Bca Insulation Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC323584 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2017

for

Bca Insulation Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

9

DIRECTORS:

W Shaw

Mrs K Shaw

D W H Walton

SECRETARY:

Mrs K Shaw

REGISTERED OFFICE:

1

Cambuslang Court

Cambuslang

Glasgow

Lanarkshire

G32 8FH

REGISTERED NUMBER:

SC323584 (Scotland)

ACCOUNTANTS:

Turner Accountancy Ltd

17-19 Motherwell Road

Carfin

ML1 4EB

FIXED ASSETS

Intangible assets

4

26,621

39,932

Tangible assets

5

73,797

90,935

100,418

130,867

CURRENT ASSETS

Stocks

405,650

284,753

Debtors

6

554,467

755,443

Cash at bank

37,970

153,391

998,087

1,193,587

CREDITORS

Amounts falling due within one year

7

608,567

688,628

NET CURRENT ASSETS

389,520

504,959

TOTAL ASSETS LESS CURRENT LIABILITIES

489,938

635,826

CREDITORS

Amounts falling due after more than one year

8

(17,556

)

(168,258

)

PROVISIONS FOR LIABILITIES

-

(15,046

)

NET ASSETS

472,382

452,522

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

462,382

442,522

SHAREHOLDERS' FUNDS

472,382

452,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 August 2018 and were signed on its behalf by:

W Shaw - Director

1.	STATUTORY INFORMATION

Bca Insulation Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after

making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the statement of financial position 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.

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.

Debt factoring

Customer debts are factored on a monthly basis by the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2016

and 30 November 2017

133,103

AMORTISATION

At 1 December 2016

93,171

Charge for year

13,311

At 30 November 2017

106,482

NET BOOK VALUE

At 30 November 2017

26,621

At 30 November 2016

39,932

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2016

124,839

133,800

258,639

Additions

4,819

4,083

8,902

Disposals

(6,000

)

(4,300

)

(10,300

)

At 30 November 2017

123,658

133,583

257,241

DEPRECIATION

At 1 December 2016

93,582

74,122

167,704

Charge for year

3,672

14,920

18,592

Eliminated on disposal

-

(2,852

)

(2,852

)

At 30 November 2017

97,254

86,190

183,444

NET BOOK VALUE

At 30 November 2017

26,404

47,393

73,797

At 30 November 2016

31,257

59,678

90,935

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Trade debtors

383,904

444,837

Other debtors

36,793

54,335

Directors' current accounts

122,701

193,173

Tax

10,016

54,230

VAT

-

6,705

Prepayments

1,053

2,163

554,467

755,443

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Bank loans and overdrafts

23,636

113,363

Other loans

23,085

-

Hire purchase contracts

18,749

19,624

Trade creditors

254,577

380,284

Tax

11,396

31,283

Social security and other taxes

27,199

9,606

VAT

2,408

-

Other creditors

568

757

Factor account

154,603

10,601

Remedial works

15,952

55,331

Credit card

10,800

10,227

Accrued expenses

65,594

57,552

608,567

688,628

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.17

30.11.16

£

£

Bank loans - 1-2 years

15,257

19,304

Bank loans - 2-5 years

2,299

51,166

Bank loans more 5 yr by instal

-

74,697

Other loans - 1-2 years

-

6,418

Hire purchase contracts

-

16,673

17,556

168,258

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

74,697

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

30 November 2017 and 30 November 2016:

30.11.17

30.11.16

£

£

W Shaw

Balance outstanding at start of year

96,586

-

Amounts advanced

-

96,586

Amounts repaid

(35,236

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,350

96,586

Mrs K Shaw

Balance outstanding at start of year

96,587

-

Amounts advanced

-

96,587

Amounts repaid

(35,236

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,351

96,587

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 Statement of Financial Position. 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.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 November 2017 set out on pages three to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Turner Accountancy Ltd

17-19 Motherwell Road

Carfin

ML1 4EB

Date: .............................................