Year Ended
Registration number:
Bartlett Contractors Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Bartlett Contractors Limited
Company Information
Directors |
Mr R J Bartlett Ms T M Bartlett |
Company secretary |
Ms T M Bartlett |
Registered office |
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Accountants |
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Page 1 |
Bartlett Contractors Limited
Balance Sheet
30 September 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 2 |
Bartlett Contractors Limited
Balance Sheet
30 September 2018
For the financial year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 03815196
Page 3 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Steart's Yard
Hinton St Mary
Sturminster Newton
Dorset
DT10 1ND
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Revenue recognition
Turnover represents the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for goods and services provided.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Page 4 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold land and buildings |
4% straight line basis |
Plant & machinery |
10% - 33% straight line basis |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Straight line basis over 2 - 20 years |
Page 5 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost represents the purchase price of goods. Net realisable value represents the selling price of completed goods less any costs necessary to complete the goods. Provision has been made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 6 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
2018 |
2017 |
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Current taxation |
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UK corporation tax |
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UK corporation tax adjustment to prior periods |
( |
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56,095 |
53,397 |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
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Tax expense in the income statement |
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Page 7 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 October 2017 |
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At 30 September 2018 |
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Amortisation |
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At 1 October 2017 |
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Amortisation charge |
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At 30 September 2018 |
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Carrying amount |
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At 30 September 2018 |
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At 30 September 2017 |
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Tangible assets |
Land and buildings |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 October 2017 |
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Additions |
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Disposals |
- |
( |
( |
At 30 September 2018 |
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Depreciation |
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At 1 October 2017 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
( |
At 30 September 2018 |
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Carrying amount |
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At 30 September 2018 |
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At 30 September 2017 |
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Included within the net book value of land and buildings above is £202,135 (2017 - £2,343) in respect of freehold land and buildings.
Page 8 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
Investments |
2018 |
2017 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 October 2017 |
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Provision |
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Carrying amount |
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At 30 September 2018 |
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At 30 September 2017 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2018 |
2017 |
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Subsidiary undertakings |
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Stearts Yard, Hinton St Mary, Sturminster Newton, Dorset, DT10 1NA |
Ordinary £1 shares |
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England and Wales |
The principal activity of Marnhull Stone Limited is |
Page 9 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
Debtors |
Note |
2018 |
2017 |
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Trade debtors |
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Amounts due from group undertakings |
- |
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Other debtors |
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Prepayments |
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Page 10 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts due to group undertakings |
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- |
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Corporation tax |
67,327 |
53,397 |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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Creditors: amounts falling due after more than one year
Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2018 |
2017 |
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Loans and borrowings due after one year |
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Bank borrowings |
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Finance lease liabilities |
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2018 |
2017 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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Finance lease liabilities |
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Page 11 |
Bartlett Contractors Limited
Notes to the Financial Statements
Year Ended 30 September 2018
The bank loan is secured by a floating charge that covers all of the property owned by the company.
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Advances to directors |
2018 |
At 1 October 2017 |
Advances to director |
Repayments by director |
At 30 September 2018 |
Mr R J Bartlett |
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Interest free loan, repayable on demand |
(47,055) |
( |
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( |
Ms T M Bartlett |
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Interest free loan, repayable on demand |
(46,249) |
( |
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( |
2017 |
At 1 October 2016 |
Advances to director |
Repayments by director |
At 30 September 2017 |
Mr R J Bartlett |
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Interest free loan, repayable on demand |
(42,960) |
( |
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( |
Ms T M Bartlett |
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Interest free loan, repayable on demand |
(56,594) |
( |
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( |
Summary of transactions with subsidiaries
Page 12 |