Company Registration No. 6508596 (England and Wales)
BB PLASTICS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
BB PLASTICS LIMITED
COMPANY INFORMATION
Director
G D Smith
Company number
6508596
Registered office
Unit 5 Bowmans Trading Estate
Bessemer Drive
Stevenage
Herts
SG1 2DL
BB PLASTICS LIMITED
CONTENTS
Page
Director's report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 5
The following pages do not form part of the statutory accounts:
Detailed trading and profit and loss account
6 - 7
BB PLASTICS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 1 -
The director presents his annual report and financial statements for the year ended 28 February 2018.
Principal activities
The principal activity of the company is that of Motorcycle fairing and plastic manufacturing
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
G D Smith
Results and dividends
No ordinary dividends were paid.
Director's interests
The director's interest in the shares of the company was as stated below:
Ordinary shares of £1 each
28 February 2018
28 February 2017
G D Smith
9,700
9,700
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
G D Smith
Director
10 October 2018
BB PLASTICS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 2 -
2018
2017
Notes
£
£
Turnover
84,020
82,784
Cost of sales
(52,092)
(51,306)
Gross profit
31,928
31,478
Administrative expenses
(31,730)
(31,324)
Operating profit
198
154
Interest receivable and similar income
10
8
Profit before taxation
208
162
Taxation
(40)
(32)
Profit for the financial year
168
130
BB PLASTICS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2018
28 February 2018
- 3 -
2018
2017
Notes
£
£
£
£
Current assets
Stocks
510
630
Debtors
2
116
121
Cash at bank and in hand
15,304
12,581
15,930
13,332
Creditors: amounts falling due within one year
3
(23,251)
(20,821)
Net current liabilities
(7,321)
(7,489)
Capital and reserves
Called up share capital
4
9,700
9,700
Profit and loss reserves
(17,021)
(17,189)
Total equity
(7,321)
(7,489)
For the financial year ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared 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 10 October 2018
G D Smith
Director
Company Registration No. 6508596
BB PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 4 -
1
Accounting policies
Company information
BB Plastics Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 5 Bowmans Trading Estate, Bessemer Drive, Stevenage, Herts, SG1 2DL.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Stocks
Stocks
are stated at the lower of cost and
estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
116
121
3
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
20,111
18,039
Corporation tax
40
32
Other creditors
3,100
2,750
23,251
20,821
BB PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 5 -
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Authorised
10,000 Ordinary shares of £1 each
10,000
10,000
Issued and fully paid
9,700 Ordinary shares of £1 each
9,700
9,700
BB PLASTICS LIMITED
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 6 -
2018
2017
£
£
£
£
Turnover
Sales
84,020
82,784
Cost of sales
Opening stock
630
620
Materials
20,281
21,856
Closing stock
(510)
(630)
Subcontracted services
20,218
20,119
Package and carriage charges
11,473
9,341
(52,092)
(51,306)
Gross profit
31,928
31,478
Administrative expenses
(31,730)
(31,324)
Operating profit
198
154
Investment revenues
Interest receivable
10
8
10
8
Profit before taxation
208
162
BB PLASTICS LIMITED
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 7 -
2018
2017
£
£
Administrative expenses
Directors' remuneration
5,200
5,200
Office rent
7,750
7,250
Repairs and renewals
815
1,001
Motor and travel expenses
4,922
6,394
Accountancy
600
600
Bank charges
719
810
Credit card charges and ebay fees
7,278
6,105
Card machine
724
710
Insurance
780
781
Printing,postage and stationery
53
272
Advertising
1,448
1,750
Telephone
847
438
Sundry expenses
594
13
31,730
31,324