Bubble Construction Limited - Accounts

Bubble Construction Limited - Accounts

BUBBLE CONSTRUCTION LIMITED - Company Information

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Bubble Construction Limited
Report and Accounts
For the Year Ended
31 January 2017
Company Number
05751357
Bubble Construction Limited
Report and Accounts
Year Ending 31 January 2017
Contents Page
Company Information 2
Report of the Directors 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Accounts 6 to 7
Company Information
Director
Mr Stephen Marks
Registered Office
2 The Precinct
Rest Bay
Porthcawl
Glamorgan
CF36 3RF
Bubble Construction Limited
Report of the Directors
The director presents a report and financial statements for the year ended 31 January 2017
Principal Activities
The principal activity of the company is the provision of contract services.
Directors
The directors who served during the period and their interest in the shares of the company at the
beginning and end of the period were as follows:
Ordinary Shares of one GBP each
31 January 2017 31 January 2016
Mr Stephen Marks 99 99
Small Company
Advantage has been taken of special exemptions applicable to small companies in the preparation
of this report
Registered Office On behalf of the board
2 The Precinct
Rest Bay
Porthcawl _________________
CF36 3RF Mr Stephen Marks
This report was approved by the board on 10 September 2017 and signed on its behalf
Bubble Construction Limited
Trading and Profit and Loss Account
Year Ending 31 January 2017
Note 2017 2016
No. £ £
Turnover 1 235807 212388
Less Cost of Sales 180550 142329
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Gross Profit 55257 70059
Administrative Expenses 56260 43281
-------- --------
Operating Profit 2 -1003 26778
Interest Received 0 0
Interest Payable 0 0
-------- --------
Profit on Ordinary Activities Before Taxation -1003 26778
Taxation 4 385 3564
-------- --------
Profit on Ordinary Activities After Taxation -1388 23214
Dividends Paid 0 14000
-------- --------
Retained Surplus Transferred to Reserves 8 -1388 9214
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Total Recognised Gains And Losses
There are no other gains or losses for the year other than those going through the profit and loss
account.
Continuing Activities
All income and expenses are from continuing activities.
Bubble Construction Limited
Balance Sheet As At
31 January 2017
Note 2017 2017 2016 2016
No. £ £ £ £
Fixed Assets Intangible Assets 5 91438 91438
Tangible Assets 5 11599 1749
-------- --------
Total Fixed Assets 5 103037 93187
Current Assets:
Bank account 20759 45289
Trade debtors 2450 1612
Work in progress 4733 4388
Directors loan account 0 0
-------- --------
27942 51289
Creditors:
Amounts Falling due Within One Year 6 23853 18559
-------- --------
Net Current Assets 4089 32730
-------- --------
Total Assets Less Current Liabilities 107126 125917
Creditors: Amounts Falling due after One Year 109969 127372
-------- --------
Total Assets Less Total Liabilities -2843 -1455
===== =====
Capital and Reserves 2017 2016
£ £
Called up Share Capital 7 100 100
Profit and Loss Account 8 -2943 -1555
-------- --------
Shareholders Funds 8 -2843 -1455
===== =====
The financial statements are hereby approved by the board of directors.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an
audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies
act 2006 with respect to accounting records and the preperation of accounts. This statement fully
complies with section 475 of the Companies Act 2006.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act
2006 applicable to companies subject to the small companies regime.
Mr Stephen Marks 10 September 2017
____________________ (director) _________________ Date
Bubble Construction Limited
Notes to the Accounts
Year Ending 31 January 2017
1. Accounting Policies
(a) The accounts have been prepared under the Historical Cost Convention. The principal policies
which the directors have adopted within that convention are set out below.
(b) Depreciation is provided on tangible fixed assets each year in order to write their value down
over their estimated lives. The rates that apply are as follows:
Office equipment 40%
Plant and equipment 15%
(c) The charge for taxation is based on the profit for the year and takes into account taxation
deferred because of timing differences between the treatment of certain items for accounting and
taxation purposes. Provision for deferred taxation is made under the liability method only to the
extent that it is probable that the liability will become payable in the foreseeable future.
(d) Turnover is stated as invoices issued, net of value added tax payable.
2. Operating Profit 2017 2016
£ £
Operating profit is arrived at after charging:
Depreciation on tangible fixed assets 7462 3351
3. Directors Emoluments
The amounts received by the directors were as follows:
Management remuneration 11362 10508
4. Deferred Tax
No provision has been made in respect of deferred taxation. The total potential provision
would have been nil.
5. Fixed Assets
Non Depreciating Tangible Fixed Assets
Land and Building Motor Plant & Office Total
Cost Van Equipment Equipment £
Opening balance 91438 10500 5138 3173 18811
Additions 0 16944 318 50 17312
Disposals 0 0 0 0 0
Closing balance 91438 27444 5456 3223 36123
Depreciation
Opening balance 0 11483 2902 2677 17062
Charge for the year 0 6861 383 218 7462
Disposals 0 0 0 0 0
Closing balance 0 18344 3285 2895 24524
Net Book Value
Closing balance 91438 9100 2171 328 11599
Bubble Construction Limited
Notes to the Accounts (Continued)
Year Ending 31 January 2017
6. Creditors: due within one year. 2017 2016
£ £
Creditors and accruals 865 865
Corporation tax 385 3564
Paye and ni 1291 1168
VAT 13865 1679
Mortgage account 914 914
Credit card account 6033 9869
Bonds held 500 500
Bank overdraft 0 0
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23853 18559
====== ======
7. Creditors: due after one year.
Directors loan account 51470 68873
Mortgage account 58499 58499
---------- ----------
109969 127372
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8. Share Capital
Allocated, called up and fully paid
Ordinary shares of one GBP each 100 100
====== ======
9. Shareholders Funds Share Profit & Shareholders
Capital Loss a/c Funds
£ £ £
Opening balance 100 -1555 -1455
Results for the year 0 -1388 -1388
---------- ---------- ----------
31 January 2017 100 -2943 -2843
====== ====== ======
10. Controlling Parties
Directors and a controlling party of the company within the definition contained in FRS 8 are identified as:
Mr Stephen Marks
This is the end of the statutory financial statements
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