Cousins Material House Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04890253 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

COUSINS MATERIAL HOUSE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Cousins

S Cousins

Mrs C Cousins

REGISTERED OFFICE:

Unit J

Chesham Close

Romford

Essex

RM7 7PJ

REGISTERED NUMBER:

04890253 (England and Wales)

ACCOUNTANTS:

Sargeant Partnership

Chartered Accountants

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

FIXED ASSETS

Intangible assets

4

137,499

164,999

Tangible assets

5

88,252

176,719

225,751

341,718

CURRENT ASSETS

Stocks

3,695,911

3,668,834

Debtors

6

296,168

359,573

Cash in hand

3,119,790

2,596,568

7,111,869

6,624,975

CREDITORS

Amounts falling due within one year

7

907,953

891,180

NET CURRENT ASSETS

6,203,916

5,733,795

TOTAL ASSETS LESS CURRENT LIABILITIES

6,429,667

6,075,513

PROVISIONS FOR LIABILITIES

8

7,354

23,626

NET ASSETS

6,422,313

6,051,887

CAPITAL AND RESERVES

Called up share capital

9

120

120

Retained earnings

10

6,422,193

6,051,767

SHAREHOLDERS' FUNDS

6,422,313

6,051,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 May 2019 and were signed on its behalf by:

A Cousins - Director

1.	STATUTORY INFORMATION

Cousins Material House Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% per annum on cost

Fixtures and fittings

-

25% per annum on cost and 25% per annum on reducing balance

Computer software

-

33% per annum on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2017 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2017

and 31 October 2018

550,002

AMORTISATION

At 1 November 2017

385,003

Charge for year

27,500

At 31 October 2018

412,503

NET BOOK VALUE

At 31 October 2018

137,499

At 31 October 2017

164,999

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

software

Totals

£

£

£

£

COST

At 1 November 2017

318,146

106,541

192,746

617,433

Additions

-

4,693

-

4,693

At 31 October 2018

318,146

111,234

192,746

622,126

DEPRECIATION

At 1 November 2017

183,166

72,075

185,473

440,714

Charge for year

69,624

18,200

5,336

93,160

At 31 October 2018

252,790

90,275

190,809

533,874

NET BOOK VALUE

At 31 October 2018

65,356

20,959

1,937

88,252

At 31 October 2017

134,980

34,466

7,273

176,719

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

202,999

214,362

Other debtors

93,169

145,211

296,168

359,573

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

425,647

457,884

Taxation and social security

290,066

396,336

Other creditors

192,240

36,960

907,953

891,180

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Accelerated capital allowances

7,354

23,626

Deferred

tax

£

Balance at 1 November 2017

23,626

Accelerated capital allowances

(16,272

)

Balance at 31 October 2018

7,354

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

80

Ordinary

£1

80

80

20

A Ordinary

£1

20

20

2

B Ordinary

£1

2

2

2

C Ordinary

£1

2

2

16

D Ordinary

£1

16

16

120

120

10.

RESERVES

Retained

earnings

£

At 1 November 2017

6,051,767

Profit for the year

970,426

Dividends

(600,000

)

At 31 October 2018

6,422,193

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed Mr A Cousins £14,590 (2017: Mr A Cousins owed the

company £11,624).

At the balance sheet date, the company owed Mr S Cousins £64,870 (2017: Mr S Cousins owed the

company £38,076).

At the balance sheet date, C Cousins owed the company £36,650 (2017: the company owed C Cousins

£4,570).

12.	RELATED PARTY DISCLOSURES

During the period the company paid rent to Executive Directors Pension scheme of £64,000 (2017:

£59,386) for the year. At the year end, Cousins Material House was owed £Nil (2017: £Nil) from the

pension scheme.

During the year, the company loaned monies to close family members of the director, Mr A Cousins.

At the balance sheet date J Wood owed the company £2,500 (2017: £5,500).

A Dallas owed the company £18,564 (2017: £5,749).

C Nichols owed the company £8,050 (2017: £12.250).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A.Cousins by virtue of his shareholding.