Boulder Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03479247 (England and Wales)

BOULDER DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

W Bown

C W Bown

Mrs A R Bown

SECRETARY:

C W Bown

REGISTERED OFFICE:

Blackhorse Farm

Main Street

Norwell

Newark

Nottinghamshire

NG23 6JN

REGISTERED NUMBER:

03479247 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

51,516

61,619

CURRENT ASSETS

Stocks

602,316

444,006

Debtors

5

790,044

261,867

Cash at bank

78,908

480,282

1,471,268

1,186,155

CREDITORS

Amounts falling due within one year

6

638,996

406,815

NET CURRENT ASSETS

832,272

779,340

TOTAL ASSETS LESS CURRENT LIABILITIES

883,788

840,959

PROVISIONS FOR LIABILITIES

8,758

11,708

NET ASSETS

875,030

829,251

CAPITAL AND RESERVES

Called up share capital

9

500,001

500,001

Retained earnings

375,029

329,250

SHAREHOLDERS' FUNDS

875,030

829,251

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 and authorised for issue by the Board of Directors on 21 February 2020 and were signed on its behalf by:

C W Bown - Director

1.	STATUTORY INFORMATION

Boulder Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and

provision of services in the ordinary course of the company's activities. Turnover is shown net of value added

tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measure;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

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

-

25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is

determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct

labour costs and those overheads that have been incurred in bringing the inventories to their present location

and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying

amount is reduced to selling price less costs to complete and sell; the impairment loss is recognised

immediately on the income statement.s.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as

operating leases. Payments made under operating leases are charged to the income statement 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 the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2018

94,607

Additions

8,636

Disposals

(16,999

)

At 31 May 2019

86,244

DEPRECIATION

At 1 June 2018

32,988

Charge for year

18,739

Eliminated on disposal

(16,999

)

At 31 May 2019

34,728

NET BOOK VALUE

At 31 May 2019

51,516

At 31 May 2018

61,619

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

265,999

202,694

Amounts owed by group undertakings

447,381

-

Other debtors

76,664

59,173

790,044

261,867

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

74,076

-

Trade creditors

73,264

112,394

Taxation and social security

121,134

41,613

Other creditors

370,522

252,808

638,996

406,815

7.	LEASING AGREEMENTS

As at the balance sheet date, the company had total commitments under non-cancellable operating leases

over the remaining terms of those leases of £17,432 (2018: £330,864).

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

74,076

-

A fixed and floating charge is held over all assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

500,001

Ordinary

£1

500,001

500,001