Betts And Faulkner Limited - Accounts to registrar (filleted) - small 18.1

Betts And Faulkner Limited - Accounts to registrar (filleted) - small 18.1

BETTS AND FAULKNER LIMITED - Company Information

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REGISTERED NUMBER: 07308461 (England and Wales)















Financial Statements for the Year Ended 31 July 2018

for

Betts And Faulkner Limited
Betts And Faulkner Limited (Registered number: 07308461)






Contents of the Financial Statements
for the Year Ended 31 July 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


Betts And Faulkner Limited

Company Information
for the Year Ended 31 July 2018







DIRECTOR: Mr R J Rogers





REGISTERED OFFICE: 4 Cromwell Court
New Street
Aylesbury
Buckinghamshire
HP20 2PB





REGISTERED NUMBER: 07308461 (England and Wales)
Page 1
Betts And Faulkner Limited (Registered number: 07308461)

Balance Sheet
31 July 2018

2018 2017
Notes £    £   
FIXED ASSETS
Tangible assets 3 66,752 83,440

CURRENT ASSETS
Stocks 1,259,080 549,826
Debtors 4 26,537 24,278
Cash at bank 13,789 14,607
1,299,406 588,711
CREDITORS
Amounts falling due within one year 5 (1,273,066 ) (544,970 )
NET CURRENT ASSETS 26,340 43,741
TOTAL ASSETS LESS CURRENT
LIABILITIES
93,092
127,181

CREDITORS
Amounts falling due after more than one
year
6
-
(21,868
)
NET ASSETS 93,092 105,313

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 149,800 149,800
Retained earnings (56,908 ) (44,687 )
93,092 105,313

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

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

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 30 April 2019 and were signed by:





Mr R J Rogers - Director


The notes form part of these financial statements

Page 2
Betts And Faulkner Limited (Registered number: 07308461)

Notes to the Financial Statements
for the Year Ended 31 July 2018

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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.

Fixed assets
All fixed assets are initially recorded at cost.

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2017
and 31 July 2018 104,300
DEPRECIATION
At 1 August 2017 20,860
Charge for year 16,688
At 31 July 2018 37,548
NET BOOK VALUE
At 31 July 2018 66,752
At 31 July 2017 83,440

Page 3 continued...
Betts And Faulkner Limited (Registered number: 07308461)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 26,537 24,278

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 21,868 46,897
Trade creditors 196,528 173,516
Other creditors 1,054,670 324,557
1,273,066 544,970

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts - 21,868

Page 4