Arnold Building Services Limited - Accounts to registrar (filleted) - small 17.3
Arnold Building Services Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
| FOR |
| ARNOLD BUILDING SERVICES LIMITED |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 JUNE 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ARNOLD BUILDING SERVICES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 JUNE 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| and Statutory Auditor |
| 61 Queen Square |
| Bristol |
| BS1 4JZ |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| BALANCE SHEET |
| 30 JUNE 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| BALANCE SHEET - continued |
| 30 JUNE 2017 |
| 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. |
| 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 signed on its behalf by: |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 JUNE 2017 |
| 1. | STATUTORY INFORMATION |
| Arnold Building Services Limited is a |
| England and Wales. The company's registered number and registered office address can be |
| found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents revenue recognised by the company in respect of goods sold and |
| services supplied, excluding value added tax and trade discounts. |
| In respect of long term contracts and contracts for on-going services, turnover represents |
| the value of work done in the year, including estimates of amounts not invoiced. Turnover in |
| respect of long term contracts and contracts for on-going services is recognised by |
| reference to the stage of completion. |
| Tangible fixed assets |
| Leasehold improvements | - |
| Plant and machinery | - |
| Equipment, fixtures & fittings | - |
| Motor vehicles | - |
| 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. |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 JUNE 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over |
| the period of the lease. |
| Pension costs |
| 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. |
| Financial instruments |
| Financial assets and liabilities are recognised in the balance sheet when the company |
| becomes party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and are |
| measured on initial recognition at transaction price. Debtors and creditors are subsequently |
| measured at amortised cost using the effective interest rate method. A provision is |
| established when there is objective evidence that the company may not be able to collect all |
| amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash |
| in hand and at bank and bank overdrafts which are an integral part of the company's cash |
| management. |
| Financial liabilities and equity instruments issued by the company are classified in |
| accordance with the substance of the contractual arrangements entered into and the |
| definitions of a financial liability and an equity instrument. An equity instrument is any |
| contract that evidences a residual interest in the assets of the company after deducting all of |
| its liabilities. Equity instruments issued by the company are recorded at the proceeds |
| received, net of any direct issue costs. |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 JUNE 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Equipment, |
| Leasehold | Plant and | fixtures | Motor |
| improvements | machinery | & fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 July 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| Included within the net book value of £201,327 is £111,274 (2016 - £95,106) relating to |
| assets held under hire purchase agreements. The depreciation charged in the year in |
| respect of assets held under hire purchase agreements amounted to £39,406 (2016 - |
| £65,611). |
| 5. | STOCKS |
| 2017 | 2016 |
| £ | £ |
| Raw materials |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Corporation tax repayable |
| Prepayments and accrued income |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 JUNE 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Other loans (see note 9) |
| Hire purchase contracts |
| Trade creditors |
| Social security and other taxes |
| VAT | 8,812 | 40,237 |
| Directors' current accounts | 17,618 | 26,029 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other loans (see note 9) |
| Hire purchase contracts |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Amounts due under invoice |
| discounting | 6,268 | 44,027 |
| Other loan | 9,000 | 8,750 |
| Amounts falling due between two and five years: |
| Other loan | 16,250 | 25,500 |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 JUNE 2017 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 110,058 | 155,099 |
| Invoice discounting | 6,268 | 44,027 |
| The company's overdraft is secured by a debenture in favour of HSBC Bank plc |
| incorporating a fixed and floating charge over the assets of the company. The invoice |
| discounting facility is secured by a debenture in favour of HSBC Invoice Finance Limited |
| incorporating a fixed charge over the debtor book and a floating charge over the remaining |
| assets of the company. |
| The hire purchase liabilities of the company are secured on the assets to which they relate. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax |
| Excess of capital allowances |
| over depreciation | 23,845 | 18,724 |
| Tax losses | (4,181 | ) | (11,909 | ) |
| 19,664 | 6,815 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2016 |
| Profit and loss movement | 12,849 |
| Balance at 30 June 2017 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 10,000 | 10,000 |
| ARNOLD BUILDING SERVICES LIMITED (REGISTERED NUMBER: 02294733) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 JUNE 2017 |
| 13. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £5,000 were paid to the directors . |
| The company was under the control of M L S Arnold, the managing director and majority |
| shareholder, throughout the current and preceding year. |
| During the year, the company paid rent in respect of its offices to M L S Arnold and his wife, |
| totalling £18,000 (2016 - £18,000). |
| At 30 June 2017, M L S Arnold and his wife were owed £17,618 by the company (2016 - |
| £26,029 owed to the company). Interest of £2,180 was paid to M L S Arnold and his wife |
| during the year (2016 - £1,936). |
| The other loan of £25,250 is secured by a personal guarantee given by M L S Arnold. |
| 14. | FIRST YEAR ADOPTION |
| These financial statements for the year ended 30 June 2017 are the first financial |
| statements of the company prepared in accordance with FRS 102 Section 1A small entities. |
| The first date at which FRS 102 was applied, the date of transition, was 1 July 2015. |
| The transition to FRS 102 Section 1A has resulted in a small number of changes in |
| accounting policies to those used previously. The nature and impact of these changes have |
| not been material and as such the reported financial position and financial performance for |
| the previous period have not been restated for the effects of changes in accounting policy |
| arising from the adoption of the new financial reporting standard. |