Building Cosmetic Services Limited Filleted accounts for Companies House (small and micro)

BUILDING COSMETIC SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02354880

Building Cosmetic Services Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2019

Building Cosmetic Services Limited

Financial Statements

Year ended 31st March 2019

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Building Cosmetic Services Limited

Officers and Professional Advisers

The board of directors	Mr M Slack
	Mrs M Slack

Company secretary	Mrs M Slack

Registered office	4 Portland Arcade
	King Street
	Southwell
	Nottinghamshire
	NG25 0EH

Accountants	Swandec
	Chartered Accountants
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	National Westminster Bank Plc
	9 Church Street
	Southwell
	Nottinghamshire
	NG25 0HW

Building Cosmetic Services Limited

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	4		33,322	33,508

Current assets

Stocks		1,550	1,460
Debtors	5	151,680	120,643
Cash at bank and in hand		158,764	65,429
		---------	---------
		311,994	187,532

Creditors: amounts falling due within one year	6	111,987		72,073
		---------		---------
Net current assets			200,007	115,459
			---------	---------
Total assets less current liabilities			233,329	148,967
			---------	---------
Net assets			233,329	148,967
			---------	---------

Capital and reserves

Called up share capital	7	146	146
Profit and loss account		233,183	148,821
		---------	---------
Shareholders funds		233,329	148,967
		---------	---------

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 year ending 31st March 2019 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 year 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 .

Building Cosmetic Services Limited

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 11 July 2019 , and are signed on behalf of the board by:

Mr M Slack

Director

Company registration number: 02354880

Building Cosmetic Services Limited

Notes to the Financial Statements

Year ended 31st March 2019

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 4 Portland Arcade, King Street, Southwell, Nottinghamshire, NG25 0EH.

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

The turnover shown in the profit and loss account represents amounts invoiced during the year. It is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less tax.

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:

Freehold Property	-	4% straight line
Plant and Machinery	-	25% straight line
Fixtures and Fittings	-	25% straight line
Motor Vehicles	-	25% reducing balance
Office Equipment	-	25% straight line

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Defined contribution plans

The company operates a defined contribution scheme for both the directors and employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2018: 15 ).

4. Tangible assets

	Freehold Property	Plant and machinery	Fixtures and fittings	Motor vehicles	Office Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2018	76,138	2,831	59,208	16,060	39,800	194,037
Additions	–	–	5,231	–	1,583	6,814
	--------	-------	--------	--------	--------	---------
At 31 Mar 2019	76,138	2,831	64,439	16,060	41,383	200,851
	--------	-------	--------	--------	--------	---------
Depreciation
At 1 Apr 2018	48,687	2,831	55,395	15,381	38,235	160,529
Charge for the year	3,423	–	2,261	170	1,146	7,000
	--------	-------	--------	--------	--------	---------
At 31 Mar 2019	52,110	2,831	57,656	15,551	39,381	167,529
	--------	-------	--------	--------	--------	---------
Carrying amount
At 31 Mar 2019	24,028	–	6,783	509	2,002	33,322
	--------	-------	--------	--------	--------	---------
At 31 Mar 2018	27,451	–	3,813	679	1,565	33,508
	--------	-------	--------	--------	--------	---------

5. Debtors

	2019	2018
	£	£
Trade debtors	151,680	120,643
	---------	---------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	14,587	5,350
Corporation tax	26,471	6,322
Social security and other taxes	32,294	24,677
Other creditors	38,635	35,724
	---------	--------
	111,987	72,073
	---------	--------

7. Called up share capital

Issued, called up and fully paid

	2019		2018
	No.	£	No.	£
Ordinary 'A' shares of £ 1 each	100	100.00	100	100.00
Ordinary 'B' shares of £ 1 each	46	46.00	46	46.00
	----	--------	----	--------
	146	146.00	146	146.00
	----	--------	----	--------

8. Directors' advances, credits and guarantees

At the statement of financial position date the amount owing to the directors was £4,423 (2018:1,557). The directors loan account is unsecured, interest free and repayable on demand.