Blackthorn Construction Limited - Limited company accounts 18.2

REGISTERED NUMBER: 08705826 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Blackthorn Construction Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Other Comprehensive Income

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTOR:

M Taylor

REGISTERED OFFICE:

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

REGISTERED NUMBER:

08705826 (England and Wales)

ACCOUNTANTS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

The director presents his report with the financial statements of the company for the year ended 30 September 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Building contractors.

DIRECTOR

M Taylor held office during the whole of the period from 1 October 2017 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

M Taylor - Director

30 September 2019

TURNOVER

172,671

176,500

Cost of sales

112,750

138,428

GROSS PROFIT

59,921

38,072

Administrative expenses

19,285

17,616

OPERATING PROFIT

4

40,636

20,456

Interest receivable and similar income

-

268

PROFIT BEFORE TAXATION

40,636

20,724

Tax on profit

7,735

4,038

PROFIT FOR THE FINANCIAL YEAR

32,901

16,686

PROFIT FOR THE YEAR

32,901

16,686

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

32,901

16,686

FIXED ASSETS

Tangible assets

6

241

301

CURRENT ASSETS

Stocks

16,000

5,395

Debtors

7

7,438

7,876

Cash at bank

521

4,105

23,959

17,376

CREDITORS

Amounts falling due within one year

8

23,787

17,653

NET CURRENT ASSETS/(LIABILITIES)

172

(277

)

TOTAL ASSETS LESS CURRENT LIABILITIES

413

24

PROVISIONS FOR LIABILITIES

46

58

NET ASSETS/(LIABILITIES)

367

(34

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9

366

(35

)

SHAREHOLDERS' FUNDS

367

(34

)

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 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 in accordance with the provisions applicable to companies subject to the small companies regime.

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

M Taylor - Director

1.	STATUTORY INFORMATION

Blackthorn Construction 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 (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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 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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.18

30.9.17

£

£

Depreciation - owned assets

60

76

5.

DIVIDENDS

30.9.18

30.9.17

£

£

Interim

32,500

22,800

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2017

and 30 September 2018

140

600

740

DEPRECIATION

At 1 October 2017

85

354

439

Charge for year

11

49

60

At 30 September 2018

96

403

499

NET BOOK VALUE

At 30 September 2018

44

197

241

At 30 September 2017

55

246

301

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Other debtors

7,438

7,876

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade creditors

754

782

Taxation and social security

17,596

11,735

Other creditors

5,437

5,136

23,787

17,653

9.

RESERVES

Retained

earnings

£

At 1 October 2017

(35

)

Profit for the year

32,901

Dividends

(32,500

)

At 30 September 2018

366

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2018 and

30 September 2017:

30.9.18

30.9.17

£

£

M Taylor

Balance outstanding at start of year

7,876

12,184

Amounts advanced

46,538

35,349

Amounts repaid

(46,976

)

(39,657

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,438

7,876