B. Walker Skip Hire Limited - Accounts to registrar (filleted) - small 18.2
B. Walker Skip Hire Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| B. Walker Skip Hire Limited |
| Unaudited Financial Statements for the Year Ended 31 October 2017 |
| B. Walker Skip Hire Limited (Registered number: 04817105) |
| Contents of the Financial Statements |
| for the year ended 31 October 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| B. Walker Skip Hire Limited |
| Company Information |
| for the year ended 31 October 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire HU2 8BA |
| B. Walker Skip Hire Limited (Registered number: 04817105) |
| Balance Sheet |
| 31 October 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| B. Walker Skip Hire Limited (Registered number: 04817105) |
| Notes to the Financial Statements |
| for the year ended 31 October 2017 |
| 1. | STATUTORY INFORMATION |
| B. Walker Skip Hire Limited is a |
| 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 |
| The significant accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented unless otherwise stated. The company |
| adopted FRS 102 in the current year and an explanation of how transition to FRS 102 has affected the reported |
| financial position and performance is given in the notes to the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
| discounts. The policies adopted for the recognition of turnover are as follows: |
| Sale of goods |
| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods |
| have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic |
| benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in |
| respect of the transaction can be measured reliably. This is usually on dispatch of the goods. |
| Rendering of services |
| When the outcome of a transaction can be estimated reliably, turnover from skip hire is recognised by reference |
| to the stage of completion at the balance sheet date. Stage of completion is measured by reference to hire |
| periods. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life |
| or, if held under a finance lease, over the term of the lease, whichever is the shorter. |
| Long leasehold | - 2% on cost |
| Improvements to property | - 2% on cost |
| Plant and machinery | - 15% on reducing balance |
| Fixtures and fittings | - 15% on reducing balance |
| Computer equipment | - 33% on cost |
| Motor vehicles | - 25% on reducing balance |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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. |
| B. Walker Skip Hire Limited (Registered number: 04817105) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the |
| expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the |
| reduction of the outstanding lease liability using the effective interest method. The related obligations, net of |
| future finance charges, are included in creditors. |
| Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight |
| line basis over the period of the lease. |
| Employee benefits |
| When employees have rendered service to the company, short term employee benefits to which the employees |
| are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
| The company operated a defined contribution plan for the benefit of its employees. Contributions are expensed |
| as they become payable. |
| Operating leases |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Long | to | Plant and |
| leasehold | property | machinery |
| £ | £ | £ |
| COST |
| At 1 November 2016 |
| Additions |
| At 31 October 2017 |
| DEPRECIATION |
| At 1 November 2016 |
| Charge for year |
| Eliminated on disposal |
| At 31 October 2017 |
| NET BOOK VALUE |
| At 31 October 2017 |
| At 31 October 2016 |
| B. Walker Skip Hire Limited (Registered number: 04817105) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2017 |
| DEPRECIATION |
| At 1 November 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2017 |
| NET BOOK VALUE |
| At 31 October 2017 |
| At 31 October 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 3,956 | - |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| B. Walker Skip Hire Limited (Registered number: 04817105) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2017 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2017 | 2016 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2017 and |
| 31 October 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company was controlled throughout the year by B. Walker by virtue of his majority shareholding. |
| B. Walker Skip Hire Limited (Registered number: 04817105) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2017 |
| 12. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 for the first time in the year ended 31st October 2017. |
| The effect of transition from the previous financial reporting framework is outlined below: |
| 1) Changes in accounting policies |
| There were no consequential changes in accounting policies as a result of the transition to FRS 102 Section 1A. |
| 2) Reconciliation of equity |
| There were no adjustments to previously reported equity shareholders' funds of the company at the date of |
| transition to FRS 102 Section 1A. |
| 3) Reconciliation of comparative period profit or loss |
| There were no adjustments to the previously reported profit or loss in the comparative period. |