BS Knapp LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03345540 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018

FOR

BS KNAPP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P S Knapp

M S Palmer

D J Palmer

REGISTERED OFFICE:

194 North Road

Stoke Gifford

South Gloucestershire

BS34 8PH

REGISTERED NUMBER:

03345540 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Tangible assets

4

29,582

3,989

CURRENT ASSETS

Stocks

21,355

1,000

Debtors

5

34,784

46,342

Cash at bank and in hand

5,171

6,470

61,310

53,812

CREDITORS

Amounts falling due within one year

6

74,279

56,091

NET CURRENT LIABILITIES

(12,969

)

(2,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,613

1,710

CREDITORS

Amounts falling due after more than one year

7

(15,374

)

-

PROVISIONS FOR LIABILITIES

(277

)

(1,300

)

NET ASSETS

962

410

CAPITAL AND RESERVES

Called up share capital

8

3

3

Retained earnings

9

959

407

SHAREHOLDERS' FUNDS

962

410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 January 2019 and were signed on its behalf by:

P S Knapp - Director

1.	STATUTORY INFORMATION

BS Knapp LTD 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, net of

discounts and value added taxes. Turnover includes revenue earned from the sale of goods

and from the rendering of services.

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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% 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 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.

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 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2017

7,231

10,831

21,561

39,623

Additions

-

2,418

30,570

32,988

At 30 April 2018

7,231

13,249

52,131

72,611

DEPRECIATION

At 1 May 2017

6,387

9,238

20,009

35,634

Charge for year

169

802

6,424

7,395

At 30 April 2018

6,556

10,040

26,433

43,029

NET BOOK VALUE

At 30 April 2018

675

3,209

25,698

29,582

At 30 April 2017

844

1,593

1,552

3,989

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

follows:

Motor

vehicles

£

COST

Additions

30,570

At 30 April 2018

30,570

DEPRECIATION

Charge for year

6,114

At 30 April 2018

6,114

NET BOOK VALUE

At 30 April 2018

24,456

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

13,596

2,140

Other debtors

1

-

Directors' current accounts

21,187

44,202

34,784

46,342

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts

3,848

-

Trade creditors

37,155

23,719

Tax

20,841

9,354

Social security and other taxes

3,185

1,219

VAT

6,666

21,856

Other creditors

334

(2,307

)

Accrued expenses

2,250

2,250

74,279

56,091

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts

15,374

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

3

Ordinary

1

3

3

9.

RESERVES

Retained

earnings

£

At 1 May 2017

407

Profit for the year

86,502

Dividends

(85,950

)

At 30 April 2018

959

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

30 April 2018 and 30 April 2017:

30.4.18

30.4.17

£

£

P S Knapp

Balance outstanding at start of year

22,485

-

Amounts advanced

8,818

22,485

Amounts repaid

(17,908

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,395

22,485

M S Palmer

Balance outstanding at start of year

9,774

-

Amounts advanced

7,850

9,774

Amounts repaid

(13,700

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,924

9,774

D J Palmer

Balance outstanding at start of year

9,517

-

Amounts advanced

7,850

9,517

Amounts repaid

(13,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,867

9,517

11.	RELATED PARTY DISCLOSURES

The company maintains an interest free loan with its directors. At the year end, the company

was owed a total of £21,187 (2017: £41,777) by its directors.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.