Bansal Building (London) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02457792 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

BANSAL BUILDING (LONDON) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr A S Bansal

SECRETARY:

Mr D Muller

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

02457792 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

8,925

6,010

CURRENT ASSETS

Stocks

5

134,093

150,072

Debtors

6

27,880

37,033

Cash at bank and in hand

150

4,237

162,123

191,342

CREDITORS

Amounts falling due within one year

7

1,749,267

1,202,495

NET CURRENT LIABILITIES

(1,587,144

)

(1,011,153

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,578,219

)

(1,005,143

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

(1,578,319

)

(1,005,243

)

SHAREHOLDERS' FUNDS

(1,578,219

)

(1,005,143

)

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 30 September 2019 and were signed by:

Mr A S Bansal - Director

1.	STATUTORY INFORMATION

Bansal Building (London) 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.

The company entered a Company Voluntary Arrangement (CVA) agreement on 21 August 2013 for creditor

balances up to 15 September 2013. The CVA agreement is over a 5 year period to pay the company's liabilities

of £1,730,614. The CVA was settled on 14 November 2017 when a distribution was made to the CVA creditors.

In view of the current contracts secured by the company and the financial support that the director and the related

company are providing he believes that the company will successfully trade and meet all obligations and

therefore remains a going concern.

Turnover

Turnover includes revenue earned from the rendering of services which is recognised by reference to the stage of

completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred

for work performed to date to the total estimated contract costs. This is stated after trade discounts, other sales

taxes and net of VAT.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks and work in progress

Stock and work in progress consists of materials and supplies to be consumed in the rendering of service. They

are stated at the lower of cost and net realisable value. Net realisable value is the estimated selling price of the

services less the applicable costs of conversion to complete the services and variable selling expenses.

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.

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 19 (2017 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2018

32,797

19,121

-

51,918

Additions

-

-

5,154

5,154

At 31 December 2018

32,797

19,121

5,154

57,072

DEPRECIATION

At 1 January 2018

26,918

18,990

-

45,908

Charge for year

1,176

32

1,031

2,239

At 31 December 2018

28,094

19,022

1,031

48,147

NET BOOK VALUE

At 31 December 2018

4,703

99

4,123

8,925

At 31 December 2017

5,879

131

-

6,010

5.

STOCKS

31.12.18

31.12.17

£

£

Stock and work-in-progress

134,093

150,072

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

-

9,636

Other debtors

13,009

12,872

Prepayments and accrued income

14,871

14,525

27,880

37,033

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

24,650

-

Trade creditors

95,373

95,727

Tax

112

112

Social security and other taxes

76,119

40,778

Net wages

145,244

-

Pension contributions

4,105

420

VAT

42,451

38,742

Other creditors

6,722

4,722

Credit Card

2,553

552

Amounts due to related party

967,865

697,757

Directors' current accounts

310,432

249,441

Accrued expenses

73,641

74,244

1,749,267

1,202,495

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2018

(1,005,243

)

Deficit for the year

(573,076

)

At 31 December 2018

(1,578,319

)