Company Registration No. 8118685 (England and Wales)
A Buckland & Sons Ltd
Unaudited accounts
for the year ended 30 June 2018
A Buckland & Sons Ltd
Unaudited accounts
Contents
A Buckland & Sons Ltd
Company Information
for the year ended 30 June 2018
Directors
Reg Buckland
Ray Buckland
Graham Buckland
Company Number
8118685 (England and Wales)
Registered Office
Moreton House
31 High Street
Buckingham
MK18 1NU
Accountants
Anthistle Craven
Moreton House
31 High Street
Buckingham
Bucks
MK18 1NU
A Buckland & Sons Ltd
Statement of financial position
as at 30 June 2018
Tangible assets
58,310
63,247
Cash at bank and in hand
243,181
219,399
Creditors: amounts falling due within one year
(234,213)
(263,675)
Net current assets
41,246
4,910
Total assets less current liabilities
99,556
68,157
Provisions for liabilities
Deferred tax
(3,821)
(3,166)
Called up share capital
3
3
Profit and loss account
95,732
64,988
Shareholders' funds
95,735
64,991
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 November 2018.
Reg Buckland
Director
Company Registration No. 8118685
A Buckland & Sons Ltd
Notes to the Accounts
for the year ended 30 June 2018
A Buckland & Sons Ltd is a private company, limited by shares, registered in England and Wales, registration number 8118685. The registered office is Moreton House, 31 High Street, Buckingham, MK18 1NU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on Reducing Balance
Fixtures & fittings
20% on Reducing Balance
Computer equipment
15% on Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
A Buckland & Sons Ltd
Notes to the Accounts
for the year ended 30 June 2018
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2017
193,197
2,821
5,388
201,406
Additions
13,845
-
209
14,054
At 30 June 2018
207,042
2,821
5,597
215,460
At 1 July 2017
133,765
1,877
2,517
138,159
Charge for the year
18,319
189
483
18,991
At 30 June 2018
152,084
2,066
3,000
157,150
At 30 June 2018
54,958
755
2,597
58,310
At 30 June 2017
59,432
944
2,871
63,247
Trade debtors
27,779
39,307
Accrued income and prepayments
999
1,879
7
Creditors: amounts falling due within one year
2018
2017
Trade creditors
33,397
21,501
Taxes and social security
21,338
29,122
Loans from directors
178,668
212,242
8
Transactions with related parties
There are loans from the directors to the company subsisting at 30 June 2018 amounting to £178,668. This is shown in creditors and there are no set terms of repayment.
9
Average number of employees
During the year the average number of employees was 5 (2017: 5).