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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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BEVERLEY VENEERS LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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FOR |
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BEVERLEY VENEERS LIMITED |
BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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Page |
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Statement of Financial Position | 1 |
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Notes to the Financial Statements | 2 |
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BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099) |
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STATEMENT OF FINANCIAL POSITION |
30 DECEMBER 2018 |
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30.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Beverley Veneers Limited is a
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company's registered number and registered office address are as below: |
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Registered number: | 01632099 |
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Registered office: | c/o Midland Funeral Supplies Limited |
Richmond Street South |
West Bromwich |
B70 0DG |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
The preparation of the financial statements in conformity with generally accepted accounting principles requires |
the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and |
disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of |
revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. |
Management considers that certain accounting assumptions relating to taxation and provisions are its critical |
accounting policies. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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 period end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals |
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At 30 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for period |
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Eliminated on disposal |
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At 30 December 2018 |
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NET BOOK VALUE |
At 30 December 2018 |
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At 31 December 2017 |
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BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals | ( |
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At 30 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for period |
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Eliminated on disposal | ( |
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At 30 December 2018 | ( |
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NET BOOK VALUE |
At 30 December 2018 |
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At 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.18 | 31.12.17 |
£ | £ |
Hire purchase contracts (see note 8) |
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Invoice finance |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.12.18 | 31.12.17 |
£ | £ |
Hire purchase contracts (see note 8) |
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BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
30.12.18 | 31.12.17 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
30.12.18 | 31.12.17 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.12.18 | 31.12.17 |
£ | £ |
Hire purchase contracts | 218,306 | 19,647 |
Invoice discounting loan | 592,540 | 487,746 |
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The hire purchase liabilities are secured over the assets to which they relate. |
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The invoice discounting loan is secured by way of a charge over the related trade debtors. |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate parent company is Jukes Group Limited who registered office is Richmond Street South, Swan |
Village, West Bromwich, B70 0DG. |