General Information
Butler Air Conditioning Limited is a private company, limited by shares , registered in England and Wales , registration number 05209014 , registration address 123 Argie Avenue, Leeds, West Yorkshire, LS4 2TG.
| 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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
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 |
25% |
| Plant and Machinery |
25% |
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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 etc |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 September 2019 |
57,000 |
|
134,025 |
|
191,025 |
| Additions |
0 |
|
0 |
|
- |
| Disposals |
0 |
|
0 |
|
- |
| At 31 August 2020 |
57,000 |
|
134,025 |
|
191,025 |
| Depreciation |
| At 01 September 2019 |
0 |
|
98,930 |
|
98,930 |
| Charge for year |
0 |
|
8,796 |
|
8,796 |
| On disposals |
0 |
|
0 |
|
- |
| At 31 August 2020 |
0 |
|
107,726 |
|
107,726 |
| Net book values |
| Closing balance as at 31 August 2020 |
57,000 |
|
26,299 |
|
83,299 |
| Opening balance as at 01 September 2019 |
57,000 |
|
35,095 |
|
92,095 |
The net book value of Motor Vehicles includes £15,886(2019 £21,648) in respect of assets leased under finance leases or hire purchase contracts.
|
| 3. |
Stocks
|
2020
£ |
|
2019
£ |
| Work in Progress |
26,000 |
|
41,611 |
|
26,000 |
|
41,611 |
|
| 4. |
Debtors: amounts falling due within one year
|
2020
£ |
|
2019
£ |
| Trade Debtors |
25,273 |
|
66,287 |
| Other Debtors |
4,776 |
|
250 |
|
30,049 |
|
66,537 |
|
| 5. |
Creditors: amount falling due within one year
|
2020
£ |
|
2019
£ |
| Trade Creditors |
2,395 |
|
11,516 |
| Bank Loans & Overdrafts |
50,000 |
|
3,785 |
| Taxation and Social Security |
30,440 |
|
61,224 |
| Other Creditors |
10,399 |
|
19,787 |
|
93,234 |
|
96,312 |
|
| 6. |
Provisions for liabilities
|
2020
£ |
|
2019
£ |
| Deferred Tax |
345 |
|
1,137 |
| Pension Provisions |
1,084 |
|
354 |
|
1,429 |
|
1,491 |
|
| 7. |
Average number of employees
Average number of employees during the year was 4 (2019 : 4)
|
3
|
