Badgefleet Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02482915 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

BADGEFLEET LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C W Dale

W Rogers

G Rogers

SECRETARY:

W Rogers

REGISTERED OFFICE:

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

REGISTERED NUMBER:

02482915 (England and Wales)

ACCOUNTANTS:

Baverstocks

Chartered Accountants

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

BANKERS:

Barclays Bank Plc

60 High Street

Maldon

Essex

CM9 5PR

FIXED ASSETS

Tangible assets

4

3,636,037

3,383,288

Investment property

5

190,000

178,000

3,826,037

3,561,288

CURRENT ASSETS

Stocks

175,434

150,153

Debtors

522,349

452,126

Cash at bank and in hand

190,272

416,187

888,055

1,018,466

CREDITORS

Amounts falling due within one year

397,192

565,672

NET CURRENT ASSETS

490,863

452,794

TOTAL ASSETS LESS CURRENT LIABILITIES

4,316,900

4,014,082

CREDITORS

Amounts falling due after more than one year

6

(259,011

)

(337,342

)

PROVISIONS FOR LIABILITIES

(185,154

)

(197,430

)

NET ASSETS

3,872,735

3,479,310

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Non distributable reserve

8

31,800

22,080

Retained earnings

3,830,935

3,447,230

SHAREHOLDERS' FUNDS

3,872,735

3,479,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 August 2017 and were signed on its behalf by:

C W Dale - Director

1.	STATUTORY INFORMATION

Badgefleet 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of hire of plant, excluding value added tax.

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.

Freehold Property

-

2% on cost

Plant and Machinery

-

10 - 33% on cost

Fixtures and Fittings

-

15% on reducing balance

Motor Vehicles

-

20% on cost

Office Equipment

-

10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2016

7,001,653

Additions

982,351

Disposals

(305,964

)

At 30 April 2017

7,678,040

DEPRECIATION

At 1 May 2016

3,618,365

Charge for year

710,036

Eliminated on disposal

(286,398

)

At 30 April 2017

4,042,003

NET BOOK VALUE

At 30 April 2017

3,636,037

At 30 April 2016

3,383,288

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

Totals

£

COST

At 1 May 2016

397,350

Transfer to ownership

(397,350

)

At 30 April 2017

-

DEPRECIATION

At 1 May 2016

79,470

Charge for year

10,520

Transfer to ownership

(89,990

)

At 30 April 2017

-

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

317,880

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

178,000

Revaluations

12,000

At 30 April 2017

190,000

NET BOOK VALUE

At 30 April 2017

190,000

At 30 April 2016

178,000

Cost or valuation at 30 April 2017 is represented by:

£

Valuation in 2011

(16,000

)

Valuation in 2014

43,260

Valuation in 2017

12,000

Cost

150,740

190,000

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank Loans

-

18,597

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

336,923

414,090

Hire purchase contracts

-

47,490

336,923

461,580

8.

RESERVES

Non

distributable

reserve

£

At 1 May 2016

22,080

Transfer of revaluation

9,720

At 30 April 2017

31,800

9.	RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £16,091 (2016: £13,361) was due to a partnership in which the Directors

have an interest.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is C W Dale.

11.	FIRST YEAR ADOPTION

The comparatives have been amended at 1 May 2015 and 30 April 2016 for the deferred taxation on the

revaluation of the investment properties. This has resulted in a reduction of the non distributable reserve at 1

May 2015 and 30 April 2016 of £5,179.