B Feltham (Maintenance) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00821192 (England and Wales)

B FELTHAM (MAINTENANCE) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D Feltham

REGISTERED OFFICE:

The Exchange

5 Bank Street

Bury

BL9 0DN

REGISTERED NUMBER:

00821192 (England and Wales)

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

FIXED ASSETS

Property, plant and equipment

4

25,102

33,149

CURRENT ASSETS

Inventories

30,000

35,000

Debtors

5

439,495

487,412

469,495

522,412

CREDITORS

Amounts falling due within one year

6

(1,018,721

)

(1,032,843

)

NET CURRENT LIABILITIES

(549,226

)

(510,431

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(524,124

)

(477,282

)

CREDITORS

Amounts falling due after more than one year

7

(47,968

)

(50,000

)

NET LIABILITIES

(572,092

)

(527,282

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(572,094

)

(527,284

)

SHAREHOLDERS' FUNDS

(572,092

)

(527,282

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 17 June 2022 and were signed by:

D Feltham - Director

1.	STATUTORY INFORMATION

B Feltham (Maintenance) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00821192 and its registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN.

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.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has the continued support of other companies within the group. As such, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

The director has considered the impact of the global Covid-19 pandemic on the company and recognises that the future cannot be predicted with any certainty. Procedures have been introduced to ensure that operations are conducted in accordance with official government advice as the company continues to trade. The director will endeavour to monitor and control costs as necessary.

Critical accounting estimates and judgements

In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

There are no estimates and assumptions which have a significant risk that are considered to be material.

Revenue

Revenue comprises the aggregate of the fair value of services provided, net of value-added tax, rebates and discounts. Service revenues are recognised as those services are provided to customers.

Property plant and equipment

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

-

25% on cost, 25% on reducing balance and 15% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102.

During the year the company has benefitted from the Government Coronavirus Job Retention Scheme ('Furlough'). Furlough income has been recognised in "other income" in the same period as the related wage costs.

Inventories

Inventories 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 inventories to their present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 and finance leases are capitalised as property, plant and equipment and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals paid under operating leases are charged to the income statement as incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2020 - 8 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

144,921

DEPRECIATION

At 1 July 2020

111,772

Charge for year

8,047

At 30 June 2021

119,819

NET BOOK VALUE

At 30 June 2021

25,102

At 30 June 2020

33,149

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

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

32,965

DEPRECIATION

At 1 July 2020

8,241

Charge for year

6,181

At 30 June 2021

14,422

NET BOOK VALUE

At 30 June 2021

18,543

At 30 June 2020

24,724

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

264,474

259,092

Other debtors

175,021

228,320

439,495

487,412

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

54,692

5,797

Hire purchase contracts

7,070

22,107

Trade creditors

56,066

58,763

Taxation and social security

5,962

14,483

Other creditors

894,931

931,693

1,018,721

1,032,843

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

40,000

50,000

Hire purchase contracts

7,968

-

47,968

50,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

16,667

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

50,000

-

Hire purchase contracts

15,038

22,107

65,038

22,107

The hire purchase contracts are secured against the related assets.

9.	RELATED PARTY DISCLOSURES

Included within other creditors are amounts totalling £885,366 (2020 : £928,293) due to related companies.

Included within other debtors are amounts totalling £168,026 (2020 : £79,851) due from related companies.

Included within trade debtors are amounts totalling £226,938 (2020 : £236,189) due from related companies.