Broseley London Contractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07966325 (England and Wales)

BROSELEY LONDON CONTRACTORS LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T H Thursfield

Mrs S A Thursfield

J H Thursfield

REGISTERED OFFICE:

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

REGISTERED NUMBER:

07966325 (England and Wales)

ACCOUNTANTS:

Tudor John Limited

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

CURRENT ASSETS

Debtors

4

203,046

356,571

Cash at bank

62

3,588

203,108

360,159

CREDITORS

Amounts falling due within one year

5

1,918,686

1,467,619

NET CURRENT LIABILITIES

(1,715,578

)

(1,107,460

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,715,578

)

(1,107,460

)

CREDITORS

Amounts falling due after more than one year

6

-

430,000

NET LIABILITIES

(1,715,578

)

(1,537,460

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,715,678

)

(1,537,560

)

SHAREHOLDERS' FUNDS

(1,715,578

)

(1,537,460

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 8 November 2019 and were signed on its behalf by:

T H Thursfield - Director

1.	STATUTORY INFORMATION

Broseley London Contractors 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 AND GOING CONCERN

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 Sterling which is the functional currency of the company.

The company has net liabilities and net current liabilities of £1,715,578 at the year-end. The directors consider

that it is appropriate to prepare the accounts on a going concern basis as they have undertaken to continue to

provide financial support for the company as required for a period of at least twelve months from the date of

approval of these accounts.

TURNOVER

Turnover represents the fair value of consideration received or receivable in respect of goods and services

supplied, excluding value added tax. Revenue is recognised on completion of a contract, or part-completion

where the outcome of the contract can be estimated reliably, in which case contract revenue and contract costs

associated with the contract are recognised as revenue and expenses respectively by reference to the stage of

completion of the contract activity at the end of the reporting period. Any foreseeable losses on contracts are

recognised immediately.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 2 (2018 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

113,149

123,219

Amounts recoverable on contract

89,897

228,266

Other debtors

-

5,086

203,046

356,571

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

38,914

196,443

Trade creditors

361,098

361,881

Taxation and social security

1,950

19,748

Other creditors

1,516,724

889,547

1,918,686

1,467,619

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

-

430,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

38,914

196,443

The bank overdraft is secured by fixed and floating charges over the whole assets of the company.