Registration number:
Barnet Plumbing and Bathrooms Ltd
for the Period from 21 November 2018 to 30 November 2019
Barnet Plumbing and Bathrooms Ltd
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Barnet Plumbing and Bathrooms Ltd
Company Information
Directors |
R Gates DH Sheridan |
Registered office |
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Accountants |
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Page 1 |
Barnet Plumbing and Bathrooms Ltd
(Registration number: 11688356)
Abridged Balance Sheet as at 30 November 2019
Note |
2019 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Page 2 |
Barnet Plumbing and Bathrooms Ltd
(Registration number: 11688356)
Abridged Balance Sheet as at 30 November 2019
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Director
Page 3 |
Barnet Plumbing and Bathrooms Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 21 November 2018 to 30 November 2019
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33.3% straight line basis |
Page 4 |
Barnet Plumbing and Bathrooms Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 21 November 2018 to 30 November 2019
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
over 15 years |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Page 5 |
Barnet Plumbing and Bathrooms Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 21 November 2018 to 30 November 2019
Intangible assets |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 30 November 2019 |
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Amortisation |
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Amortisation charge |
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At 30 November 2019 |
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Carrying amount |
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At 30 November 2019 |
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Tangible assets |
Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
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Additions |
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At 30 November 2019 |
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Depreciation |
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Charge for the period |
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At 30 November 2019 |
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Carrying amount |
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At 30 November 2019 |
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Share capital |
Allotted, called up and fully paid shares
2019 |
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No. |
£ |
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100 |
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