Beaumont Building Limited - Period Ending 2017-09-30
Beaumont Building Limited - Period Ending 2017-09-30
Registration number:
Beaumont Building Limited
for the Year Ended 30 September 2017
Salisbury House
20 Queens Road
Weybridge
Surrey
KT13 9XE
Beaumont Building Limited
Contents
Company Information |
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Directors' Report |
|
Abridged Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Abridged Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Abridged Financial Statements |
Beaumont Building Limited
Company Information
Directors |
Mrs Sally Beaumont Mr Paul Beaumont |
Registered office |
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Accountants |
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Page 1 |
Beaumont Building Limited
Directors' Report for the Year Ended 30 September 2017
The directors present their report and the abridged financial statements for the year ended 30 September 2017.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is Construction of domestic buildings
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
.........................................
Mrs Sally Beaumont
Director
Page 2 |
Beaumont Building Limited
Abridged Profit and Loss Account for the Year Ended 30 September 2017
Note |
Total |
Total |
|
Gross profit/(loss) |
|
( |
|
Distribution costs |
( |
( |
|
Administrative expenses |
( |
( |
|
Interest payable and similar expenses |
- |
( |
|
Profit/(loss) before tax |
|
( |
|
Profit/(loss) for the financial year |
|
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 3 |
Beaumont Building Limited
Statement of Comprehensive Income for the Year Ended 30 September 2017
Note |
2017 |
2016 |
|
Profit/(loss) for the year |
|
( |
|
Total comprehensive income for the year |
|
( |
Page 4 |
Beaumont Building Limited
(Registration number: 05223779)
Abridged Balance Sheet as at 30 September 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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|
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Cash at bank and in hand |
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|
|
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Prepayments and accrued income |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
( |
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Accruals and deferred income |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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|
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Page 5 |
Beaumont Building Limited
(Registration number: 05223779)
Abridged Balance Sheet as at 30 September 2017
Approved and authorised by the
.........................................
Mrs Sally Beaumont
Director
Page 6 |
Beaumont Building Limited
Statement of Changes in Equity for the Year Ended 30 September 2017
Share capital |
Profit and loss account |
Total |
|
At 1 October 2016 |
|
( |
( |
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
At 30 September 2017 |
|
( |
( |
Share capital |
Profit and loss account |
Total |
|
At 1 October 2015 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 September 2016 |
|
( |
( |
Page 7 |
Beaumont Building Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
UK
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
20% reducing balance |
Motor cars |
20% reducing balance |
Page 8 |
Beaumont Building Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 9 |
Beaumont Building Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit/loss before tax |
Arrived at after charging/(crediting)
2017 |
2016 |
|
Depreciation expense |
|
|
Tangible assets |
Total |
|
Cost or valuation |
|
At 1 October 2016 |
|
At 30 September 2017 |
|
Depreciation |
|
At 1 October 2016 |
|
Charge for the year |
|
At 30 September 2017 |
|
Carrying amount |
|
At 30 September 2017 |
|
At 30 September 2016 |
|
Related party transactions |
Page 10 |
Beaumont Building Limited
Detailed Profit and Loss Account for the Year Ended 30 September 2017
2017 |
2016 |
|
Turnover (analysed below) |
1,265,541 |
1,475,861 |
Cost of sales (analysed below) |
(1,079,085) |
(1,477,765) |
Gross profit/(loss) |
186,456 |
(1,904) |
Gross profit (%) |
14.73% |
(0.13)% |
Distribution costs (analysed below) |
(4,361) |
(5,451) |
Administrative expenses |
||
Employment costs (analysed below) |
(32,072) |
(20,166) |
Establishment costs (analysed below) |
(19,977) |
(12,730) |
General administrative expenses (analysed below) |
(63,262) |
(81,318) |
Finance charges (analysed below) |
(243) |
(219) |
Depreciation costs (analysed below) |
(1,601) |
(1,600) |
(117,155) |
(116,033) |
|
Operating profit/(loss) |
64,940 |
(123,388) |
Interest payable and similar expenses (analysed below) |
- |
(26) |
Profit/(loss) before tax |
64,940 |
(123,414) |
Page 11 |
Beaumont Building Limited
Detailed Profit and Loss Account for the Year Ended 30 September 2017
2017 |
2016 |
Turnover |
||
Sale of goods, UK |
1,265,541 |
1,475,848 |
Interest received |
- |
13 |
1,265,541 |
1,475,861 |
Cost of sales |
||
Purchases |
445,853 |
546,115 |
Direct costs |
60,933 |
63,962 |
Subcontract cost |
560,459 |
852,887 |
Hire of plant and machinery (Spot hire) |
11,840 |
14,801 |
1,079,085 |
1,477,765 |
Distribution costs |
||
Depreciation of motor vehicles |
4,361 |
5,451 |
Employment costs |
||
Directors remuneration |
(22,497) |
(20,166) |
Directors NIC (Employers) |
(797) |
- |
Private health insurance |
(8,778) |
- |
(32,072) |
(20,166) |
Establishment costs |
||
Rent |
(5,002) |
(4,359) |
Insurance |
(14,975) |
(8,271) |
Repairs and renewals |
- |
(100) |
(19,977) |
(12,730) |
General administrative expenses |
||
Telephone and fax |
(3,851) |
(4,966) |
Computer software and maintenance costs |
(1,262) |
(806) |
Printing, postage and stationery |
(1,339) |
(1,666) |
Trade subscriptions |
(141) |
- |
Tools and equipment |
(13,555) |
(6,599) |
Sundry expenses |
(9,008) |
(25,228) |
Cleaning |
(1,311) |
(2,651) |
Motor expenses |
(13,383) |
(19,881) |
Travel and subsistence |
(930) |
(620) |
Advertising |
(3,787) |
(554) |
Customer entertaining (disallowable for tax) |
(527) |
(3,309) |
Accountancy fees |
(5,270) |
(5,714) |
Consultancy fees |
(1,802) |
(140) |
Legal and professional fees |
(2,929) |
(2,080) |
Bad debts written off |
(4,167) |
(7,104) |
Page 12 |
Beaumont Building Limited
Detailed Profit and Loss Account for the Year Ended 30 September 2017
(63,262) |
(81,318) |
Finance charges |
||
Bank charges |
(243) |
(219) |
Depreciation costs |
||
Depreciation of office equipment (owned) |
(1,601) |
(1,600) |
Page 13 |