Bloody Mary Metal Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08843600 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Bloody Mary Metal Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mrs L R Chenoweth

REGISTERED OFFICE:

Unit 2 Chenoweth Business Park

Ruan High Lanes

Truro

Cornwall

TR2 5JT

REGISTERED NUMBER:

08843600 (England and Wales)

ACCOUNTANTS:

Cornish Accounting Solutions Ltd

Chartered Accountants and Business Specialists

79 Higher Bore Street

Bodmin

Cornwall

PL31 1JT

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Bloody Mary Metal Ltd for the year ended 31 March 2018 which comprise the Income Statement,

Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Bloody Mary Metal Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bloody Mary Metal Ltd and state those matters that we have agreed to state to the director of Bloody Mary Metal Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bloody Mary Metal Ltd and its director for our work or for this report.

It is your duty to ensure that Bloody Mary Metal Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bloody Mary Metal Ltd. You consider that Bloody Mary Metal Ltd 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 financial statements of Bloody Mary Metal Ltd. 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 financial statements.

Cornish Accounting Solutions Ltd

Chartered Accountants and Business Specialists

79 Higher Bore Street

Bodmin

Cornwall

PL31 1JT

21 December 2018

FIXED ASSETS

Intangible assets

4

16,739

6,330

Tangible assets

5

21,313

26,135

38,052

32,465

CURRENT ASSETS

Stocks

5,750

14,287

Debtors

6

1,458

9,500

Cash at bank

25,912

1,821

33,120

25,608

CREDITORS

Amounts falling due within one year

7

56,512

44,316

NET CURRENT LIABILITIES

(23,392

)

(18,708

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,660

13,757

PROVISIONS FOR LIABILITIES

5,302

3,511

NET ASSETS

9,358

10,246

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9,357

10,245

9,358

10,246

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 director acknowledges her 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 director on 21 December 2018 and were signed by:

Mrs L R Chenoweth - Director

1.	STATUTORY INFORMATION

Bloody Mary Metal Ltd 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.	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, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life:

Website costs - 20% on reducing balance

Trade marks - held at residual value.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Computer

licences

software

Totals

£

£

£

COST

At 1 April 2017

535

10,099

10,634

Additions

-

13,743

13,743

At 31 March 2018

535

23,842

24,377

AMORTISATION

At 1 April 2017

72

4,232

4,304

Amortisation for year

-

4,070

4,070

Charge written back

-

(736

)

(736

)

At 31 March 2018

72

7,566

7,638

NET BOOK VALUE

At 31 March 2018

463

16,276

16,739

At 31 March 2017

463

5,867

6,330

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2017

15,297

8,577

18,095

3,677

45,646

Additions

1,365

3,302

-

3,146

7,813

Disposals

(7,200

)

-

-

(1,036

)

(8,236

)

At 31 March 2018

9,462

11,879

18,095

5,787

45,223

DEPRECIATION

At 1 April 2017

5,468

3,489

8,215

2,339

19,511

Charge for year

1,359

1,736

2,444

1,783

7,322

Eliminated on disposal

(3,486

)

-

-

(1

)

(3,487

)

Charge written back

686

(289

)

104

63

564

At 31 March 2018

4,027

4,936

10,763

4,184

23,910

NET BOOK VALUE

At 31 March 2018

5,435

6,943

7,332

1,603

21,313

At 31 March 2017

9,829

5,088

9,880

1,338

26,135

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

458

1,009

Other debtors

1,000

8,491

1,458

9,500

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

14,433

17,666

Taxation and social security

11,941

10,723

Other creditors

30,138

15,927

56,512

44,316

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2018 and the period

ended 31 March 2017:

2018

2017

£

£

Mrs L R Chenoweth

Balance outstanding at start of year

7,878

(445

)

Amounts advanced

15,518

44,230

Amounts repaid

(23,441

)

(35,907

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(45

)

7,878

The above loan balance was owed (to)/by the director at the year end. The loan is non interest bearing and is

repayable on demand.

9.	RELATED PARTY DISCLOSURES

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

1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions where they have occurred under normal market conditions.

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of its director, Mrs L R Chenoweth by virtue of her shareholding.