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COMPANY REGISTRATION NUMBER: 10011620
Blocked Drains and Plumbing Ltd
Unaudited Financial Statements
28 February 2018
Blocked Drains and Plumbing Ltd
Financial Statements
Year ended 28 February 2018
Contents
Page
Director's report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
Blocked Drains and Plumbing Ltd
Director's Report
Year ended 28 February 2018
The director presents his report and the unaudited financial statements of the company for the year ended 28 February 2018 .
Director
The director who served the company during the year was as follows:
Mr M Moustafa
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 12 November 2018 and signed on behalf of the board by:
Mr M Moustafa
Director
Registered office:
32-34 Station Close
Potters Bar
Herts
EN6 1TL
Blocked Drains and Plumbing Ltd
Statement of Comprehensive Income
Year ended 28 February 2018
2018
2017
Note
£
£
Turnover
65,265
58,912
Cost of sales
20,121
7,092
--------
--------
Gross profit
45,144
51,820
Administrative expenses
14,304
13,934
--------
--------
Operating profit
30,840
37,886
--------
--------
Profit before taxation
4
30,840
37,886
Tax on profit
6,544
4,577
--------
--------
Profit for the financial year and total comprehensive income
24,296
33,309
--------
--------
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.
Blocked Drains and Plumbing Ltd
Statement of Financial Position
28 February 2018
2018
2017
Note
£
£
Fixed assets
Tangible assets
5
11,550
15,000
Current assets
Cash at bank and in hand
16,809
14,727
Creditors: amounts falling due within one year
6
16,445
19,577
--------
--------
Net current assets/(liabilities)
364
( 4,850)
--------
--------
Total assets less current liabilities
11,914
10,150
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
11,913
10,149
--------
--------
Shareholders funds
11,914
10,150
--------
--------
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 28 February 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 12 November 2018 , and are signed on behalf of the board by:
Mr M Moustafa
Director
Company registration number: 10011620
Blocked Drains and Plumbing Ltd
Statement of Changes in Equity
Year ended 28 February 2018
Called up share capital
Profit and loss account
Total
£
£
£
At 1 March 2016
Profit for the year
33,309
33,309
----
--------
--------
Total comprehensive income for the year
33,309
33,309
Issue of shares
1
1
Dividends paid and payable
( 23,160)
( 23,160)
----
--------
--------
Total investments by and distributions to owners
1
( 23,160)
( 23,159)
At 28 February 2017
1
10,149
10,150
Profit for the year
24,296
24,296
----
--------
--------
Total comprehensive income for the year
24,296
24,296
Dividends paid and payable
( 22,532)
( 22,532)
----
--------
--------
Total investments by and distributions to owners
( 22,532)
( 22,532)
----
--------
--------
At 28 February 2018
1
11,913
11,914
----
--------
--------
Blocked Drains and Plumbing Ltd
Notes to the Financial Statements
Year ended 28 February 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 32-34 Station Close, Potters Bar, EN6 1TL, Herts.
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 measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period.
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:
Plant and machinery
-
25% reducing balance
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.
Financial instruments
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.
4. Profit before taxation
Profit before taxation is stated after charging:
2018
2017
£
£
Depreciation of tangible assets
3,450
5,000
-------
-------
5. Tangible assets
Plant and machinery
£
Cost
At 1 March 2017 and 28 February 2018
20,000
--------
Depreciation
At 1 March 2017
5,000
Charge for the year
3,450
--------
At 28 February 2018
8,450
--------
Carrying amount
At 28 February 2018
11,550
--------
At 28 February 2017
15,000
--------
6. Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
6,545
4,577
Other creditors
9,900
15,000
--------
--------
16,445
19,577
--------
--------