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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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BLP (NORTHERN) LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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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 2017 |
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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 2017 |
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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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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Statutory Auditor |
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 2017 |
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2017 | 2016 |
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 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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BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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BALANCE SHEET - continued |
31 DECEMBER 2017 |
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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 on
behalf by: |
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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 2017 |
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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 2017 |
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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 |
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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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. |
BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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 2017 |
and 31 December 2017 |
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AMORTISATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals |
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( |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Improvements to property are in respect of short leasehold land and buildings. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
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 | 73,107 | 68,081 |
Directors' current accounts | 10,967 | 10,949 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Other loans |
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Hire purchase contracts | 736,533 | 821,080 |
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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. | 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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BLP (NORTHERN) LIMITED (REGISTERED NUMBER: 02605236) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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11. | 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 2017 is £1,634,484 (2016: £2,629,733). |