BHW Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01342461 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2017

FOR

BHW GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E.E. Ayres

R.D. Ayres

V.L. Ayres

R.M. Ayres

SECRETARY:

V.L. Ayres

REGISTERED OFFICE:

Unit 7, Lismirrane Industrial Park

Elstree Road

Elstree

Borehamwood

Hertfordshire

WD6 3EE

REGISTERED NUMBER:

01342461 (England and Wales)

ACCOUNTANTS:

Sproull & Co.

Chartered Accountants

31-33 College Road

Harrow

Middlesex

HA1 1EJ

FIXED ASSETS

Intangible assets

4

4,000

4,000

Tangible assets

5

1,113,922

542,477

Investments

6

614,236

614,236

1,732,158

1,160,713

CURRENT ASSETS

Stocks

1,028,888

890,783

Debtors

7

818,811

792,777

Cash at bank and in hand

176,752

105,981

2,024,451

1,789,541

CREDITORS

Amounts falling due within one year

8

1,016,210

706,697

NET CURRENT ASSETS

1,008,241

1,082,844

TOTAL ASSETS LESS CURRENT LIABILITIES

2,740,399

2,243,557

CREDITORS

Amounts falling due after more than one year

9

(409,401

)

(5,590

)

PROVISIONS FOR LIABILITIES

11

(25,217

)

(27,587

)

NET ASSETS

2,305,781

2,210,380

CAPITAL AND RESERVES

Called up share capital

47,300

47,300

Revaluation reserve

213,029

209,650

Capital redemption reserve

2,700

2,700

Retained earnings

2,042,752

1,950,730

SHAREHOLDERS' FUNDS

2,305,781

2,210,380

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20th September 2018 and were signed on its behalf by:

R.D. Ayres - Director

E.E. Ayres - Director

1.	STATUTORY INFORMATION

BHW Group 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 as modified by the revaluation of certain assets.

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 purchased in 2003 was written off evenly over its estimated useful life of ten years.

Patents and licences

The directors consider that the residual value of the patents and licences are at least equivalent to their original

cost and therefore any amortisation thereof is considered immaterial.

Tangible fixed assets

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

Freehold property

-

depreciation is not provided

Short leasehold

-

straight line over the life of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on cost

The company has a policy and practice of continued maintenance and repair such that the freehold property is

maintained at a high standard. The directors therefore consider that the residual value of the property is higher

than its original cost and hence any depreciation charge and accumulated depreciation would be immaterial.

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 Account,

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.

Deferred tax is also provided on the unrealised gains in the value of the freehold property. It is measured using

tax rates and laws that would have applied had the company sold the freehold property at its book value.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 depreciation in accordance with the fixed relevant asset accounting policy.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company contributes to personal pension schemes for directors and employees. The assets of the schemes

are held by an independent pension provider. The amount charged to the profit and loss account is the

contributions payable in the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2016 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st January 2017

and 31st December 2017

26,000

4,000

30,000

AMORTISATION

At 1st January 2017

and 31st December 2017

26,000

-

26,000

NET BOOK VALUE

At 31st December 2017

-

4,000

4,000

At 31st December 2016

-

4,000

4,000

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST OR VALUATION

At 1st January 2017

430,000

44,558

179,457

Additions

575,795

-

-

At 31st December 2017

1,005,795

44,558

179,457

DEPRECIATION

At 1st January 2017

-

44,558

174,190

Charge for year

-

-

1,327

Eliminated on disposal

-

-

-

At 31st December 2017

-

44,558

175,517

NET BOOK VALUE

At 31st December 2017

1,005,795

-

3,940

At 31st December 2016

430,000

-

5,267

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1st January 2017

264,408

106,221

170,794

1,195,438

Additions

-

-

30,434

606,229

Disposals

-

-

(16,078

)

(16,078

)

At 31st December 2017

264,408

106,221

185,150

1,785,589

DEPRECIATION

At 1st January 2017

213,046

58,448

162,719

652,961

Charge for year

5,136

11,943

16,378

34,784

Eliminated on disposal

-

-

(16,078

)

(16,078

)

At 31st December 2017

218,182

70,391

163,019

671,667

NET BOOK VALUE

At 31st December 2017

46,226

35,830

22,131

1,113,922

At 31st December 2016

51,362

47,773

8,075

542,477

The historic cost of all freehold properties held is £779,109. This includes one property with a historic cost of

£203,314 which, following a previous policy of revaluation, was brought up to the current book value of

£430,000 in December 2013.

In line with options available for companies upon adoption of Financial Reporting Standard 102, this freehold

property valuation is being carried as deemed cost.

Properties acquired since the introduction of Financial Reporting Standard 102 are shown at original cost.

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2017

and 31st December 2017

614,236

NET BOOK VALUE

At 31st December 2017

614,236

At 31st December 2016

614,236

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

763,246

705,523

Other debtors

55,565

87,254

818,811

792,777

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

115,469

137,654

Hire purchase contracts

5,590

12,914

Trade creditors

490,805

318,868

Amounts owed to group undertakings

300

300

Taxation and social security

155,297

104,538

Other creditors

248,749

132,423

1,016,210

706,697

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

409,401

-

Hire purchase contracts

-

5,590

409,401

5,590

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

139,989

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

17,874

137,654

Bank loans

506,996

-

524,870

137,654

Security provided:

Debenture dated 16th January 1995 incorporating all assets of the company.

Legal charges dated 5th November 1997 and 24th March 2017 over the company's freehold properties.

Unlimited inter-company guarantee dated 21st June 2007 between the company and it's subsidiary Winchmaster

Limited.

11.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Deferred tax

27,587

33,516

Deferred tax movement

(2,370

)

(5,929

)

25,217

27,587

Deferred

tax

£

Balance at 1st January 2017

27,587

Accelerated capital allowances

1,009

Freehold property revaluation

(3,379

)

Balance at 31st December 2017

25,217