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Company Registration No. 10203892 (England and Wales)
BEARINGS SOUTH WEST LIMITED Unaudited accounts for the year ended 31 May 2018
BEARINGS SOUTH WEST LIMITED Unaudited accounts Contents
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BEARINGS SOUTH WEST LIMITED Company Information for the year ended 31 May 2018
Directors
D R Green A M Green
Company Number
10203892 (England and Wales)
Registered Office
21 EAGER WAY EXMINSTER DEVON EX6 8TJ UNITED KINGDOM
Accountants
H W Martin & Co LLP Lloyds Bank Chambers High Street Crediton Devon EX17 3AH
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BEARINGS SOUTH WEST LIMITED Statement of financial position as at 31 May 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,834 
14,326 
Current assets
Inventories
45,997 
27,871 
Debtors
163,691 
122,342 
Cash at bank and in hand
17,076 
33,820 
226,764 
184,033 
Creditors: amounts falling due within one year
(239,251)
(184,328)
Net current liabilities
(12,487)
(295)
Net assets
2,347 
14,031 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,247 
13,931 
Shareholders' funds
2,347 
14,031 
For the year ending 31 May 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 9 November 2018.
D R Green Director Company Registration No. 10203892
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BEARINGS SOUTH WEST LIMITED Notes to the Accounts for the year ended 31 May 2018
1
Statutory information
BEARINGS SOUTH WEST LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10203892. The registered office is 21 EAGER WAY, EXMINSTER, DEVON, EX6 8TJ, UNITED KINGDOM.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
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.
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
10% reducing balance basis
Motor vehicles
20% reducing balance basis
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BEARINGS SOUTH WEST LIMITED Notes to the Accounts for the year ended 31 May 2018
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2017
1,518 
16,200 
17,718 
Additions
5,587 
- 
5,587 
Disposals
- 
(3,200)
(3,200)
At 31 May 2018
7,105 
13,000 
20,105 
Depreciation
At 1 June 2017
152 
3,240 
3,392 
Charge for the year
695 
1,824 
2,519 
On disposals
- 
(640)
(640)
At 31 May 2018
847 
4,424 
5,271 
Net book value
At 31 May 2018
6,258 
8,576 
14,834 
At 31 May 2017
1,366 
12,960 
14,326 
5
Inventories
2018 
2017 
£ 
£ 
Raw materials
45,997 
27,871 
45,997 
27,871 
6
Debtors
2018 
2017 
£ 
£ 
Trade debtors
163,691 
122,342 
7
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Trade creditors
155,227 
123,554 
Taxes and social security
31,414 
14,454 
Other creditors
23,141 
23,116 
Loans from directors
28,669 
22,404 
Accruals
800 
800 
239,251 
184,328 
8
Average number of employees
During the year the average number of employees was 0 (2017: 4).
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