'Building' Integrated Services Limited - Accounts to registrar - small 17.2

'BUILDING' INTEGRATED SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J Tull

G J Edmonds

J Gough

G Hill

Mrs M J Tull

SECRETARY:

Mrs M J Tull

REGISTERED OFFICE:

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

REGISTERED NUMBER:

07835499 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

FIXED ASSETS

Tangible assets

4

34,290

37,683

CURRENT ASSETS

Debtors

5

761,514

690,018

Cash at bank and in hand

363,768

213,289

1,125,282

903,307

CREDITORS

Amounts falling due within one year

6

585,315

601,796

NET CURRENT ASSETS

539,967

301,511

TOTAL ASSETS LESS CURRENT LIABILITIES

574,257

339,194

CREDITORS

Amounts falling due after more than one year

7

(12,435

)

(17,522

)

PROVISIONS FOR LIABILITIES

8

(6,858

)

(7,537

)

NET ASSETS

554,964

314,135

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

10

554,764

313,935

SHAREHOLDERS' FUNDS

554,964

314,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 1 June 2017 and were signed on its behalf by:

A J Tull - Director

1.	STATUTORY INFORMATION

'Building' Integrated Services 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, adjusting for work in progress.

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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.3% 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.

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.

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 profit or loss in the period to which they relate.

Long term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with

reasonable certainty. The profit included in calculated on a prudent basis to reflect the proportion of the work

carried out at the year end, by recording turnover and related costs (as defined in stocks above) as contract

activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date

bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only

when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in

which they are first forseen.

Frs 102 transition

These financial statements are the first financial statements of Building Integrated Services Ltd prepared in

accordance with Financial Reporting Standard 102 (section 1A) 'The Financial Reporting Standard applicable in

the UK and Republic of Ireland' (FRS 102 1A). The financial statements of Building Integrated Services Ltd for

the year ended 31 March 2016 were prepared in accordance with the Financial Reporting Standard for Smaller

Entities April 2008. The transition date to FRS 102 1A is 1 April 2015.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting

policy choices differ from the Financial Reporting Standard for Smaller Entities April 2008. Consequently, the

directors have amended certain accounting policies to comply with FRS 102 1A. The directors have also taken

advantage of certain exemptions from the requirements of FRS 102 1A permitted by FRS 102 Chapter 35

'Transition to this FRS'.

It has not been necessary to restate the comparative figures as the directors have taken advantage of

exemptions of retrospective application of FRS 102 1A permitted by FRS 102 Chapter 35 'Transition to this FRS'.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

4,067

49,292

5,721

59,080

Additions

399

7,499

1,733

9,631

At 31 March 2017

4,466

56,791

7,454

68,711

DEPRECIATION

At 1 April 2016

1,129

16,635

3,633

21,397

Charge for year

500

10,039

2,485

13,024

At 31 March 2017

1,629

26,674

6,118

34,421

NET BOOK VALUE

At 31 March 2017

2,837

30,117

1,336

34,290

At 31 March 2016

2,938

32,657

2,088

37,683

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

Motor

vehicles

£

COST

At 1 April 2016

42,292

Additions

7,499

At 31 March 2017

49,791

DEPRECIATION

At 1 April 2016

13,572

Charge for year

9,055

At 31 March 2017

22,627

NET BOOK VALUE

At 31 March 2017

27,164

At 31 March 2016

28,720

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

734,547

690,018

Other debtors

26,967

-

761,514

690,018

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

9,531

7,864

Trade creditors

260,495

304,861

Taxation and social security

161,183

176,155

Other creditors

154,106

112,916

585,315

601,796

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

12,435

17,522

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

6,858

7,537

Deferred

tax

£

Balance at 1 April 2016

7,537

Accelerated capital allowances

(679

)

Balance at 31 March 2017

6,858

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

96

Ordinary A

£1

96

110

36

Ordinary B

£1

36

50

28

Ordinary C

£1

28

40

20

Ordinary D

£1

20

-

20

Ordinary E

£1

20

-

200

200

Allotted and issued:

Number:

Class:

Nominal

2017

2016

value:

£

£

20

Ordinary D

£1

20

-

20

Ordinary E

£1

20

-

40

-

10.

RESERVES

Retained

earnings

£

At 1 April 2016

313,935

Profit for the year

420,529

Dividends

(179,700

)

At 31 March 2017

554,764

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

A J Tull

Balance outstanding at start of year

(22,688

)

(56,479

)

Amounts advanced

79,697

101,195

Amounts repaid

(40,630

)

(67,404

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,379

(22,688

)

Mrs M J Tull

Balance outstanding at start of year

-

-

Amounts advanced

40,122

-

Amounts repaid

(36,148

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,974

-

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £179,700 (2016 - £63,220) were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is director, A J Tull.