Burns Interior Design Ltd - Accounts to registrar (filleted) - small 17.3

Burns Interior Design Ltd - Accounts to registrar (filleted) - small 17.3

BID REALISATIONS LIMITED - Company Information

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REGISTERED NUMBER: SC409523 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2017

for

Burns Interior Design Ltd
Burns Interior Design Ltd (Registered number: SC409523)






Contents of the Financial Statements
for the Year Ended 30 September 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Burns Interior Design Ltd

Company Information
for the Year Ended 30 September 2017







DIRECTORS: R P Burns
P M McLaughlin
S Paterson





REGISTERED OFFICE: McLay, McAlister & McGibbon LLP
145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC409523 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF
Page 1
Burns Interior Design Ltd (Registered number: SC409523)

Balance Sheet
30 September 2017

30.9.17 30.9.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,172 6,997

CURRENT ASSETS
Stocks 109,755 75,000
Debtors 5 139,096 109,122
Cash in hand 100 100
248,951 184,222
CREDITORS
Amounts falling due within one year 6 221,617 185,987
NET CURRENT ASSETS/(LIABILITIES) 27,334 (1,765 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
35,506
5,232

PROVISIONS FOR LIABILITIES 1,553 1,399
NET ASSETS 33,953 3,833

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 33,853 3,733
SHAREHOLDERS' FUNDS 33,953 3,833

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 6 March 2018 and were signed on its behalf by:



R P Burns - Director


The notes form part of these financial statements

Page 2
Burns Interior Design Ltd (Registered number: SC409523)

Notes to the Financial Statements
for the Year Ended 30 September 2017

1. STATUTORY INFORMATION

Burns Interior Design Ltd is a private company, limited by shares , registered in Scotland. 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.

Transition to FRS 102
The financial statements for the year ended 30 September 2017 are the first financial statements that comply with
FRS 102 Section 1A small entities. The date of transition is 1 October 2015. There has been no material impact
on the financial statements following this transition.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

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

Page 3 continued...
Burns Interior Design Ltd (Registered number: SC409523)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

2. ACCOUNTING POLICIES - continued

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 11 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2016 15,198
Additions 4,018
At 30 September 2017 19,216
DEPRECIATION
At 1 October 2016 8,201
Charge for year 2,843
At 30 September 2017 11,044
NET BOOK VALUE
At 30 September 2017 8,172
At 30 September 2016 6,997

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Trade debtors 88,492 98,120
Other debtors 50,604 11,002
139,096 109,122

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Bank loans and overdrafts 45,113 13,565
Trade creditors 19,483 20,592
Taxation and social security 94,208 83,932
Other creditors 62,813 67,898
221,617 185,987

Included within other creditors is an advance of £21,079 (2016: £21,231) from Bibby Factors Scotland Ltd in
relation to invoice factoring. This debt is secured and Bibby Financial Services Ltd hold a debenture and fixed
charge over all assets of the company.

Page 4 continued...
Burns Interior Design Ltd (Registered number: SC409523)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.17 30.9.16
£    £   
Within one year 35,420 47,916
Between one and five years 7,220 30,860
42,640 78,776

Page 5