Backen Wright Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05301058 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2017

for

BACKEN WRIGHT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Saddington

SECRETARY:

L Saddington

REGISTERED OFFICE:

7 Hope Mills Business Centre

Brimscombe

Stroud

Gloucestershire

GL5 2SE

REGISTERED NUMBER:

05301058 (England and Wales)

ACCOUNTANTS:

Davies Mayers Barnett

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

79,922

80,981

79,922

80,981

CURRENT ASSETS

Stocks

1,689

2,974

Debtors

7

265,135

33,233

Cash at bank and in hand

20,783

49,243

287,607

85,450

CREDITORS

Amounts falling due within one year

8

(55,460

)

(47,157

)

NET CURRENT ASSETS

232,147

38,293

TOTAL ASSETS LESS CURRENT LIABILITIES

312,069

119,274

CREDITORS

Amounts falling due after more than one year

9

(215,957

)

(50,185

)

NET ASSETS

96,112

69,089

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

96,012

68,989

SHAREHOLDERS' FUNDS

96,112

69,089

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 13th June 2018 and were signed by:

L Saddington - Director

1.	STATUTORY INFORMATION

Backen Wright 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 on a going concern basis, under the historical cost basis except for

the modification to a fair value basis where specified.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates,value added tax and other sales taxes.

Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Turnover from a contract to provide services is recognised in the period in which the services are provided and

in accordance with the stage of completion of the contract at the balance sheet date.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost and 20% on cost

Cost is defined as purchase or valuation, including costs directly attributable to making the asset capable of

operating as intended, less any residual value.

Depreciation is charged from the month of acquisition at the above rates.

The fair values of the assets are regularly reviewed by the directors and further adjustments to carrying values

are made when considered appropriate.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all

costs of purchase, costs of conversion and other costs incurred, where relevant, in bringing stock to its present

location and condition.

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the

balance sheet date.

Current and deferred tax are determined using tax rates and laws that have been enacted or substantively enacted

by the balance sheet date.

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising

from impairment are recognised in profit or loss.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past

event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be

reliably estimated.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2017

and 31st December 2017

20,000

AMORTISATION

At 1st January 2017

and 31st December 2017

20,000

NET BOOK VALUE

At 31st December 2017

-

At 31st December 2016

-

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2017

93,042

41,872

134,914

Additions

-

1,731

1,731

At 31st December 2017

93,042

43,603

136,645

DEPRECIATION

At 1st January 2017

13,130

40,803

53,933

Charge for year

1,860

930

2,790

At 31st December 2017

14,990

41,733

56,723

NET BOOK VALUE

At 31st December 2017

78,052

1,870

79,922

At 31st December 2016

79,912

1,069

80,981

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

18,985

32,848

Other debtors

246,150

385

265,135

33,233

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

26,454

6,058

Trade creditors

7,236

12,863

Taxation and social security

13,028

22,612

Other creditors

8,742

5,624

55,460

47,157

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

149,491

50,185

Other creditors

66,466

-

215,957

50,185

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years - by instalments

38,762

34,394

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

175,945

56,243

HSBC Bank Plc holds fixed and floating charges over the undertaking and all property and assets present and

future including Goodwill, Book debts, Uncalled Capital, Buildings, Fixtures, Fixed Plant and Machinery.

Barclays Bank Plc holds a charge over the property in the accounts.

11.	GUARANTEES CONTINGENCIES AND OTHER FINANCIAL COMMITMENTS

As at 31st December 2017 the company had no known guarantees, contingencies and commitments. (2016:

£Nil).