nottingham
|
|
NG4 3JT
|
|
|
Accountants
|
Swandec
|
|
Chartered Accountants
|
|
550 Valley Road
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|
Basford
|
|
Nottingham
|
|
NG5 1JJ
|
|
|
Bankers
|
Lloyds
|
|
355 Carlton Hill
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|
Carlton
|
|
Nottingham
|
|
NG4 1JE
|
|
|
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Statement of Financial Position
|
|
31 March 2018
Fixed assets
Current assets
Debtors
|
5
|
9,247
|
Cash at bank and in hand
|
10,022
|
|
--------
|
|
19,269
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
26,614
|
|
--------
|
Net current liabilities
|
7,345
|
|
--------
|
Total assets less current liabilities
|
24,399
|
|
|
|
Creditors: amounts falling due after more than one year
|
7
|
21,885
|
|
|
|
Provisions
|
1,807
|
|
--------
|
Net assets
|
707
|
|
--------
|
|
|
Capital and reserves
Called up share capital
|
8
|
2
|
Profit and loss account
|
705
|
|
----
|
Members funds
|
707
|
|
----
|
|
|
|
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 income statement has not been delivered.
For the period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Statement of Financial Position (continued)
|
|
31 March 2018
These financial statements were approved by the
board of directors
and authorised for issue on
6 May 2018
, and are signed on behalf of the board by:
Company registration number:
11019561
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Notes to the Financial Statements
|
|
Period from 18 October 2017 to 31 March 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 Ramsdale Road, Carlton, Nottingham, NG4 3JT.
2.
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.
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.
Income tax
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.
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:
|
Plant and machinery
|
-
|
25% reducing balance
|
|
Motor vehicles
|
-
|
25% reducing balance
|
|
Equipment
|
-
|
|
|
|
|
|
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.
3.
Employee numbers
The average number of persons employed by the company during the period amounted to
3
.
4.
Tangible assets
|
Plant and machinery
|
Motor vehicles
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
Additions
|
800
|
33,580
|
|
34,630
|
|
----
|
--------
|
----
|
--------
|
At 31 March 2018
|
800
|
33,580
|
|
34,630
|
|
----
|
--------
|
----
|
--------
|
Depreciation
|
|
|
|
|
Charge for the period
|
67
|
2,798
|
|
2,886
|
|
----
|
--------
|
----
|
--------
|
At 31 March 2018
|
67
|
2,798
|
|
2,886
|
|
----
|
--------
|
----
|
--------
|
Carrying amount
|
|
|
|
|
At 31 March 2018
|
733
|
30,782
|
|
31,744
|
|
----
|
--------
|
----
|
--------
|
|
|
|
|
|
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 31 March 2018
|
30,415
|
|
--------
|
|
|
5.
Debtors
|
31 Mar 18
|
|
£
|
Trade debtors
|
8,100
|
Other debtors
|
1,147
|
|
-------
|
|
9,247
|
|
-------
|
|
|
6.
Creditors:
amounts falling due within one year
|
31 Mar 18
|
|
£
|
Trade creditors
|
13,460
|
Other creditors
|
13,154
|
|
--------
|
|
26,614
|
|
--------
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
31 Mar 18
|
|
£
|
Other creditors
|
21,885
|
|
--------
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
31 Mar 18
|
|
No.
|
£
|
Ordinary shares of £ 1 each
|
2
|
2
|
|
----
|
----
|
|
|
|
Share movements
Ordinary
At 18 October 2017
|
–
|
–
|
Issue of shares
|
|
2
|
|
----
|
----
|
At 31 March 2018
|
|
2
|
|
----
|
----
|
|
|
|
9.
Directors' advances, credits and guarantees
The directors had various advances and credits during the period. The amounts owed to the directors at the statement of financial position date were £4,435 and £2,773. The directors loan account is unsecured, interest free and repayable on demand.
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Period from 18 October 2017 to 31 March 2018
The following pages do not form part of the financial statements.
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Bethell & Shepherd Plumbing & Heating Ltd
|
|
Period from 18 October 2017 to 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bethell & Shepherd Plumbing & Heating Ltd for the period ended 31 March 2018, 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 Board of Directors of Bethell & Shepherd Plumbing & Heating Ltd, as a body, in accordance with the terms of our engagement letter dated 8 January 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Bethell & Shepherd Plumbing & Heating Ltd and state those matters that we have agreed to state to you, as a body, 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 Bethell & Shepherd Plumbing & Heating Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Bethell & Shepherd Plumbing & Heating Ltd 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 Bethell & Shepherd Plumbing & Heating Ltd. You consider that Bethell & Shepherd Plumbing & Heating Ltd is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Bethell & Shepherd Plumbing & Heating Ltd. 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.
Swandec
Chartered Accountants
550 Valley Road
Basford
Nottingham
NG5 1JJ
6 May 2018