| Brighton Electrical Assemblies Limited |
| Registered number: |
00717861 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 October 2013. |
|
| Principal activities |
| The company's principal activity during the year continued to be that of assembling electrical equipment, though work in this area has significantly been scaled down. The directors, wishing to diversify, have resolved that the company should buy land and/or buildings for construction or refurbishment for the purposes of sale. Land held for these purposes, together with the supplementary costs are included in stock at the year end date. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Linda Martin |
|
Allan Simson |
|
Doreen Simson |
|
| Political and charitable donations |
| There were no political or charitable donations during the year under review. |
|
| Directors' responsibilities |
| The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. |
|
| Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts 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 accounts 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 accounts, the directors are required to: |
| ● |
select suitable accounting policies and then apply them consistently; |
| ● |
make judgements and estimates that are reasonable and prudent; |
| ● |
prepare the accounts 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 are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts 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. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 1 July 2014 and signed on its behalf. |
|
|
|
|
| Linda Martin |
| Director |
|
| Brighton Electrical Assemblies Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Brighton Electrical Assemblies Limited for the year ended 31 October 2013 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Brighton Electrical Assemblies Limited for the year ended 31 October 2013 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| N Harris & Co |
| Chartered Accountants |
| 155-157a Clapham High Street |
| Jaybee House |
| London |
| SW4 7SS |
|
| 1 July 2014 |
|
| Brighton Electrical Assemblies Limited |
| Balance Sheet |
| as at 31 October 2013 |
|
| Notes |
|
|
2013 |
|
|
2012 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
334,801 |
|
|
351,772 |
| Investments |
5 |
|
|
2,686,045 |
|
|
2,625,209 |
|
|
|
|
3,020,846 |
|
|
2,976,981 |
|
| Current assets |
| Stocks |
|
|
1,020,638 |
|
|
873,850 |
| Debtors |
6 |
|
151,906 |
|
|
118,297 |
| Cash at bank and in hand |
|
|
732,978 |
|
|
793,385 |
|
|
|
1,905,522 |
|
|
1,785,532 |
|
| Creditors: amounts falling due within one year |
7 |
|
(70,653) |
|
|
(68,152) |
|
| Net current assets |
|
|
|
1,834,869 |
|
|
1,717,380 |
|
| Total assets less current liabilities |
|
|
|
4,855,715 |
|
|
4,694,361 |
|
|
| Provisions for liabilities |
8 |
|
|
- |
|
|
(465) |
|
|
| Net assets |
|
|
|
4,855,715 |
|
|
4,693,896 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
9 |
|
|
100 |
|
|
100 |
| Revaluation reserve |
10 |
|
|
283,829 |
|
|
283,829 |
| Profit and loss account |
11 |
|
|
4,571,786 |
|
|
4,409,967 |
|
| Shareholders' funds |
|
|
|
4,855,715 |
|
|
4,693,896 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| Linda Martin |
| Director |
| Approved by the board on 1 July 2014 |
|
| Brighton Electrical Assemblies Limited |
| Notes to the Accounts |
| for the year ended 31 October 2013 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Land and buildings |
2% on cost |
|
Plant and machinery |
25% reducing balance |
|
Fixtures, fittings and equipment |
15% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks and Work-in-progress |
|
Stock and work-in-progress are valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
| 2 |
Operating profit |
2013 |
|
2012 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
18,805 |
|
23,633 |
|
Directors' remuneration |
72,939 |
|
79,986 |
|
Pension costs |
5,585 |
|
5,585 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2013 |
|
2012 |
| £ |
£ |
|
|
UK corporation tax |
12,658 |
|
- |
|
Deferred tax |
15,816 |
|
- |
|
|
|
|
|
|
28,474 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 November 2012 |
424,720 |
|
275,149 |
|
91,598 |
|
791,467 |
|
Additions |
- |
|
1,833 |
|
- |
|
1,833 |
|
At 31 October 2013 |
424,720 |
|
276,982 |
|
91,598 |
|
793,300 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2012 |
119,708 |
|
256,915 |
|
63,071 |
|
439,694 |
|
Charge for the year |
8,500 |
|
3,174 |
|
7,131 |
|
18,805 |
|
At 31 October 2013 |
128,208 |
|
260,089 |
|
70,202 |
|
458,499 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2013 |
296,512 |
|
16,893 |
|
21,396 |
|
334,801 |
|
At 31 October 2012 |
305,012 |
|
18,234 |
|
28,526 |
|
351,772 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 November 2012 |
2,625,209 |
|
Additions |
249,776 |
|
Disposals |
(188,940) |
|
|
At 31 October 2013 |
2,686,045 |
|
|
|
|
|
|
|
|
|
|
Other investments |
2013 |
|
2012 |
| £ |
£ |
|
|
Listed investments |
2,686,045 |
|
2,625,209 |
|
|
|
|
|
|
|
|
|
|
Listed investments at market value |
3,119,752 |
|
2,649,866 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Debtors |
2013 |
|
2012 |
| £ |
£ |
|
|
Trade debtors |
121,884 |
|
78,421 |
|
Amounts recoverable on contract |
|
|
|
|
11,525 |
|
5,174 |
|
Other debtors and prepayments |
18,497 |
|
34,702 |
|
|
|
|
|
|
151,906 |
|
118,297 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2013 |
|
2012 |
| £ |
£ |
|
|
Trade creditors |
36,987 |
|
25,163 |
|
Corporation tax |
12,658 |
|
- |
|
Other taxes and social security costs |
8,366 |
|
17,201 |
|
Other creditors |
12,642 |
|
25,788 |
|
|
|
|
|
|
70,653 |
|
68,152 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Provisions for liabilities |
|
Deferred taxation: |
2013 |
|
2012 |
| £ |
£ |
|
|
Accelerated capital allowances |
- |
|
465 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013 |
|
2012 |
| £ |
£ |
|
|
At 1 November |
465 |
|
465 |
|
Deferred tax charge in profit and loss account |
(465) |
|
- |
|
|
At 31 October |
- |
|
465 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Share capital |
Nominal |
|
|
|
2013 |
|
2012 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Revaluation reserve |
2013 |
| £ |
|
|
At 1 November 2012 |
283,829 |
|
|
At 31 October 2013 |
283,829 |
|
|
|
|
|
|
|
|
| 11 |
Profit and loss account |
2013 |
| £ |
|
|
At 1 November 2012 |
4,409,967 |
|
Profit for the year |
161,819 |
|
|
At 31 October 2013 |
4,571,786 |
|
|
|
|
|
|
|
