ACCOUNTS - Final Accounts preparation

BIEL BROS LIMITED - Company Information

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Registered number: 10459510

BIEL BROS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2018

BIEL BROS LIMITED

REGISTERED NUMBER: 10459510

STATEMENT OF FINANCIAL POSITION

AS AT 30 NOVEMBER 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		171,409		28,819
			171,409		28,819
Current assets
Debtors: amounts falling due within one year	5	198,670		94,112
Bank and cash balances		34,342		1,401
		233,012		95,513
Creditors: amounts falling due within one year	6	(125,648)		(39,831)
Net current assets			107,364		55,682
Total assets less current liabilities			278,773		84,501

Net assets			278,773		84,501

Capital and reserves
Called up share capital	100	100
Profit and loss account	278,673	84,401
	278,773	84,501

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BIEL BROS LIMITED

REGISTERED NUMBER: 10459510

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 NOVEMBER 2018

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2019.

T Biel

Director

The notes on pages 3 to 5 form part of these financial statements.

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BIEL BROS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

1.	General information

Biel Bros Limited is a private company limited by shares incorporated in England and Wales. The principal place of business is The Bumbles, Devonshire Avenue, Amersham, Buckinghamshire, HP6 5JE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue comprises of services relating to the collection of non-hazardous waste and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Taxation

Tax is recognised in the statement of income and retained earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant and machinery	-	20%
				Computer equipment	-	20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

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BIEL BROS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

2.Accounting policies (continued)

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 3 (2017 - 3).

4.	Tangible fixed assets

	Plant and machinery	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 December 2017	35,500	524	36,024
Additions	159,230	1,383	160,613
At 30 November 2018	194,730	1,907	196,637
Depreciation
At 1 December 2017	7,100	105	7,205
Charge for the year on owned assets	17,683	340	18,023
At 30 November 2018	24,783	445	25,228
Net book value
At 30 November 2018	169,947	1,462	171,409
At 30 November 2017	28,400	419	28,819

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BIEL BROS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

Debtors

					2018	2017
					£	£


Trade debtors	190,346	94,012
Other debtors	8,324	100
	198,670	94,112

6.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Trade creditors	101,541	13,060
Corporation tax	12,271	13,295
Other taxation and social security	1,064	4,165
Other creditors	7,272	5,811
Accruals and deferred income	3,500	3,500
	125,648	39,831

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