Boulton Plastering Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07184302 (England and Wales)

Boulton Plastering Limited

Unaudited Financial Statements for the Year Ended 31 March 2017

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P D Boulton

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

07184302 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

FIXED ASSETS

Intangible assets

5

24,000

32,000

Tangible assets

6

17,784

25,230

41,784

57,230

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

78,276

138,970

Cash at bank

36,817

25,910

116,093

165,880

CREDITORS

Amounts falling due within one year

88,021

125,450

NET CURRENT ASSETS

28,072

40,430

TOTAL ASSETS LESS CURRENT LIABILITIES

69,856

97,660

CREDITORS

Amounts falling due after more than one year

(2,363

)

(5,491

)

PROVISIONS FOR LIABILITIES

7

(3,379

)

(4,989

)

NET ASSETS

64,114

87,180

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

64,113

87,179

SHAREHOLDERS' FUNDS

64,114

87,180

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 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 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 director on 28 December 2017 and were signed by:

P D Boulton - Director

1.	STATUTORY INFORMATION

Boulton Plastering 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared using the historical cost convention.

These financial statements have been prepared in accordance with FRS 102.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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.

Plant and machinery

-

33% on reducing balance

Motor vehicles

-

33% on reducing balance and 25% on 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.

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 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 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

80,000

AMORTISATION

At 1 April 2016

48,000

Amortisation for year

8,000

At 31 March 2017

56,000

NET BOOK VALUE

At 31 March 2017

24,000

At 31 March 2016

32,000

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

64,449

DEPRECIATION

At 1 April 2016

39,219

Charge for year

7,446

At 31 March 2017

46,665

NET BOOK VALUE

At 31 March 2017

17,784

At 31 March 2016

25,230

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

Totals

£

COST

At 1 April 2016

and 31 March 2017

10,790

DEPRECIATION

At 1 April 2016

3,561

Charge for year

2,386

At 31 March 2017

5,947

NET BOOK VALUE

At 31 March 2017

4,843

At 31 March 2016

7,229

7.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

3,379

4,989

Deferred

tax

£

Balance at 1 April 2016

4,989

Provided during year

(1,610

)

Balance at 31 March 2017

3,379

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

1

Ordinary

£1

1

1

9.	ULTIMATE CONTROLLING PARTY

The controlling party is P D Boulton.

The company was controlled throughout the current and previous period by its director, by virtue of the fact that

he holds the only share issued by the company.