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
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
BEARINGS SOUTH WEST LIMITED
Statement of financial position
as at 31 May 2018
Tangible assets
14,834
14,326
Cash at bank and in hand
17,076
33,820
Creditors: amounts falling due within one year
(239,251)
(184,328)
Net current liabilities
(12,487)
(295)
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
BEARINGS SOUTH WEST LIMITED
Notes to the Accounts
for the year ended 31 May 2018
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.
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.
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
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
Disposals
-
(3,200)
(3,200)
At 31 May 2018
7,105
13,000
20,105
At 1 June 2017
152
3,240
3,392
Charge for the year
695
1,824
2,519
At 31 May 2018
847
4,424
5,271
At 31 May 2018
6,258
8,576
14,834
At 31 May 2017
1,366
12,960
14,326
Raw materials
45,997
27,871
Trade debtors
163,691
122,342
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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
8
Average number of employees
During the year the average number of employees was 0 (2017: 4).