BSL Scaffolding Erectors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06776826 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

BSL Scaffolding Erectors Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

David Graham Carter

Chantelle Elizabeth Carter

SECRETARY:

David Graham Carter

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Raod

Southwick

Fareham

Hampshire

PO17 6EX

REGISTERED NUMBER:

06776826 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Tangible assets

4

670,293

659,351

CURRENT ASSETS

Debtors

5

154,430

102,240

Cash at bank and in hand

476

111,964

154,906

214,204

CREDITORS

Amounts falling due within one year

6

236,174

240,590

NET CURRENT LIABILITIES

(81,268

)

(26,386

)

TOTAL ASSETS LESS CURRENT LIABILITIES

589,025

632,965

CREDITORS

Amounts falling due after more than one year

7

(270,992

)

(263,413

)

PROVISIONS FOR LIABILITIES

(45,882

)

(49,925

)

NET ASSETS

272,151

319,627

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

7,243

7,243

Retained earnings

264,808

312,284

SHAREHOLDERS' FUNDS

272,151

319,627

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 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 on 25 September 2019 and were signed on its behalf by:

David Graham Carter - Director

1.	STATUTORY INFORMATION

BSL Scaffolding Erectors 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 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.

Freehold land

-

not provided

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

land

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2018

400,000

596,742

41,683

114,599

1,153,024

Additions

-

90,117

-

9,500

99,617

At 31 December 2018

400,000

686,859

41,683

124,099

1,252,641

DEPRECIATION

At 1 January 2018

-

380,179

26,258

87,236

493,673

Charge for year

-

76,722

3,858

8,095

88,675

At 31 December 2018

-

456,901

30,116

95,331

582,348

NET BOOK VALUE

At 31 December 2018

400,000

229,958

11,567

28,768

670,293

At 31 December 2017

400,000

216,563

15,425

27,363

659,351

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 January 2018

and 31 December 2018

307,427

30,490

337,917

DEPRECIATION

At 1 January 2018

159,412

21,792

181,204

Charge for year

37,055

2,176

39,231

At 31 December 2018

196,467

23,968

220,435

NET BOOK VALUE

At 31 December 2018

110,960

6,522

117,482

At 31 December 2017

148,015

8,698

156,713

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

116,929

84,115

Other debtors

27,998

10,000

Staff loans

8,375

8,125

Prepayments and accrued income

1,128

-

154,430

102,240

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

15,037

14,250

Hire purchase contracts

36,732

84,538

Trade creditors

108,654

21,361

Corporation tax

8,256

31,036

Social security and other taxes

2,803

1,933

VAT

38,222

68,375

Credit card

7,402

3,216

Directors' current accounts

15,818

12,631

Accrued expenses

3,250

3,250

236,174

240,590

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans

259,005

253,454

Hire purchase contracts

11,987

9,959

270,992

263,413

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.18

31.12.17

£

£

Bank loans

274,042

267,704

The bank loan is secured by a fixed charge over the freehold land.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary £1 Shares

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 December 2018 and 31 December 2017:

31.12.18

31.12.17

£

£

David Graham Carter and Chantelle Elizabeth Carter

Balance outstanding at start of year

(12,631

)

94,977

Amounts repaid

(3,188

)

(107,608

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(15,819

)

(12,631

)

11.	ULTIMATE CONTROLLING PARTY