BAC Interiors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07166879 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2020

for

BAC Interiors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Jenkins

P Gillard

REGISTERED OFFICE:

7 Soundwell Road

Staple Hill

Bristol

Avon

BS16 4QG

REGISTERED NUMBER:

07166879 (England and Wales)

ACCOUNTANTS:

Norton Accountancy Ltd

7 Soundwell Road

Staple Hill

Bristol

BS16 4QG

FIXED ASSETS

Tangible assets

4

6,279

8,372

CURRENT ASSETS

Stocks

4,980

14,803

Debtors

5

113,641

123,909

Cash at bank and in hand

17,689

50,135

136,310

188,847

CREDITORS

Amounts falling due within one year

6

96,618

104,010

NET CURRENT ASSETS

39,692

84,837

TOTAL ASSETS LESS CURRENT LIABILITIES

45,971

93,209

CREDITORS

Amounts falling due after more than one year

7

(43,856

)

(65,209

)

PROVISIONS FOR LIABILITIES

(1,193

)

(1,590

)

NET ASSETS

922

26,410

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

822

26,310

922

26,410

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd March 2021 and were signed on its behalf by:

M D Jenkins - Director

1.	STATUTORY INFORMATION

BAC Interiors Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2019

and 31st March 2020

45,146

DEPRECIATION

At 1st April 2019

36,774

Charge for year

2,093

At 31st March 2020

38,867

NET BOOK VALUE

At 31st March 2020

6,279

At 31st March 2019

8,372

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

104,649

100,005

Other debtors

8,992

23,904

113,641

123,909

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

79,939

51,855

Taxation and social security

16,679

52,155

96,618

104,010

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Other creditors

43,856

65,209

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £31,320 (2019 - £64,800) were paid to the directors .