REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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BLP (NORTHERN) LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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BLP (NORTHERN) LIMITED |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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BLP (NORTHERN) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Fernwood House |
Fernwood Road |
Jesmond |
Newcastle upon Tyne |
Tyne and Wear |
NE2 1TJ |
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SOLICITORS: |
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Norham House |
12 New Bridge Street West |
Newcastle upon Tyne |
Tyne and Wear |
NE1 8AS |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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ACCRUALS AND DEFERRED INCOME | ( |
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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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SHAREHOLDERS' FUNDS |
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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. |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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BALANCE SHEET - continued |
31 DECEMBER 2019 |
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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 Board of Directors and authorised for issue on
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BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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BLP (Northern) Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in Sterling (£). Amounts are rounded to the nearest whole |
pound. |
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Significant estimates and judgements |
The preparation of the financial statements requires the directors to make judgements and estimates. |
The main areas where such judgements and estimates are made are in respect of depreciation policy |
and the estimated useful lives of the company's assets over which these assets are depreciated. |
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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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Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of |
the goods has transferred to the buyer. This is usually at the point the customer has taken delivery of |
the goods. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being |
amortised evenly over its estimated remaining useful life of ten years. This is calculated on a straight |
line basis based on the net book value carried forward at 1 January 2016 when the policy was revised |
in line with FRS 102. |
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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. |
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Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated |
impairment losses. |
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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. |
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Improvements to property | - 2% on cost |
Plant and machinery | -10% on cost |
Fixtures and fittings | -10% on cost |
Computer equipment | -varying rates of 10 to 33% on cost |
Motor vehicles | -25% on reducing balance |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stock and work in progress are valued at the lower of cost and net realisable value, after making |
allowance for obsolete and slow moving items. |
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Raw materials cost is determined on a first-in first-out (FIFO) basis. Work in progress and finished |
goods consist of direct labour and materials plus attributable overheads based on a normal level of |
activity. |
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Net realisable value is the amount that can be realised from the sale of the stock in the normal course |
of business after allowing for the costs of realisation. |
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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. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet 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 year 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 |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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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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Impairment of assets |
Property, plant and equipment are reviewed for impairment if events or changes in circumstances |
indicate that the carrying amount of such assets may not be recoverable. If there is an indication of |
possible impairment, the recoverable amount of any affected asset is estimated and compared against |
its carrying amount. Where the estimated recoverable amount is lower, an impairment loss is |
recognised immediately in profit and loss. |
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Short-term debtors and creditors |
Debtors and creditors with no interest rate which are receivable or payable within one year are |
recorded at transaction price. Any loss arising from impairment are recognised immediately in profit |
and loss. |
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Cash and cash equivalents |
Cash and cash equivalents comprises cash in hand and current balances with banks and other |
institutions, which are readily convertible to known amounts of cash and which are subject to |
insignificant risk of change in value. |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
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AMORTISATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and | Motor |
property | property | machinery | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2019 |
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Additions |
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Disposals |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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Improvements to property are in respect of short leasehold land and buildings. |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | 419 | - |
Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Hire purchase contracts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Sundry creditors | 48,858 | 69,380 |
Directors' current accounts | 9,147 | 10,856 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 years |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 years | 678,750 | 717,241 |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
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Bank loans |
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Other loans |
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Hire purchase contracts | 828,910 | 980,618 |
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Other loans include a factoring loan secured by a mortgage debenture incorporating a fixed and |
floating charge over the company's assets. Hire purchase creditors are secured on the assets |
concerned. |
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10. | OTHER FINANCIAL COMMITMENTS |
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The total amount of financial commitments, guarantees and contingencies not included in the balance |
sheet as at 31 December 2019 is £306,279 (2018: £388,682). |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2019 |
and 31 December 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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