Bridgecraft Upholstery Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08635024 (England and Wales)

Financial Statements

for the Year Ended 31 August 2020

for

Bridgecraft Upholstery Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Bullivant

M P Botham

REGISTERED OFFICE:

Unit 4, Meadow Lane Industrial Estate

Meadow Lane

Long Eaton

Nottingham

NG10 2FE

REGISTERED NUMBER:

08635024 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

4

8,987

9,438

CURRENT ASSETS

Stocks

850

-

Debtors

5

42,342

91,104

Cash at bank

10,621

16,895

53,813

107,999

CREDITORS

Amounts falling due within one year

6

48,331

81,056

NET CURRENT ASSETS

5,482

26,943

TOTAL ASSETS LESS CURRENT LIABILITIES

14,469

36,381

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

14,467

36,379

SHAREHOLDERS' FUNDS

14,469

36,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 by the Board of Directors and authorised for issue on 31 January 2021 and were signed on its behalf by:

A M Bullivant - Director

1.	STATUTORY INFORMATION

Bridgecraft Upholstery 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 the invoiced sales of goods and services, excluding value added tax, including, where applicable, relevant costs and overheads plus attributable profit to date recoverable on contracts.

Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the agreed upon payment will be received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Grants

Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute. Capital grants are recognised systematically in the profit and loss account over the useful economic life of the asset to which the grant relates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Equipment

vehicles

Totals

£

£

£

COST

At 1 September 2019

and 31 August 2020

2,879

8,000

10,879

DEPRECIATION

At 1 September 2019

854

587

1,441

Charge for year

304

147

451

At 31 August 2020

1,158

734

1,892

NET BOOK VALUE

At 31 August 2020

1,721

7,266

8,987

At 31 August 2019

2,025

7,413

9,438

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

34,848

85,773

Amounts recoverable on contract

3,065

3,420

Other debtors

3,532

1,300

Prepayments

897

611

42,342

91,104

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

12,444

34,061

Tax

15,313

27,790

Social security and other taxes

18,466

15,273

Other creditors

155

234

Directors' current accounts

251

1,953

Accrued expenses

1,702

1,745

48,331

81,056