B L Autos & Sons Ltd,Ltd - AccountsLtd - Accounts

B L Autos & Sons Ltd,Ltd - AccountsLtd - Accounts


2017-03-01041604432018-02-28041604432017-03-012018-02-28041604432017-02-28041604432016-03-012017-02-2804160443uk-core:WithinOneYear2017-02-2804160443uk-core:WithinOneYear2018-02-2804160443uk-core:ShareCapital2018-02-2804160443uk-core:ShareCapital2017-02-2804160443uk-core:RetainedEarningsAccumulatedLosses2018-02-2804160443uk-core:RetainedEarningsAccumulatedLosses2017-02-2804160443uk-bus:Director12017-03-012018-02-2804160443uk-core:ToolsEquipment2017-03-012018-02-2804160443uk-core:Vehicles2017-03-012018-02-2804160443uk-core:FurnitureFittings2017-03-012018-02-2804160443uk-core:ToolsEquipment2017-02-2804160443uk-core:FurnitureFittings2017-02-2804160443uk-core:Vehicles2017-02-2804160443uk-core:Vehicles2018-02-2804160443uk-core:FurnitureFittings2018-02-2804160443uk-core:ToolsEquipment2018-02-28iso4217:GBP04160443uk-bus:AuditExemptWithAccountantsReport2017-03-012018-02-2804160443uk-bus:FRS1022017-03-012018-02-2804160443uk-bus:FullAccounts2017-03-012018-02-2804160443uk-bus:PrivateLimitedCompanyLtd2017-03-012018-02-28
B L Autos & Sons Ltd
Registered Number:04160443
For the year ended 28 February 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2018
B L Autos & Sons Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 28 February 2018
B L Autos & Sons Ltd
Statement of Financial Position
Registered Number :
04160443
£
£
2017
2018
Notes
Fixed assets
Property, plant and equipment
7,170
6,212
2
7,170
6,212
Current assets
Inventories
5,092
4,435
3
Trade and other receivables
12,785
9,774
4
6,062
Cash and cash equivalents
2,051
16,260
23,939
Trade and other payables: amounts falling due within one
year
(59,652)
(58,191)
5
(35,713)
(41,931)
Net current liabilities
Total assets less current liabilities
(34,761)
(29,501)
(34,761)
Net liabilities
(29,501)
Capital and reserves
Called up share capital
100
100
Retained earnings
(34,861)
(29,601)
(34,761)
(29,501)
Shareholders' funds
For the year ended 28 February 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr R B Lowdell Director
These financial statements were approved and authorised for issue by the Board on 27 November 2018 and were signed by:
The notes form part of these financial statements
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4
For the year ended 28 February 2018
B L Autos & Sons Ltd
Notes to the Financial Statements
Statutory Information
B L Autos & Sons Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04160443.
Registered address:
8 Southfields
Welwyn Garden City
Hertfordshire
AL7 4ST
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are
dependent upon the continued support of the directors who have undertaken to provide such support for the
foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to
their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current
assets and long term liabilities as current liabilities.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
33% Straight line
Computer equipment
25% Reducing balance
Vehicles
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 28 February 2018
B L Autos & Sons Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Vehicles
£
£
£
£
Cost or
valuation
At 01 March 2017
14,692
2,225
10,867
1,600
2,800
1,000
-
1,800
Additions
At 28 February 2018
3,400
10,867
3,225
17,492
Provision for depreciation and impairment
At 01 March 2017
8,480
1,869
5,348
1,263
Charge for year
1,842
587
828
427
At 28 February 2018
10,322
2,456
6,176
1,690
At 28 February 2018
Net book value
1,710
4,691
769
7,170
At 28 February 2017
337
5,519
356
6,212
3. Inventories
2017
2018
£
£
Stocks
4,435
5,092
4. Trade and other receivables
2017
2018
£
£
Trade debtors
5,506
7,938
Other debtors
4,268
4,847
12,785
9,774
5. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Trade creditors
28,851
31,573
Taxation and social security
1,428
1,605
Other creditors
27,912
26,474
58,191
59,652
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