Heritage Sheds and Fencing Limited
Heritage Sheds and Fencing Limited
Registered number: 07411455
Unaudited Financial Statements
For The Year Ended 31 October 2018
Gillespie BS Limited
2 Gloucester Road North
Filton
Bristol
BS7 0SF
Heritage Sheds and Fencing Limited
Unaudited Financial Statements
For The Year Ended 31 October 2018
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Heritage Sheds and Fencing Limited
Balance Sheet
As at
31 October 2018
Balance Sheet
Registered number:
07411455
For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 252,209 | 235,920 | |||
Page 1
Heritage Sheds and Fencing Limited
Balance Sheet (continued)
As at
31 October 2018
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Heritage Sheds and Fencing Limited
Notes to the Financial Statements
For The Year Ended 31 October 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.6.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Page 3
Heritage Sheds and Fencing Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
1.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.
Average Number of Employees
Average number of employees, including directors, during the year was twelve.
3.
Tangible Assets
| Land & Property | |||||
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| Freehold | Plant & Machinery | Motor Vehicles | Computer Equipment | Total | |
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| Additions |
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| Depreciation | |||||
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| Provided during the period |
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| Net Book Value | |||||
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4.
Stocks
| 2018 | 2017 | ||
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| £ | £ | ||
| Stock - finished goods |
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Page 4
Heritage Sheds and Fencing Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
5.
Debtors
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Due after more than one year | |||
| Other debtors |
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6.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Directors loan account |
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Page 5
Heritage Sheds and Fencing Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
8.
Obligations Under Finance Leases and Hire Purchase
| 2018 | 2017 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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10.
General Information
Heritage Sheds and Fencing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07411455 . The registered office is 2 Gloucester Road North, Bristol, BS7 0SF.
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