Burner & Boiler Spares Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03942257 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

Burner & Boiler Spares Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C.P. Lucas

A Lucas

REGISTERED OFFICE:

Suite 3 Warren House

10-20 Main Road

Hockley

Essex

SS5 4QS

REGISTERED NUMBER:

03942257 (England and Wales)

ACCOUNTANTS:

Anser Solutions!

Chartered Accountants

Suite 3 Warren House

10-20 Main Road

Hockley

Essex

SS5 4QS

FIXED ASSETS

Tangible assets

4

5,309

12,607

CURRENT ASSETS

Stocks

165,728

182,264

Debtors

5

395,638

449,588

Cash at bank and in hand

25,947

17,671

587,313

649,523

CREDITORS

Amounts falling due within one year

6

442,571

485,030

NET CURRENT ASSETS

144,742

164,493

TOTAL ASSETS LESS CURRENT LIABILITIES

150,051

177,100

CREDITORS

Amounts falling due after more than one year

7

-

1,805

NET ASSETS

150,051

175,295

CAPITAL AND RESERVES

Called up share capital

5,200

5,200

Retained earnings

9

144,851

170,095

SHAREHOLDERS' FUNDS

150,051

175,295

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 28 June 2018 and were signed on its behalf by:

C.P. Lucas - Director

1.	STATUTORY INFORMATION

Burner & Boiler Spares 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.

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 etc

-

25% on reducing balance and 20% 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 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.

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 makes employers contributions into the personal pensions scheme of eligible employees.

Contributions deemed payable are charged to the profit and loss account to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

57,688

Additions

1,698

Disposals

(21,864

)

At 30 September 2017

37,522

DEPRECIATION

At 1 October 2016

45,081

Charge for year

1,848

Eliminated on disposal

(14,716

)

At 30 September 2017

32,213

NET BOOK VALUE

At 30 September 2017

5,309

At 30 September 2016

12,607

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

Plant and

machinery

etc

£

COST

At 1 October 2016

21,864

Disposals

(21,864

)

At 30 September 2017

-

DEPRECIATION

At 1 October 2016

14,563

Charge for year

153

Eliminated on disposal

(14,716

)

At 30 September 2017

-

NET BOOK VALUE

At 30 September 2017

-

At 30 September 2016

7,301

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

392,063

446,013

Other debtors

3,575

3,575

395,638

449,588

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans and overdrafts

-

37,782

Hire purchase contracts

-

5,102

Trade creditors

224,016

163,036

Taxation and social security

34,255

55,651

Other creditors

184,300

223,459

442,571

485,030

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Hire purchase contracts

-

1,805

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.17

30.9.16

£

£

Bank overdraft

-

37,782

Hire purchase contracts

-

6,907

Invoice discounter

180,574

219,873

180,574

264,562

The director, C Lucas, has given a personal guarantee of £25,000 in relation to the bank overdraft.

Factored debts are secured by way of a fixed and floating charge over the company's assets, whilst hire purchase

liabilities are secured against the specific assets they were used to procure.

9.

RESERVES

Retained

earnings

£

At 1 October 2016

170,095

Profit for the year

57,756

Dividends

(83,000

)

At 30 September 2017

144,851

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments not included in the balance sheet amount to £35,251 (2016 : £45,681)