Bracci Installations Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04598890 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

for

Bracci Installations Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P V Bracci

G Bracci

REGISTERED OFFICE:

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

04598890 (England and Wales)

ACCOUNTANTS:

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

FIXED ASSETS

Tangible assets

4

32,678

15,341

CURRENT ASSETS

Debtors

5

135,702

79,087

Cash at bank

12,337

67,833

148,039

146,920

CREDITORS

Amounts falling due within one year

6

71,630

105,422

NET CURRENT ASSETS

76,409

41,498

TOTAL ASSETS LESS CURRENT LIABILITIES

109,087

56,839

CREDITORS

Amounts falling due after more than one year

7

(23,058

)

(9,933

)

PROVISIONS FOR LIABILITIES

(6,209

)

-

NET ASSETS

79,820

46,906

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

79,720

46,806

SHAREHOLDERS' FUNDS

79,820

46,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 14 September 2018 and were signed on its behalf by:

P V Bracci - Director

1.	STATUTORY INFORMATION

Bracci Installations 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services net of

VAT and trade discounts (having regard to the fulfilment of contractual obligations).

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

Tangible fixed assets are stated at cost (deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended. Any revaluation gains or losses

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

47,480

Additions

35,531

Disposals

(29,000

)

At 31 March 2018

54,011

DEPRECIATION

At 1 April 2017

32,139

Charge for year

5,959

Eliminated on disposal

(16,765

)

At 31 March 2018

21,333

NET BOOK VALUE

At 31 March 2018

32,678

At 31 March 2017

15,341

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

Plant and

machinery

etc

£

COST

At 1 April 2017

29,000

Additions

35,531

Disposals

(29,000

)

At 31 March 2018

35,531

DEPRECIATION

At 1 April 2017

16,765

Charge for year

5,182

Eliminated on disposal

(16,765

)

At 31 March 2018

5,182

NET BOOK VALUE

At 31 March 2018

30,349

At 31 March 2017

12,235

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

111,465

53,578

Other debtors

24,237

25,509

135,702

79,087

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

4,374

5,421

Trade creditors

9,590

16,447

Taxation and social security

49,164

61,070

Other creditors

8,502

22,484

71,630

105,422

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

23,058

9,933

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary Shares

£1

100

100