Board and Elbow Ltd - Accounts

Board and Elbow Ltd - Accounts

BOARD AND ELBOW LTD - Company Information

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Registered Number: 05871024
England and Wales

 

 

 

BOARD AND ELBOW LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

Board and Elbow Ltd
Contents Page
For the year ended 31 December 2019
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2019 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Shaun Brown Accountants Ltd
31 December 2019



....................................................
Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
18 January 2021
1
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 52,438    53,936 
52,438    53,936 
Current assets      
Stocks 18,270    18,030 
Debtors 9,860    10,380 
Cash at bank and in hand 22,316    57,395 
50,446    85,805 
Creditors: amount falling due within one year (141,945)   (162,041)
Net current assets (91,499)   (76,236)
 
Total assets less current liabilities (39,061)   (22,300)
Net assets (39,061)   (22,300)
 

Capital and reserves 		     
Called up share capital 3 3    3 
Profit and loss account (39,064)   (22,303)
Shareholders funds (39,061)   (22,300)
 


For the year ended 31 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 18 January 2021 and were signed on its behalf by:


--------------------------------
Richard Griffiths
Director		--------------------------------
Julian Brownrigg
Director
2
General Information
Board and Elbow Ltd is a private company, limited by shares , registered in England and Wales , registration number 05871024 , registration address 3 Portland Place, Penrith, Cumbria, CA11 7QN.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is well financed by their respective loan accounts which currently stands at £106,659. On this basis the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 5% Straight Line
Plant and Machinery 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 January 2019 43,925    72,308    116,233 
Additions -    6,078    6,078 
Disposals -    -    - 
At 31 December 2019 43,925    78,386    122,311 
Depreciation
At 01 January 2019 19,773    42,524    62,297 
Charge for year 2,197    5,379    7,576 
On disposals -    -    - 
At 31 December 2019 21,970    47,903    69,873 
Net book values
Closing balance as at 31 December 2019 21,955    30,483    52,438 
Opening balance as at 01 January 2019 24,152    29,784    53,936 


3.

Share Capital

Authorised
3 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2019
£		   2018
£
3 Ordinary shares of £1.00 each 3    3 
3    3 

4.

Average number of employees

Average number of employees during the year was 11 (2018 : 11)
3