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COMPANY REGISTRATION NUMBER: 08990703
BD (EDENBRIDGE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
30 April 2018
BD (EDENBRIDGE) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2018
CONTENTS
PAGE
Director's report
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Income statement
3
Statement of financial position
4
Notes to the financial statements
6
BD (EDENBRIDGE) LIMITED
DIRECTOR'S REPORT
YEAR ENDED 30 APRIL 2018
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2018 .
DIRECTOR
The director who served the company during the year was as follows:
Mr P Beckingham
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 November 2018 and signed on behalf of the board by:
Mr P Beckingham
Director
Registered office:
Onega House
112 Main Road
Sidcup
Kent
DA14 6NE
BD (EDENBRIDGE) LIMITED
CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BD (EDENBRIDGE) LIMITED
YEAR ENDED 30 APRIL 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BD (Edenbridge) Limited for the year ended 30 April 2018, which comprise the income statement, statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of BD (Edenbridge) Limited in accordance with the terms of our engagement letter dated 8 December 2017. Our work has been undertaken solely to prepare for your approval the financial statements of BD (Edenbridge) Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BD (Edenbridge) Limited and its director for our work or for this report.
It is your duty to ensure that BD (Edenbridge) Limited 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 loss of BD (Edenbridge) Limited. You consider that BD (Edenbridge) Limited 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 BD (Edenbridge) Limited. 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.
DYER & CO Chartered accountant
Onega House 112 Main Road Sidcup Kent DA14 6NE
13 November 2018
BD (EDENBRIDGE) LIMITED
INCOME STATEMENT
YEAR ENDED 30 APRIL 2018
2018
2017
Note
£
£
Administrative expenses
14,115
13,993
Other operating income
9,600
9,600
----------
----------
OPERATING LOSS
( 4,515)
( 4,393)
----------
----------
LOSS BEFORE TAXATION
4
( 4,515)
( 4,393)
Tax on loss
--------
--------
LOSS FOR THE FINANCIAL YEAR
( 4,515)
( 4,393)
--------
--------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
BD (EDENBRIDGE) LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2018
2018
2017
Note
£
£
£
FIXED ASSETS
Tangible assets
5
1,000
CURRENT ASSETS
Stocks
262,497
262,497
Debtors
6
147,840
148,920
Cash at bank and in hand
1,691
180
------------
------------
412,028
411,597
CREDITORS: amounts falling due within one year
7
432,076
428,130
------------
------------
NET CURRENT LIABILITIES
20,048
16,533
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 20,048)
( 15,533)
----------
----------
NET LIABILITIES
( 20,048)
( 15,533)
----------
----------
BD (EDENBRIDGE) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2018
2018
2017
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
( 20,049)
( 15,534)
----------
----------
SHAREHOLDERS DEFICIT
( 20,048)
( 15,533)
----------
----------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 November 2018 , and are signed on behalf of the board by:
Mr P Beckingham
Director
Company registration number: 08990703
BD (EDENBRIDGE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2018
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured 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 in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. PROFIT BEFORE TAXATION
Loss before taxation is stated after charging:
2018
2017
£
£
Depreciation of tangible assets
1,000
1,000
--------
--------
5. TANGIBLE ASSETS
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 May 2017 and 30 April 2018
1,500
2,500
4,000
--------
--------
--------
Depreciation
At 1 May 2017
1,125
1,875
3,000
Charge for the year
375
625
1,000
--------
--------
--------
At 30 April 2018
1,500
2,500
4,000
--------
--------
--------
Carrying amount
At 30 April 2018
--------
--------
--------
At 30 April 2017
375
625
1,000
--------
--------
--------
6. DEBTORS
2018
2017
£
£
Other debtors
147,840
148,920
------------
------------
7. CREDITORS: amounts falling due within one year
2018
2017
£
£
Other creditors
432,076
428,130
------------
------------
8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the directors did not enter into any advances, credits or guarantees with the Company.