Bridgwater Filters Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00485613 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

BRIDGWATER FILTERS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A Bridgwater

F G Wayt

SECRETARY:

A Bridgwater

REGISTERED OFFICE:

Suite No. 2, Centre Court

Vine Lane

Halesowen

West Midlands

B63 3EB

BUSINESS ADDRESS:

George Street

West Bromwich

West Midlands

B70 6NJ

REGISTERED NUMBER:

00485613 (England and Wales)

ACCOUNTANTS:

Bowker, Stevens & Co

Suite No. 2, Centre Court

Vine Lane

Halesowen

West Midlands

B63 3EB

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Bridgwater Filters Limited for the year ended 31 March 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bridgwater Filters Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bridgwater Filters Limited and state those matters that we have agreed to state to the Board of Directors of Bridgwater Filters Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bridgwater Filters Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bridgwater Filters Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bridgwater Filters Limited. You consider that Bridgwater Filters Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bridgwater Filters Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bowker, Stevens & Co

Suite No. 2, Centre Court

Vine Lane

Halesowen

West Midlands

B63 3EB

30 December 2019

FIXED ASSETS

Tangible assets

4

191,619

182,890

CURRENT ASSETS

Stocks

305,996

333,570

Debtors

5

138,306

150,708

Cash at bank and in hand

46,736

38,970

491,038

523,248

CREDITORS

Amounts falling due within one year

6

104,503

160,862

NET CURRENT ASSETS

386,535

362,386

TOTAL ASSETS LESS CURRENT LIABILITIES

578,154

545,276

PROVISIONS FOR LIABILITIES

1,992

-

NET ASSETS

576,162

545,276

CAPITAL AND RESERVES

Called up share capital

309

309

Revaluation reserve

7

88,117

88,117

Retained earnings

487,736

456,850

SHAREHOLDERS' FUNDS

576,162

545,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 December 2019 and were signed on its behalf by:

A Bridgwater - Director

1.	STATUTORY INFORMATION

Bridgwater Filters 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 as modified by the revaluation of certain assets.

The directors have reviewed the state of the company's affairs for the year to date and are confident that the

company will continue to be able to meet its liabilities and have therefore adopted the going concern basis of

accounting.

Turnover

Turnover represents amounts receivable for goods and services provided in the UK and overseas, net of trade

discounts, VAT and other related taxes.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all

costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and

slow-moving stock where appropriate.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2018 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 April 2018

180,000

27,263

31,596

At 31 March 2019

180,000

27,263

31,596

DEPRECIATION

At 1 April 2018

-

26,886

30,892

Charge for year

-

75

141

At 31 March 2019

-

26,961

31,033

NET BOOK VALUE

At 31 March 2019

180,000

302

563

At 31 March 2018

180,000

377

704

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2018

7,500

13,072

259,431

Additions

-

10,629

10,629

At 31 March 2019

7,500

23,701

270,060

DEPRECIATION

At 1 April 2018

7,095

11,668

76,541

Charge for year

101

1,583

1,900

At 31 March 2019

7,196

13,251

78,441

NET BOOK VALUE

At 31 March 2019

304

10,450

191,619

At 31 March 2018

405

1,404

182,890

Cost or valuation at 31 March 2019 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 2016

44,871

-

-

Cost

135,129

27,263

31,596

180,000

27,263

31,596

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2016

-

-

44,871

Cost

7,500

23,701

225,189

7,500

23,701

270,060

If the freehold property had not been revalued it would have been included at the following historical cost:

31.3.19

31.3.18

£

£

Cost

135,129

135,129

Aggregate depreciation

62,167

59,464

Freehold land and buildings were valued on an open market basis on 5 June 2016 by Scriven & Co. Chartered Surveyors

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

124,760

140,653

Other debtors

13,546

10,055

138,306

150,708

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

25,490

49,304

Taxation and social security

28,384

32,653

Other creditors

50,629

78,905

104,503

160,862

7.

RESERVES

Revaluation

reserve

£

At 1 April 2018

and 31 March 2019

88,117

8.	RELATED PARTY DISCLOSURES