The Builders Warehouse (North East) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05402133 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

THE BUILDERS WAREHOUSE (NORTH EAST)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K P Featonby

C Hardy

SECRETARY:

K P Featonby

REGISTERED OFFICE:

Thornley Station Industrial Estate

Shotton Colliery

Co. Durham

DH6 2QA

REGISTERED NUMBER:

05402133 (England and Wales)

ACCOUNTANTS:

Ribchesters

Chartered Accountants

Finchale House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

79,056

98,928

Investments

5

1,200

1,200

80,256

100,128

CURRENT ASSETS

Stocks

151,668

154,560

Debtors

6

145,744

129,955

Cash at bank and in hand

298,979

225,842

596,391

510,357

CREDITORS

Amounts falling due within one year

7

242,966

177,510

NET CURRENT ASSETS

353,425

332,847

TOTAL ASSETS LESS CURRENT LIABILITIES

433,681

432,975

CREDITORS

Amounts falling due after more than one year

8

-

(18,695

)

PROVISIONS FOR LIABILITIES

(15,021

)

(18,437

)

NET ASSETS

418,660

395,843

CAPITAL AND RESERVES

Called up share capital

10

120

100

Retained earnings

418,540

395,743

SHAREHOLDERS' FUNDS

418,660

395,843

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24 July 2018 and were signed on its behalf by:

K P Featonby - Director

C Hardy - Director

1.	STATUTORY INFORMATION

The Builders Warehouse (North East) 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 represents the value of goods sold during the period, net of VAT and trade discounts. Turnover is

recognised when goods are physically delivered to the customer. Invoiced deliveries are included within debtors.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

straight line over 3 years

Stocks

Stock of goods is valued at the lower of cost and net realisable value. Cost represents the purchase price of

goods.

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.

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 9 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2017

200,574

Additions

6,507

Disposals

(7,000

)

At 31 May 2018

200,081

DEPRECIATION

At 1 June 2017

101,646

Charge for year

26,033

Eliminated on disposal

(6,654

)

At 31 May 2018

121,025

NET BOOK VALUE

At 31 May 2018

79,056

At 31 May 2017

98,928

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

Plant and

machinery

etc

£

COST

At 1 June 2017

and 31 May 2018

98,474

DEPRECIATION

At 1 June 2017

47,635

Charge for year

12,710

At 31 May 2018

60,345

NET BOOK VALUE

At 31 May 2018

38,129

At 31 May 2017

50,839

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2017

and 31 May 2018

1,200

NET BOOK VALUE

At 31 May 2018

1,200

At 31 May 2017

1,200

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

139,072

128,768

Other debtors

6,672

1,187

145,744

129,955

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

18,695

21,528

Trade creditors

162,477

108,104

Taxation and social security

49,399

38,892

Other creditors

12,395

8,986

242,966

177,510

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

18,695

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

18,695

40,223

The hire purchase liability is secured on the assets to which it relates.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

20

Ordinary B

£1

20

-

120

100

20 Ordinary B shares of £1 each were allotted and fully paid for cash at par during the year.

11.	RELATED PARTY DISCLOSURES

During the year the directors maintained interest free loans to the company totalling £306 (2017: £326). The

balances remained outstanding as at the year end.