Bill & Sue Ferguson Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04880543 (England and Wales)

BILL & SUE FERGUSON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S J Ferguson

W F Ferguson

SECRETARY:

Mrs S J Ferguson

REGISTERED OFFICE:

2 St Benets Court

Tenterden

Kent

TN30 6QS

REGISTERED NUMBER:

04880543 (England and Wales)

ACCOUNTANTS:

Busbys

Chartered Accountants

Unit 7

Pickhill Business Centre

Smallhythe Road

Tenterden

Kent

TN30 7LZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,284

3,148

5,284

3,148

CURRENT ASSETS

Debtors

6

1,020

1,035

Cash at bank

114,270

109,108

115,290

110,143

CREDITORS

Amounts falling due within one year

7

7,241

11,326

NET CURRENT ASSETS

108,049

98,817

TOTAL ASSETS LESS CURRENT LIABILITIES

113,333

101,965

PROVISIONS FOR LIABILITIES

1,004

598

NET ASSETS

112,329

101,367

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

112,229

101,267

SHAREHOLDERS' FUNDS

112,329

101,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 4 May 2021 and were signed on its behalf by:

Mrs S J Ferguson - Director

W F Ferguson - Director

1.	STATUTORY INFORMATION

Bill & Sue Ferguson 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 provision of services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was being amortised evenly over its estimated useful life of 15 years. In anticipation of new accounting rules, the balance of goodwill at 1 October 2013 was being amortised evenly over 4 years and was fully amortised in the year ended 30 September 2017.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2019

and 30 September 2020

41,866

AMORTISATION

At 1 October 2019

and 30 September 2020

41,866

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2019

5,464

13,514

10,126

29,104

Additions

-

477

4,395

4,872

Disposals

-

(499

)

(1,677

)

(2,176

)

At 30 September 2020

5,464

13,492

12,844

31,800

DEPRECIATION

At 1 October 2019

4,740

12,425

8,791

25,956

Charge for year

182

390

2,155

2,727

Eliminated on disposal

-

(490

)

(1,677

)

(2,167

)

At 30 September 2020

4,922

12,325

9,269

26,516

NET BOOK VALUE

At 30 September 2020

542

1,167

3,575

5,284

At 30 September 2019

724

1,089

1,335

3,148

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Sundry debtors

1,020

1,035

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Taxation and social security

3,481

7,791

Other creditors

3,760

3,535

7,241

11,326

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.20

30.9.19

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

Other creditors includes a loan from the directors of £413 (2019 : £288).

10.	GOING CONCERN

The directors have considered the effect of the Covid-19 outbreak on the company's activities. The outbreak has caused some disruption to the company's business. Due to the prolonged outbreak, the directors anticipate that some disruption may continue, but the extent and quantum of any continuing disruption still remains uncertain. However, the company has ample reserves and cash to maintain liquidity and solvency.

Thus, the directors consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

11.	GOVERNMENT GRANT

During the period, the company received the following grant:

Government grant

£10,000

The government is unconditional and has been accounted for on the accruals basis.