Burnham Plastering & Dry Lining Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03482453 (England and Wales)

Burnham Plastering & Dry Lining Limited

Unaudited Financial Statements for the Year Ended 31 July 2017

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Spence

S H Spence

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

03482453 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

The Royal Bank of Scotland plc

Bristol Branch

36 - 38 Baldwin Street

Bristol

BS1 1NR

FIXED ASSETS

Tangible assets

5

76,503

55,765

CURRENT ASSETS

Stocks

296,500

122,300

Debtors

2,064,460

1,731,843

Cash at bank

567,305

721,961

2,928,265

2,576,104

CREDITORS

Amounts falling due within one year

1,335,572

1,292,050

NET CURRENT ASSETS

1,592,693

1,284,054

TOTAL ASSETS LESS CURRENT LIABILITIES

1,669,196

1,339,819

PROVISIONS FOR LIABILITIES

11,210

7,073

NET ASSETS

1,657,986

1,332,746

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,657,786

1,332,546

SHAREHOLDERS' FUNDS

1,657,986

1,332,746

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 July 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 18 April 2018 and were signed on its behalf by:

J Spence - Director

1.	STATUTORY INFORMATION

Burnham Plastering & Dry Lining 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 under the historical cost convention.

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

-

33% on reducing balance, 25% on reducing balance and 15% 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

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 35 (2016 - 38 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2016

100,795

Additions

40,029

At 31 July 2017

140,824

DEPRECIATION

At 1 August 2016

45,030

Charge for year

19,291

At 31 July 2017

64,321

NET BOOK VALUE

At 31 July 2017

76,503

At 31 July 2016

55,765

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.17

31.7.16

£

£

Within one year

43,549

44,262

Between one and five years

39,071

20,593

82,620

64,855

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Spence & Mr S H Spence.

The above shareholders controlled the company during the current and previous period, by virtue of the fact that

they own all of the company's issued share capital.