Bristol Channel Timber Supplies Ltd - Accounts to registrar (filleted) - small 18.2
Bristol Channel Timber Supplies Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2017 |
| for |
| Bristol Channel Timber Supplies Ltd |
| Bristol Channel Timber Supplies Ltd (Registered number: 01652711) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Bristol Channel Timber Supplies Ltd |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Suite 1 |
| Liberty House |
| South Liberty Lane |
| Bristol |
| BS3 2ST |
| BANKERS: |
| PO Box 153 |
| 53-55 Corn Street |
| Bristol |
| BS99 7LE |
| Bristol Channel Timber Supplies Ltd (Registered number: 01652711) |
| Statement of Financial Position |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 5 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| Bristol Channel Timber Supplies Ltd (Registered number: 01652711) |
| Statement of Financial Position - continued |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Capital redemption reserve |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 its behalf by: |
| Bristol Channel Timber Supplies Ltd (Registered number: 01652711) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| Bristol Channel Timber Supplies Ltd is a |
| 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 |
| Turnover |
| Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for |
| goods and services provided during the year. All transactions arose in the United Kingdom. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Computer equipment | - |
| Stocks |
| Inventories 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. |
| Bristol Channel Timber Supplies Ltd (Registered number: 01652711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Freehold | Plant and | Computer |
| property | machinery | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2017 |
| Revaluations |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| Revaluation adjustments | ( |
) | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| The freehold property was revalued on 31 December 2017 by the directors at a value of £465,000. In |
| the opinion of the directors 50% of the value relates to freehold land and this is not depreciated. |
| Bristol Channel Timber Supplies Ltd (Registered number: 01652711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 6,671 | 6,000 |
| Directors' current accounts | 17,390 | 18,390 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 48,707 | 62,811 |
| Bristol Channel Timber Supplies Ltd (Registered number: 01652711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| The bank overdrafts and bank loans are secured by a fixed and floating debenture dated 23 April 1999 |
| which is secured over all owned assets. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2017 |
| Revaluation in year | 42,536 |
| Deferred tax on revaluation | (48,765 | ) |
| At 31 December 2017 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Mr N David and Mr R David | 2017 | 2016 |
| Capital withdrawn | 1,000 | 5,500 |
| At the year end the company owed Mr N David and Mr R David £17,390 (2016 - £18,390). |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is R N C David. |