Bannerdown Benching Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01409985 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

BANNERDOWN BENCHING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors' Responsibilities Statement

8

Independent Chartered Accountants' Review Report

9

DIRECTORS:

J G Lloyd

D C Creech

Mrs I E Terry

Mrs E Stannard

S Hall

R J Morris

A M G Courtney

M S Denny

A G Fall

SECRETARY:

J G Lloyd

REGISTERED OFFICE:

Farleigh Rise

Monkton Farleigh

Bradford-on-Avon

Wiltshire

BA15 2QP

REGISTERED NUMBER:

01409985 (England and Wales)

ACCOUNTANTS:

Graham Barber Accountancy Limited

4 Beaufort West

Bath

BA1 6QB

BANKERS:

Barclays

4-5 Southgate Street

Bath

BA1 1AQ

FIXED ASSETS

Tangible assets

4

173,248

150,163

CURRENT ASSETS

Stocks

9,296

5,360

Debtors

5

19,550

12,311

Cash at bank and in hand

119,525

230,654

148,371

248,325

CREDITORS

Amounts falling due within one year

6

44,997

38,309

NET CURRENT ASSETS

103,374

210,016

TOTAL ASSETS LESS CURRENT LIABILITIES

276,622

360,179

PROVISIONS FOR LIABILITIES

-

3,170

NET ASSETS

276,622

357,009

CAPITAL AND RESERVES

Called up share capital

7

808

808

Share premium

8

34,583

34,583

Capital redemption reserve

8

155

155

Retained earnings

8

241,076

321,463

SHAREHOLDERS' FUNDS

276,622

357,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 24 April 2019 and were signed on its behalf by:

Mrs I E Terry - Director

1.	STATUTORY INFORMATION

Bannerdown Benching 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.

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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Benching

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Benching

machinery

£

£

£

COST

At 1 January 2018

128,960

666,497

196,475

Additions

-

5,720

45,582

At 31 December 2018

128,960

672,217

242,057

DEPRECIATION

At 1 January 2018

66,643

628,396

188,809

Charge for year

2,400

18,054

8,262

Eliminated on disposal

-

-

-

At 31 December 2018

69,043

646,450

197,071

NET BOOK VALUE

At 31 December 2018

59,917

25,767

44,986

At 31 December 2017

62,317

38,101

7,666

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2018

11,657

246,467

10,101

1,260,157

Additions

20,183

20,000

-

91,485

Disposals

-

(20,000

)

-

(20,000

)

At 31 December 2018

31,840

246,467

10,101

1,331,642

DEPRECIATION

At 1 January 2018

11,386

204,659

10,101

1,109,994

Charge for year

2,396

32,288

-

63,400

Eliminated on disposal

-

(15,000

)

-

(15,000

)

At 31 December 2018

13,782

221,947

10,101

1,158,394

NET BOOK VALUE

At 31 December 2018

18,058

24,520

-

173,248

At 31 December 2017

271

41,808

-

150,163

Included in cost of land and buildings is freehold land of £ 8,485 (2017 - £ 8,485 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

11,185

7,254

Other debtors

8,365

5,057

19,550

12,311

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

22,322

10,934

Taxation and social security

4,630

18,622

Other creditors

18,045

8,753

44,997

38,309

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

80,750

Ordinary

£0.01

808

808

8.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 January 2018

321,463

34,583

155

356,201

Deficit for the year

(80,387

)

(80,387

)

At 31 December 2018

241,076

34,583

155

275,814

9.	CAPITAL COMMITMENTS

2018

2017

£

£

Contracted but not provided for in the

financial statements

-

14,500

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

J G Lloyd Esq., a director of the company, supplied materials and services to a value of £59,150 (2017 -£48,772)

in the year and has supplied equipment on a rental basis to the value of £23,904 (2017- £22,302). J G Lloyd was

owed £1,106 (2017 - £1,851) at the year end. Sales of £950 (2017- £nil) were made to JG Lloyd in the course

of the year on an arms length basis. The amount owed at the year end was £1,140 (2017 £nil) which has been

settled in the normal course of business. All transactions have been entered into on an arms length basis. The

company has had the use of a tractor unit and trailor which is currently owned by JG Lloyd. All running costs

are paid for by the company.

11.	RELATED PARTY DISCLOSURES

The largest shareholder is J G Lloyd Esq a director of the company, holding 40,866 ordinary shares of £0.01

each, representing 50.61% of the issued share capital at the year end. Transactions with J G Lloyd are stated in

the notes to these financial statements.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-

prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2018 and of its loss for that period in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

Mrs I E Terry - Director

24 April 2019

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Bannerdown Benching Limited for the year ended 31 December 2018, which comprise the Income Statement, Balance Sheet and the related notes 1 to 12. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 16 April 2010. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page nil, the directors are responsible for

the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review

in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review

historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on

historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have

performed additional procedures to those required under a compilation engagement. These primarily consist of making

enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the

evidence obtained. The procedures performed in a review are substantially less than those performed in an audit

conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an

audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 December 2018 and of its loss for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

-	in accordance with the requirements of the Companies Act 2006.

Graham Barber Accountancy Limited

4 Beaufort West

Bath

BA1 6QB

24 April 2019