Company Registration No. 06467473 (England and Wales)
SCHOFIELD BRITTEN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019
PAGES FOR FILING WITH REGISTRAR
SCHOFIELD BRITTEN LIMITED
COMPANY INFORMATION
Director
Mr P Schofield
Secretary
Mrs C Schofield
Company number
06467473
Registered office
St.Helens House
King Street
Derby
DE1 3EE
Accountants
Smith Cooper Limited
St.Helens House
King Street
Derby
DE1 3EE
SCHOFIELD BRITTEN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SCHOFIELD BRITTEN LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2019
31 January 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
195,119
205,325
Current assets
Debtors
4
466,226
292,248
Cash at bank and in hand
14,517
4,155
480,743
296,403
Creditors: amounts falling due within one year
5
(310,912)
(186,118)
Net current assets
169,831
110,285
Total assets less current liabilities
364,950
315,610
Creditors: amounts falling due after more than one year
6
(209,229)
(224,631)
Net assets
155,721
90,979
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
155,719
90,977
Total equity
155,721
90,979
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
SCHOFIELD BRITTEN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2019
31 January 2019
- 2 -
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 October 2019
Mr P R Schofield
Director
Company Registration No. 06467473
SCHOFIELD BRITTEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019
- 3 -
1
Accounting policies
Company information
Schofield Britten Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
St.Helens House, King Street, Derby, DE1 3EE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced sales of services, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
4% on cost
Fixtures, fittings & equipment
25% on cost
Computer equipment
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SCHOFIELD BRITTEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
1
Accounting policies
(Continued)
- 4 -
1.5
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2018 and 31 January 2019
245,718
80,105
325,823
Depreciation and impairment
At 1 February 2018
41,144
79,354
120,498
Depreciation charged in the year
9,829
377
10,206
At 31 January 2019
50,973
79,731
130,704
Carrying amount
At 31 January 2019
194,745
374
195,119
At 31 January 2018
204,574
751
205,325
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
466,226
292,248
SCHOFIELD BRITTEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
- 5 -
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
17,137
15,445
Trade creditors
-
(48)
Corporation tax
132,064
17,031
Other taxation and social security
3,591
3,117
Other creditors
158,120
150,573
310,912
186,118
6
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
125,846
137,079
Other creditors
83,383
87,552
209,229
224,631
7
Loans and overdrafts
2019
2018
£
£
Bank loans
142,983
152,524
Payable within one year
17,137
15,445
Payable after one year
125,846
137,079
The long-term loan is secured by a fixed and floating charge over the property.
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
2 ordinary of £1 each
2
2
9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
SCHOFIELD BRITTEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
9
Directors' transactions
(Continued)
- 6 -
Mr P R Schofield -
-
292,169
90,904
(32,308)
350,765
292,169
90,904
(32,308)
350,765