Bca Insulation Limited - Accounts to registrar (filleted) - small 18.2
Bca Insulation Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2018 |
| for |
| Bca Insulation Limited |
| Bca Insulation Limited (Registered number: SC323584) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Bca Insulation Limited |
| Company Information |
| for the Year Ended 30 November 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 17-19 Motherwell Road |
| Carfin |
| ML1 EB |
| Bca Insulation Limited (Registered number: SC323584) |
| Statement of Financial Position |
| 30 November 2018 |
| 30.11.18 | 30.11.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| Bca Insulation Limited (Registered number: SC323584) |
| Statement of Financial Position - continued |
| 30 November 2018 |
| 30.11.18 | 30.11.17 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 on signed on its behalf by: |
| Bca Insulation Limited (Registered number: SC323584) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2018 |
| 1. | STATUTORY INFORMATION |
| Bca Insulation Limited is a |
| 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 |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, |
| estimates and assumptions that affect the amounts reported. |
| These estimates and judgements are continually reviewed and are based on experience and |
| other factors, including expectations of future events that are believed to be reasonable |
| under the circumstances. |
| Significant judgements |
| The judgements (apart from those involving estimations) that management has made in the |
| process of applying the entity's accounting policies and that have the most significant effect |
| on the amounts recognised in the financial statements are as follows: |
| Key sources of estimation uncertainty |
| Accounting estimates and assumptions are made concerning the future and, by their nature, |
| will rarely equal the related actual outcome. |
| The key assumptions and other sources of estimation uncertainty that have a significant risk |
| of causing a material adjustment to the carrying amounts of assets and liabilities within the |
| next financial year are as follows: |
| The company has made estimates when accounting for various provisions such as bad |
| debts or stock provisions. These estimates are a reflection of what the company believes to |
| be realistic at that given time. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
| measured at cost less any accumulated amortisation and any accumulated impairment |
| losses. |
| Bca Insulation Limited (Registered number: SC323584) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after |
| making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and |
| handling costs in bringing stocks to their present location and condition. |
| Financial instruments |
| Financial liabilities and equity instruments are classified according to the substance of the |
| contractual arrangements entered into. An equity instrument is any contract that evidences a |
| residual interest in the assets of the entity after deducting all of its financial liabilities. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of |
| each reporting period for objective evidence of impairment. If objective evidence of |
| impairment is found, an impairment loss is recognised in the Income statement. |
| Financial assets and liabilities are offset and the net amount reported in the Statement of |
| financial position when there is an enforceable right to set off the recognised amounts and |
| there is an intention to settle on a net basis or to realise the asset and settle the liability |
| simultaneously. |
| Debt instruments (other than those wholly repayable or receivable within one year), including |
| loans and other accounts receivable and payable, are initially measured at present value of |
| the future cash flows and subsequently at amortised cost using the effective interest method. |
| Debt instruments that are payable or receivable within one year, typically trade payables or |
| receivables, are measured, initially and subsequently, at the undiscounted amount of the |
| cash or other consideration expected to be paid or received. However if the arrangements of |
| a short-term instrument constitute a financing transaction, like the payment of a trade debt |
| deferred beyond normal business terms or financed at a rate of interest that is not a market |
| rate or in case of an out-right short-term loan not at market rate, the financial asset or liability |
| is measured, initially, at the present value of the future cash flow discounted at a market rate |
| of interest for a similar debt instrument and subsequently at amortised cost. |
| 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 statement of financial position date. |
| Bca Insulation Limited (Registered number: SC323584) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 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. |
| 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 profit or loss in the period to which they relate. |
| Debt factoring |
| Customer debts are factored on a monthly basis by the company. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 December 2017 |
| and 30 November 2018 |
| AMORTISATION |
| At 1 December 2017 |
| Charge for year |
| At 30 November 2018 |
| NET BOOK VALUE |
| At 30 November 2018 |
| At 30 November 2017 |
| Bca Insulation Limited (Registered number: SC323584) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 December 2017 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 November 2018 |
| DEPRECIATION |
| At 1 December 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 November 2018 |
| NET BOOK VALUE |
| At 30 November 2018 |
| At 30 November 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as |
| follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 December 2017 |
| Additions |
| At 30 November 2018 |
| DEPRECIATION |
| At 1 December 2017 |
| Charge for year |
| At 30 November 2018 |
| NET BOOK VALUE |
| At 30 November 2018 |
| At 30 November 2017 |
| Bca Insulation Limited (Registered number: SC323584) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.18 | 30.11.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Employee loans | 3,000 | - |
| Directors' current accounts | 57,217 | 122,701 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.18 | 30.11.17 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 6,362 | 2,408 |
| Other creditors |
| Factor account | 165,905 | 152,724 |
| Remedial works | 34,922 | 24,735 |
| Credit card | 11,563 | 10,800 |
| Pensions | 1,410 | 1,879 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.18 | 30.11.17 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| Bca Insulation Limited (Registered number: SC323584) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2018 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended |
| 30 November 2018 and 30 November 2017: |
| 30.11.18 | 30.11.17 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |