Vincent & Bamforth Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04948096 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2019

for

VINCENT & BAMFORTH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D K Vincent

S Vincent

A Bamforth

D Bamforth

SECRETARY:

D K Vincent

REGISTERED OFFICE:

10 Badminton Road

Downend

Bristol

BS16 6BQ

REGISTERED NUMBER:

04948096 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6 - 8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,164

3,744

Investments

6

436,441

410,554

439,605

414,298

CURRENT ASSETS

Debtors

7

63,839

38,979

Cash at bank and in hand

52,006

81,091

115,845

120,070

CREDITORS

Amounts falling due within one year

8

(67,338

)

(51,244

)

NET CURRENT ASSETS

48,507

68,826

TOTAL ASSETS LESS CURRENT LIABILITIES

488,112

483,124

PROVISIONS FOR LIABILITIES

(22,262

)

(16,624

)

NET ASSETS

465,850

466,500

CAPITAL AND RESERVES

Called up share capital

10

10

Fair value reserve

143,145

111,575

Retained earnings

322,695

354,915

465,850

466,500

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 2 October 2020 and were signed on its behalf by:

D Bamforth - Director

1.	COMPANY INFORMATION

Vincent & Bamforth 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 the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the directors

continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year ended 31

October 2019 and derives from the provision of services falling within the company's ordinary activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was 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.

Office equipment

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash

and bank balances, are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows

from the asset expire or are settled, or when the company transfers the financial asset and substantially all the

risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are

retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an

unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are

initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial

liabilities are derecognised when, and only when, the company's contractual obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

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.

Fixed asset investments

Fixed asset investments are initially measured at cost, and subsequently stated at cost less any accumulated

impairment losses. Listed investments are measured at fair value with changes in fair value being recognised

in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2018

and 31 October 2019

55,000

AMORTISATION

At 1 November 2018

and 31 October 2019

55,000

NET BOOK VALUE

At 31 October 2019

-

At 31 October 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

equipment

fittings

Totals

£

£

£

COST

At 1 November 2018

13,899

35,446

49,345

Additions

654

-

654

At 31 October 2019

14,553

35,446

49,999

DEPRECIATION

At 1 November 2018

11,326

34,275

45,601

Charge for year

942

292

1,234

At 31 October 2019

12,268

34,567

46,835

NET BOOK VALUE

At 31 October 2019

2,285

879

3,164

At 31 October 2018

2,573

1,171

3,744

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 November 2018

410,554

Revaluations

25,887

At 31 October 2019

436,441

NET BOOK VALUE

At 31 October 2019

436,441

At 31 October 2018

410,554

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

58,293

33,367

Other debtors

3,098

3,253

Prepayments and accrued income

2,448

2,359

63,839

38,979

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

11,274

5,706

Trade creditors

(1,072

)

5,137

Tax

13,397

-

VAT

22,943

19,017

Other creditors

62

41

Directors' current accounts

17,352

17,529

Accruals and deferred income

3,382

3,814

67,338

51,244

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

15,127

963

Between one and five years

27,675

-

42,802

963