E. Bacon & Co. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00178235 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

E. BACON & CO. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J. W. A. Clugston

Mr S. Cook

Mrs J. M. Owen

Mr. D. R. Bacon

Mr D. W. A. Clugston

REGISTERED OFFICE:

Estate Road 2

South Humberside Industrial Estate

GRIMSBY

DN31 2TG

REGISTERED NUMBER:

00178235 (England and Wales)

ACCOUNTANTS:

Smethurst & Co LLP

12 Abbey Road

GRIMSBY

DN32 0HL

FIXED ASSETS

Tangible assets

4

199,724

129,000

CURRENT ASSETS

Stocks

5

41,565

36,142

Debtors

6

173,584

151,952

Cash at bank and in hand

271,177

257,011

486,326

445,105

CREDITORS

Amounts falling due within one year

7

145,343

101,118

NET CURRENT ASSETS

340,983

343,987

TOTAL ASSETS LESS CURRENT LIABILITIES

540,707

472,987

CREDITORS

Amounts falling due after more than one year

8

(14,398

)

(13,703

)

PROVISIONS FOR LIABILITIES

(34,746

)

(21,639

)

NET ASSETS

491,563

437,645

CAPITAL AND RESERVES

Allotted, called up and

fully paid share capital

25,000

25,000

Profit and loss account

466,563

412,645

491,563

437,645

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

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

Mr J. W. A. Clugston - Director

Mr S. Cook - Director

1.	STATUTORY INFORMATION

E. Bacon & Co. 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.

The financial statements are presented in UK Pound Sterling (£).

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

5% Reducing Balance

Plant and machinery

-

10% Reducing Balance

Motor vehicles

-

25% Reducing Balance

Office equipment

-

10% 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 Profit and Loss Account,

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 15 (2017 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

Office

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2018

47,397

172,314

46,350

3,862

269,923

Additions

-

105,925

-

541

106,466

Disposals

-

(43,408

)

-

-

(43,408

)

At 31 December 2018

47,397

234,831

46,350

4,403

332,981

DEPRECIATION

At 1 January 2018

43,371

76,494

19,341

1,717

140,923

Charge for year

202

11,627

6,751

230

18,810

Eliminated on disposal

-

(26,476

)

-

-

(26,476

)

At 31 December 2018

43,573

61,645

26,092

1,947

133,257

NET BOOK VALUE

At 31 December 2018

3,824

173,186

20,258

2,456

199,724

At 31 December 2017

4,026

95,820

27,009

2,145

129,000

5.

STOCKS

31.12.18

31.12.17

£

£

Stocks

41,565

36,142

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

167,518

150,074

Other debtors

6,066

1,878

173,584

151,952

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

15,017

12,944

Trade creditors

53,226

11,621

Taxation and social security

37,558

63,980

Other creditors

39,542

12,573

145,343

101,118

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

14,398

13,703

9.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet and due within one year is £43,500

(2017 - £18,500).