BETTS HOME IMPROVEMENTS LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07117577 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2020

FOR

BETTS HOME IMPROVEMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L G D Betts

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

07117577 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

7,927

9,375

CURRENT ASSETS

Debtors

5

15,096

14,429

Cash at bank

1,969

657

17,065

15,086

CREDITORS

Amounts falling due within one year

6

14,153

15,689

NET CURRENT ASSETS/(LIABILITIES)

2,912

(603

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,839

8,772

CREDITORS

Amounts falling due after more than one year

7

2,497

6,242

NET ASSETS

8,342

2,530

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,242

2,430

SHAREHOLDERS' FUNDS

8,342

2,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 10 June 2020 and were signed by:

L G D Betts - Director

1.	STATUTORY INFORMATION

Betts Home Improvements 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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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.

Tools & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Tools &

Motor

equipment

vehicles

Totals

£

£

£

COST

At 6 April 2019

1,685

20,097

21,782

Additions

1,064

-

1,064

At 5 April 2020

2,749

20,097

22,846

DEPRECIATION

At 6 April 2019

788

11,619

12,407

Charge for year

392

2,120

2,512

At 5 April 2020

1,180

13,739

14,919

NET BOOK VALUE

At 5 April 2020

1,569

6,358

7,927

At 5 April 2019

897

8,478

9,375

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 6 April 2019

and 5 April 2020

20,097

DEPRECIATION

At 6 April 2019

11,619

Charge for year

2,120

At 5 April 2020

13,739

NET BOOK VALUE

At 5 April 2020

6,358

At 5 April 2019

8,478

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

14,972

13,579

VAT

124

850

15,096

14,429

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

3,745

3,745

Tax

8,271

7,442

Social security and other taxes

-

951

Directors' current accounts

1,287

2,701

Accrued expenses

850

850

14,153

15,689

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

2,497

6,242

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

6,242

9,987

The Hire purchase contract is secured against the company's motor vehicle.