B & H Furniture & Joinery Limited

B & H Furniture & Joinery Limited

B & H FURNITURE & JOINERY LIMITED - Company Information

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Company Registration No. 09601661 (England and Wales)
B & H Furniture & Joinery Limited Unaudited accounts for the year ended 30 June 2017
B & H Furniture & Joinery Limited Unaudited accounts Contents
Page
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B & H Furniture & Joinery Limited Company Information for the year ended 30 June 2017
Directors
G.Buzasi J.Snitzer
Company Number
09601661 (England and Wales)
Registered Office
103 High Street Waltham Cross Hertfordshire EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross Herts. EN8 7AN
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B & H Furniture & Joinery Limited Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of B & H Furniture & Joinery Limited for the year ended 30 June 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of B & H Furniture & Joinery Limited for the year ended 30 June 2017 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of B & H Furniture & Joinery Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of B & H Furniture & Joinery Limited and state those matters that we have agreed to state to the Board of Directors of B & H Furniture & Joinery Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B & H Furniture & Joinery Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that B & H Furniture & Joinery Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of B & H Furniture & Joinery Limited. You consider that B & H Furniture & Joinery Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of B & H Furniture & Joinery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross Herts. EN8 7AN 27 July 2018
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B & H Furniture & Joinery Limited Statement of financial position as at 30 June 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
14,559 
4,750 
Current assets
Inventories
5
6,000 
8,725 
Debtors
6
283,850 
41,611 
Cash at bank and in hand
17,637 
1,815 
307,487 
52,151 
Creditors: amounts falling due within one year
7
(377,721)
(112,075)
Net current liabilities
(70,234)
(59,924)
Net liabilities
(55,675)
(55,174)
Capital and reserves
Profit and loss account
(55,675)
(55,174)
Shareholders' funds
(55,675)
(55,174)
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 July 2018.
J.Snitzer Director Company Registration No. 09601661
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B & H Furniture & Joinery Limited Notes to the Accounts for the year ended 30 June 2017
1
Statutory information
B & H Furniture & Joinery Limited is a private company, limited by shares, registered in England and Wales, registration number 09601661. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 June 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 20 May 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% straight line
Motor vehicles
20% straight line
Computer equipment
33 1/3% straight line
Going concern
The directors consider the company to be a going concern despite the deficit on the balance sheet as they have agreed to continue supporting the company in the foreseeable future.
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B & H Furniture & Joinery Limited Notes to the Accounts for the year ended 30 June 2017
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2016
4,978 
- 
- 
4,978 
Additions
2,500 
7,124 
768 
10,392 
At 30 June 2017
7,478 
7,124 
768 
15,370 
Depreciation
At 1 July 2016
228 
- 
- 
228 
Charge for the year
498 
- 
85 
583 
At 30 June 2017
726 
- 
85 
811 
Net book value
At 30 June 2017
6,752 
7,124 
683 
14,559 
At 30 June 2016
4,750 
- 
- 
4,750 
5
Inventories
2017 
2016 
£ 
£ 
Finished goods
6,000 
8,725 
6,000 
8,725 
6
Debtors
2017 
2016 
£ 
£ 
Trade debtors
180,248 
- 
Other debtors
103,602 
41,611 
283,850 
41,611 
7
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Trade creditors
105,524 
1,750 
Taxes and social security
15,289 
713 
Other creditors
254,904 
97,599 
Loans from directors
594 
10,863 
Accruals
1,410 
1,150 
377,721 
112,075 
8
Transactions with related parties
The company was under the control of Mr.J.Snitzer & Mr.G.Buzasi throughout the current period. Mr.J.Snitzer is personally interested in 51% of the company's share capital and Mr.G.Buzasi is personally interested in 49% of the company's issued share capital. Mr J.Snitzer received a dividend from the company during the year of £24,480 (2016 £NIL) and Mr.G.Buzasi received a dividend from the company during the year of £23,520 (2016 £NIL).
9
Average number of employees
During the year the average number of employees was 16 (2016: 13).
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