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Unaudited Financial Statements For The Year Ended 31st March 2018 |
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BSP Engineering Services (UK) Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements For The Year Ended 31st March 2018 |
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for |
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BSP Engineering Services (UK) Ltd |
BSP Engineering Services (UK) Ltd (Registered number: 07826616) |
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Contents of the Financial Statements |
For The Year Ended 31st March 2018 |
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Page |
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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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BSP Engineering Services (UK) Ltd |
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Company Information |
For The Year Ended 31st March 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
51-59 Rose Lane |
Norwich |
Norfolk |
NR1 1BY |
BSP Engineering Services (UK) Ltd (Registered number: 07826616) |
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Balance Sheet |
31st March 2018 |
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31/3/18 | 31/3/17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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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 |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 11 |
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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. |
BSP Engineering Services (UK) Ltd (Registered number: 07826616) |
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Balance Sheet - continued |
31st March 2018 |
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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
by: |
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BSP Engineering Services (UK) Ltd (Registered number: 07826616) |
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Notes to the Financial Statements |
For The Year Ended 31st March 2018 |
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1. | STATUTORY INFORMATION |
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BSP Engineering Services (UK) Ltd is a
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The 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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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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Goodwill |
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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 |
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Plant and machinery | - |
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Computer equipment | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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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. |
BSP Engineering Services (UK) Ltd (Registered number: 07826616) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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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Going concern |
These financial statements have been prepared on the going concern basis. The Director considers this basis to |
be appropriate but he has not assessed a period in excess of 12 months from the date of approving the |
accounts. |
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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 |
Development |
Goodwill | costs | Totals |
£ | £ | £ |
COST |
At 1st April 2017 |
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Additions |
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At 31st March 2018 |
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AMORTISATION |
At 1st April 2017 |
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Amortisation for year |
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At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 |
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At 31st March 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1st April 2017 |
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Additions |
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Disposals | ( |
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At 31st March 2018 |
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DEPRECIATION |
At 1st April 2017 |
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Charge for year |
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At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 |
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At 31st March 2017 |
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BSP Engineering Services (UK) Ltd (Registered number: 07826616) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st March 2018 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
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COST |
At 1st April 2017 |
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Disposals | ( |
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At 31st March 2018 |
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DEPRECIATION |
At 1st April 2017 |
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Eliminated on disposal | ( |
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At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 | ( |
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At 31st March 2017 |
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6. | STOCKS |
31/3/18 | 31/3/17 |
£ | £ |
Stocks |
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Work-in-progress |
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7. | DEBTORS |
31/3/18 | 31/3/17 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Tax |
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Prepayments |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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VAT | 55,030 | 28,730 |
Other creditors |
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Factoring account | 252,977 | 212,221 |
Directors' loan accounts | 12,795 | 71,024 |
Accrued expenses |
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BSP Engineering Services (UK) Ltd (Registered number: 07826616) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st March 2018 |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Bank loans - 2-5 years |
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Hire purchase contracts |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31/3/18 | 31/3/17 |
£ | £ |
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Bibby Financial Services Ltd provides a factoring facility it holds a debenture over the assets of the company. |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1st April 2017 |
and 31st March 2018 |
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12. | RELATED PARTY DISCLOSURES |
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During the period the company traded with CNC Machine Tools Ltd, a company in which the director Mr E I |
Clapham is also a Director. Sales to CNC Machine Tools Ltd totalled £4,765 (2016 - £6,748) while purchases |
from the company totalled £Nil (2016 - £136,216). At the Balance sheet date BSP Engineering Services (UK) |
Ltd was owed £237,128 by CNC Machine Tools Ltd. This amount is included in Other debtors. At 31st March |
2016 BSP Engineering Services (UK) Ltd was owed £91,973 by CNC Machine Tools Ltd and this amount was |
included in Other debtors. |
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All of these transactions were undertaken at prices which were the same as those available on the open market. |
All amounts outstanding are unsecured, interest free and repayable on demand. |