Board and Elbow Ltd - Accounts

Board and Elbow Ltd - Accounts

BOARD AND ELBOW LTD - Company Information

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Registered Number: 05871024
England and Wales

 

 

 

BOARD AND ELBOW LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

Board and Elbow Ltd
Contents Page
For the year ended 31 December 2020
Directors Richard Griffiths
Ronald Hall
Julian Brownrigg
Registered Number 05871024
Registered Office 3 Portland Place
Penrith
Cumbria
CA11 7QN
Accountants Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
Secretary Richard Griffiths
1
The directors present their annual report and the financial statements for the year ended 31 December 2020
Principal activities
The companys principal activity during the year was the operation of a Public House
Directors
The directors who served the company throughout the year were as follows:
Richard Griffiths
Ronald Hall
Julian Brownrigg
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Richard Griffiths
Director

Date approved: 22 December 2021
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2020 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Shaun Brown Accountants Ltd
31 December 2020



....................................................
Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
22 December 2021
3
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 3 45,669    52,438 
45,669    52,438 
Current assets      
Stocks 4 13,460    18,270 
Debtors 5 11,887    9,860 
Cash at bank and in hand 7,982    22,316 
33,329    50,446 
Creditors: amount falling due within one year 6 (127,122)   (141,945)
Net current liabilities (93,793)   (91,499)
 
Total assets less current liabilities (48,124)   (39,061)
Net liabilities (48,124)   (39,061)
 

Capital and reserves 		     
Called up share capital 7 3    3 
Profit and loss account (48,127)   (39,064)
Shareholder's funds (48,124)   (39,061)
 


For the year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 December 2021 and were signed on its behalf by:


--------------------------------
Richard Griffiths
Director		--------------------------------
Julian Brownrigg
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2019 3  (22,303) (22,300)
Profit for the year (16,761) (16,761)
Total comprehensive income for the year -  (16,761) (16,761)
Total investments by and distributions to owners -  -  - 
At 31 December 2019 3  (39,064) (39,061)
At 01 January 2020 3  (39,064) (39,061)
Profit for the year (9,063) (9,063)
Total comprehensive income for the year -  (9,063) (9,063)
Total investments by and distributions to owners -  -  - 
At 31 December 2020 3  (48,127) (48,124)
5
General Information
Board and Elbow Ltd is a private company, limited by shares, registered in England and Wales, registration number 05871024, registration address 3 Portland Place, Penrith, Cumbria, CA11 7QN.

The presentation currency is £ sterling.
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)
Going concern basis
The directors believe that the company is well financed by their respective loan accounts which currently stands at £106,659. On this basis the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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 5% Straight Line
Plant and Machinery 15% Reducing Balance
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.

Average number of employees

Average number of employees during the year was 11 (2019 : 11).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 January 2020 43,925    78,386    122,311 
Additions -    -    - 
Disposals -    -    - 
At 31 December 2020 43,925    78,386    122,311 
Depreciation
At 01 January 2020 21,970    47,903    69,873 
Charge for year 2,197    4,572    6,769 
On disposals -    -    - 
At 31 December 2020 24,167    52,475    76,642 
Net book values
Closing balance as at 31 December 2020 19,758    25,911    45,669 
Opening balance as at 01 January 2020 21,955    30,483    52,438 


4.

Stocks

2020
£		   2019
£
Stocks 13,460    18,270 
13,460    18,270 

5.

Debtors: amounts falling due within one year

2020
£		   2019
£
Other Debtors 11,887    9,860 
11,887    9,860 

6.

Creditors: amount falling due within one year

2020
£		   2019
£
Trade Creditors 3,288    5,932 
PAYE & Social Security 1,843    4,654 
Accrued Expenses 3,700    1,820 
Other Creditors 2,869    7,180 
Directors' Current Accounts 110,659    106,659 
VAT 4,763    15,700 
127,122    141,945 

7.

Share Capital

Authorised
3 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2020
£		   2019
£
3 Ordinary shares of £1.00 each 3    3 
3    3 

8.

Related Party Disclosures

The Directors have funded the Company through their Directors Loan Accounts and will continue to provide support to the Company. The balance on the respective Loan Accounts at the 31st December 2020 was £110,659 ( 2019 - £106,659).
6