Bradbury Electrical Contractors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08765176

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

BRADBURY ELECTRICAL CONTRACTORS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Bradbury

Mrs M Bradbury

B Bradbury

REGISTERED OFFICE:

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

REGISTERED NUMBER:

08765176

ACCOUNTANTS:

Cardens Accountants LLP

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Intangible assets

3

4,000

5,000

Tangible assets

4

18,160

22,878

22,160

27,878

CURRENT ASSETS

Debtors

5

253,613

142,608

Cash at bank and in hand

8,802

33,735

262,415

176,343

CREDITORS

Amounts falling due within one year

6

238,839

141,535

NET CURRENT ASSETS

23,576

34,808

TOTAL ASSETS LESS CURRENT LIABILITIES

45,736

62,686

CREDITORS

Amounts falling due after more than one year

7

(13,477

)

(19,705

)

PROVISIONS FOR LIABILITIES

(3,450

)

(4,347

)

NET ASSETS

28,809

38,634

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

28,808

38,633

SHAREHOLDERS' FUNDS

28,809

38,634

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 and authorised for issue on 27 August 2020 and were signed on its behalf by:

A J Bradbury - Director

1.	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 sales of services net of VAT. Turnover is recognised at the point the customer is entitled to

consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 8 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2018

and 30 November 2019

10,000

AMORTISATION

At 1 December 2018

5,000

Amortisation for year

1,000

At 30 November 2019

6,000

NET BOOK VALUE

At 30 November 2019

4,000

At 30 November 2018

5,000

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 December 2018

2,308

29,740

1,804

33,852

Additions

-

2,850

-

2,850

Disposals

(2,308

)

-

(878

)

(3,186

)

At 30 November 2019

-

32,590

926

33,516

DEPRECIATION

At 1 December 2018

1,689

8,375

910

10,974

Charge for year

-

6,055

308

6,363

Eliminated on disposal

(1,689

)

-

(292

)

(1,981

)

At 30 November 2019

-

14,430

926

15,356

NET BOOK VALUE

At 30 November 2019

-

18,160

-

18,160

At 30 November 2018

619

21,365

894

22,878

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

Motor

vehicles

£

COST

At 1 December 2018

and 30 November 2019

27,290

DEPRECIATION

At 1 December 2018

6,823

Charge for year

5,117

At 30 November 2019

11,940

NET BOOK VALUE

At 30 November 2019

15,350

At 30 November 2018

20,467

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

184,673

76,723

Amounts owed by group undertakings

49,954

49,454

Other debtors

1,900

2,900

CIS

16,778

13,531

Accruals

308

-

253,613

142,608

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

6,229

6,229

Trade creditors

98,461

54,815

Tax

46,563

26,483

Social security and other taxes

19,478

(355

)

VAT

32,345

11,356

Other creditors

28,600

33,000

Net wages

5,312

8,256

Directors' loan accounts

101

-

Accrued expenses

1,750

1,751

238,839

141,535

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

13,477

19,705

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, A Bradbury decreased his loan to the company. As at 30 November 2019, the company owed

him £101. (2018: £Nil). This balance represented the maximum amount outstanding during the year and the loan

is interest free and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A J Bradbury.

This was by virtue of his 100% holding of the issued share capital.