REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
FOR |
BOURNE ELECTRICAL CONTRACTORS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
FOR |
BOURNE ELECTRICAL CONTRACTORS LIMITED |
BOURNE ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 03137214) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BOURNE ELECTRICAL CONTRACTORS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
570-572 Etruria |
Road, Basford |
Newcastle |
Staffordshire |
ST5 0SU |
BOURNE ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 03137214) |
ABRIDGED BALANCE SHEET |
31 MAY 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
BOURNE ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 03137214) |
ABRIDGED BALANCE SHEET - continued |
31 MAY 2018 |
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 by: |
BOURNE ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 03137214) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
1. | STATUTORY INFORMATION |
Bourne Electrical Contractors Limited is a |
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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. |
BOURNE ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 03137214) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
Employer-financed retirement benefit scheme (efrbs) |
The company has established trusts for the benefit of employees and persons connected with them. Monies held |
in these trusts are held by independent trustees and managed at their discretion. The trustees are empowered to |
provide both retirement and other employee benefits. |
Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of |
the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an |
allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust |
vest in identified individuals. |
Where monies held in a trust are determined by the company on the basis of employees' past services to the |
business and the company can obtain no future economic benefit from those monies,such monies whether in the |
trust or accrued for by the company are charged to the profit and loss account in the period to which they relate. |
Where monies held in a trust are determined by the company on the basis of employees' past services to the |
business and are payable after completion of the employment, such monies are charged to the profit and loss |
account in the period during which services are rendered by the employees. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2017 |
Additions |
Disposals | ( |
) |
At 31 May 2018 |
DEPRECIATION |
At 1 June 2017 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2018 |
NET BOOK VALUE |
At 31 May 2018 |
At 31 May 2017 |
BOURNE ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 03137214) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2018 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 June 2017 | 69,980 |
Additions | 131,737 |
Disposals | (29,081 | ) |
At 31 May 2018 | 172,636 |
DEPRECIATION |
At 1 June 2017 | 24,737 |
Charge for year | 40,156 |
Eliminated on disposal | (12,723 | ) |
At 31 May 2018 | 52,170 |
NET BOOK VALUE |
At 31 May 2018 | 120,466 |
At 31 May 2017 | 45,243 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Hire purchase contracts | 143,488 | 56,079 |
6. | OTHER FINANCIAL COMMITMENTS |
The company had total guarantees and commitments at the balance sheet date of £1,320 (2017 £79,446). |
7. | ULTIMATE CONTROLLING PARTY |
The Directors are the ultimate controlling party by virtue of their shareholdings as disclosed in the Directors |
report. |