JF Bodman Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07749372 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2020

for

JF Bodman Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Bodman

A P Webb

REGISTERED OFFICE:

Unit 7 Guildhall Industrial Estate

Sandall Stones Road

Kirk Sandall

Doncaster

South Yorkshire

DN3 1QR

REGISTERED NUMBER:

07749372 (England and Wales)

ACCOUNTANT:

PKN Accountants Ltd

Chartered Accountants

63 Bawtry Road

Bramley

Rotherham

South Yorkshire

S66 2TN

FIXED ASSETS

Tangible assets

4

42,562

55,403

CURRENT ASSETS

Stocks

36,594

47,071

Debtors

5

79,693

100,294

Cash at bank and in hand

37,207

40,674

153,494

188,039

CREDITORS

Amounts falling due within one year

6

76,633

77,010

NET CURRENT ASSETS

76,861

111,029

TOTAL ASSETS LESS CURRENT LIABILITIES

119,423

166,432

CREDITORS

Amounts falling due after more than one year

7

(31,059

)

(16,002

)

PROVISIONS FOR LIABILITIES

(4,275

)

(6,472

)

NET ASSETS

84,089

143,958

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

83,889

143,758

SHAREHOLDERS' FUNDS

84,089

143,958

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2021 and were signed on its behalf by:

Mrs N Bodman - Director

A P Webb - Director

1.	STATUTORY INFORMATION

JF Bodman 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

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

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 makes employer contributions in accordance with auto enrolment legislation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2019

102,587

Additions

1,189

At 31 August 2020

103,776

DEPRECIATION

At 1 September 2019

47,184

Charge for year

14,030

At 31 August 2020

61,214

NET BOOK VALUE

At 31 August 2020

42,562

At 31 August 2019

55,403

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2019

and 31 August 2020

68,918

DEPRECIATION

At 1 September 2019

25,262

Charge for year

10,914

At 31 August 2020

36,176

NET BOOK VALUE

At 31 August 2020

32,742

At 31 August 2019

43,656

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

63,070

90,387

Other debtors

16,623

9,907

79,693

100,294

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

2,000

-

Hire purchase contracts

12,878

16,122

Trade creditors

47,689

42,960

Taxation and social security

2,027

16,680

Other creditors

12,039

1,248

76,633

77,010

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

28,000

-

Hire purchase contracts

3,059

16,002

31,059

16,002

2020

2019

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,000

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

15,937

32,124

9.	RELATED PARTY DISCLOSURES

Mrs N Bodman (director)

The above loaned monies on an interest free basis to the company repayable on demand. The amount owing at 31st August 2020: £1,142, (2019: £1,142). This is reflected in other creditors.