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REGISTERED NUMBER: 08953605 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

B & W PLASTERING & DRYLINING LIMITED

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B & W PLASTERING & DRYLINING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr P C Bayley
Mr L K Washbrook



REGISTERED OFFICE: 12 Swallowfield Rise
Torquay
TQ2 7SF



REGISTERED NUMBER: 08953605 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Barclays Bank Plc
40 Courtenay Street
Newton Abbot
Devon
TQ12 2EA

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,873 12,955

CURRENT ASSETS
Stocks 5 200 200
Debtors 6 29,597 21,627
Cash at bank 5,854 12,816
35,651 34,643
CREDITORS
Amounts falling due within one year 7 30,634 34,507
NET CURRENT ASSETS 5,017 136
TOTAL ASSETS LESS CURRENT LIABILITIES 14,890 13,091

CREDITORS
Amounts falling due after more than one
year

8

(12,334

)

(16,761

)

PROVISIONS FOR LIABILITIES (1,876 ) (2,461 )
NET ASSETS/(LIABILITIES) 680 (6,131 )

CAPITAL AND RESERVES
Called up share capital 180 180
Retained earnings 500 (6,311 )
SHAREHOLDERS' FUNDS 680 (6,131 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 June 2023 and were signed on its behalf by:




Mr P C Bayley - Director



Mr L K Washbrook - Director


B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

B & W Plastering & Drylining Limited is a private company, limited by shares , registered in England and Wales. 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
During the year, the company received the following Government Grants as a result COVID-19:-

Bounce Back Loan (BBL) interest paid £42 (2022: £458)

Grants are recognised under the Accruals model.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 8,000 41,474 49,474
DEPRECIATION
At 1 April 2022 4,855 31,664 36,519
Charge for year 629 2,453 3,082
At 31 March 2023 5,484 34,117 39,601
NET BOOK VALUE
At 31 March 2023 2,516 7,357 9,873
At 31 March 2022 3,145 9,810 12,955

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 18,911
DEPRECIATION
At 1 April 2022 14,572
Charge for year 1,085
At 31 March 2023 15,657
NET BOOK VALUE
At 31 March 2023 3,254
At 31 March 2022 4,339

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. STOCKS
2023 2022
£    £   
Stocks 200 200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,340 950
Other debtors 12,000 -
Directors' current accounts 15,257 20,491
VAT - 186
29,597 21,627

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,717 6,366
Hire purchase contracts 548 3,310
Trade creditors 870 2,587
Tax 5,467 4,234
Social security and other taxes 12,734 15,624
VAT 841 -
Other creditors 1,375 846
Accrued expenses 2,082 1,540
30,634 34,507

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 12,334 16,333
Hire purchase contracts - 428
12,334 16,761

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr P C Bayley
Balance outstanding at start of year 6,561 (12,150 )
Amounts advanced 16,800 23,012
Amounts repaid (19,417 ) (4,301 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,944 6,561

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr L K Washbrook
Balance outstanding at start of year 13,930 (4,687 )
Amounts advanced 16,800 22,918
Amounts repaid (19,417 ) (4,301 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,313 13,930

Loans are unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,000 were paid to the directors .

11. GOVERNMENT GUARANTEED LOAN

The bank loan of £16,333 (2022: £20,000) is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to April 2027.