Business Supplies (North Wales) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03272905 (England and Wales)

Business Supplies (North Wales) Limited

Trading as

Office Envy

Unaudited Financial Statements

for the year ended

31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P C Rutt

Mrs T L Gabriel-Rutt

SECRETARY:

REGISTERED OFFICE:

The Smart Centre

Tenth Avenue

Zone 3

Deeside Industrial Estate

Flintshire

CH5 2UA

REGISTERED NUMBER:

03272905 (England and Wales)

ACCOUNTANTS:

Gardners Accountants Limited

Chartered Accountants

Brynford House

21 Brynford Street

Holywell

Flintshire

CH8 7RD

FIXED ASSETS

Tangible assets

4

16,124

7,984

CURRENT ASSETS

Stocks

12,466

11,770

Debtors

5

109,284

65,847

Cash at bank and in hand

5,087

19,697

126,837

97,314

CREDITORS

Amounts falling due within one year

6

126,007

80,265

NET CURRENT ASSETS

830

17,049

TOTAL ASSETS LESS CURRENT LIABILITIES

16,954

25,033

CREDITORS

Amounts falling due after more than one year

7

-

702

NET ASSETS

16,954

24,331

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

16,854

24,231

SHAREHOLDERS' FUNDS

16,954

24,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 4 May 2018 and were signed on its behalf by:

Mrs T L Gabriel-Rutt - Director

1.	STATUTORY INFORMATION

Business Supplies (North Wales) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 lease term, whichever is the shorter.

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

3,465

33,166

1,940

38,571

Additions

3,295

15,295

1,511

20,101

Disposals

-

(33,166

)

-

(33,166

)

At 31 December 2017

6,760

15,295

3,451

25,506

DEPRECIATION

At 1 January 2017

3,465

25,182

1,940

30,587

Charge for year

473

3,206

298

3,977

Eliminated on disposal

-

(25,182

)

-

(25,182

)

At 31 December 2017

3,938

3,206

2,238

9,382

NET BOOK VALUE

At 31 December 2017

2,822

12,089

1,213

16,124

At 31 December 2016

-

7,984

-

7,984

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2017

10,995

Transfer to ownership

(10,995

)

At 31 December 2017

-

DEPRECIATION

At 1 January 2017

5,970

Transfer to ownership

(5,970

)

At 31 December 2017

-

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

5,025

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

99,863

65,313

Other debtors

9,421

534

109,284

65,847

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

2,809

Trade creditors

39,428

26,493

Taxation and social security

9,612

29,057

Other creditors

76,967

21,906

126,007

80,265

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

702