Bellside Building & Timber Supplies Ltd - Accounts to registrar (filleted) - small 18.2

Bellside Building & Timber Supplies Ltd - Accounts to registrar (filleted) - small 18.2

BELLSIDE BUILDING & TIMBER SUPPLIES LIMITED - Company Information

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REGISTERED NUMBER: SC160233 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED
William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT








BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED (REGISTERED NUMBER: SC160233)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2018







DIRECTORS: Alan Gordon Freeland
John Paterson





REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT





BUSINESS ADDRESS: North and South Road
Bellside
Cleland
Motherwell
ML1 5NX





REGISTERED NUMBER: SC160233 (Scotland)





ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT
Page 1
BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED (REGISTERED NUMBER: SC160233)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2018

30.9.18 30.9.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,930 55,294

CURRENT ASSETS
Stocks 188,035 179,515
Debtors 5 818,746 841,502
Cash at bank and in hand 410,113 286,575
1,416,894 1,307,592
CREDITORS
Amounts falling due within one year 6 589,644 737,085
NET CURRENT ASSETS 827,250 570,507
TOTAL ASSETS LESS CURRENT
LIABILITIES
899,180
625,801

PROVISIONS FOR LIABILITIES 13,667 10,506
NET ASSETS 885,513 615,295

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 865,513 595,295
SHAREHOLDERS' FUNDS 885,513 615,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 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.

The notes form part of these financial statements

Page 2 continued...
BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED (REGISTERED NUMBER: SC160233)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 March 2019 and were signed on its behalf by:





Alan Gordon Freeland - Director


The notes form part of these financial statements

Page 3
BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED (REGISTERED NUMBER: SC160233)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018


1. STATUTORY INFORMATION

Bellside Building & Timber Supplies Limited is a private company, limited by shares , registered in Scotland.
The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Rendering of services
Turnover from the rendering of services, namely the provision of building and timber supplies is recognised by
reference to the stage of completion of the service at the statement of financial position date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised
immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate
of its recoverable amount, but not in excess of the amount that would have been determined had no impairment
loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the
income statement.

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

Page 4 continued...
BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED (REGISTERED NUMBER: SC160233)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2018


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective
interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in
liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost
using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period
of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the income statement in the period to which they relate.

Provision for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in
the current period, and which employees are entitled to carry forward and use within the next 12 months. The
provision is measured at the salary cost payable for the period of absence.

Page 5 continued...
BELLSIDE BUILDING & TIMBER SUPPLIES
LIMITED (REGISTERED NUMBER: SC160233)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2018


3. AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was 11 (2017 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2017 70,393 10,546 131,093 212,032
Additions - - 43,000 43,000
Disposals - - (14,000 ) (14,000 )
At 30 September 2018 70,393 10,546 160,093 241,032
DEPRECIATION
At 1 October 2017 43,775 9,772 103,191 156,738
Charge for year 5,761 154 16,949 22,864
Eliminated on disposal - - (10,500 ) (10,500 )
At 30 September 2018 49,536 9,926 109,640 169,102
NET BOOK VALUE
At 30 September 2018 20,857 620 50,453 71,930
At 30 September 2017 26,618 774 27,902 55,294

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.18 30.9.17
£    £   
Trade debtors 721,852 686,329
Other debtors 75,882 136,954
Prepayments and accrued income 21,012 18,219
818,746 841,502

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.18 30.9.17
£    £   
Trade creditors 456,362 547,462
Corporation tax 81,365 66,551
PAYE and NIC 3,944 4,376
VAT 38,385 25,696
Other creditors 88 -
Directors' loan - 90,000
Accrued charges 9,500 3,000
589,644 737,085

Page 6