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No description of principal activities is disclosed
2017-09-01
Sage Accounts Production 18.30 Update 1 - FRS
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2018-08-31
Company registration number:
09156542
G & C Bathrooms and Interiors Ltd
Trading as
G & C Bathrooms and Interiors Ltd
Unaudited filleted financial statements
31 August 2018
G & C Bathrooms and Interiors Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
G & C Bathrooms and Interiors Ltd
Directors and other information
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Directors
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Mr Christopher Alan McBrearty
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Company number
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09156542
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Registered office
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23 High Street
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Spilsby
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PE235JH
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Business address
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23 High Street
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Spilsby
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Lincs
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PE23 5JH
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Accountants
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Lister & Co
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75 High Street
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Boston
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Lincs
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PE21 8SX
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G & C Bathrooms and Interiors Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of G & C Bathrooms and Interiors Ltd
Year ended 31 August 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G & C Bathrooms and Interiors Ltd for the year ended 31 August 2018 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of G & C Bathrooms and Interiors Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of G & C Bathrooms and Interiors Ltd and state those matters that we have agreed to state to the board of directors of G & C Bathrooms and Interiors Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G & C Bathrooms and Interiors Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that G & C Bathrooms and Interiors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G & C Bathrooms and Interiors Ltd. You consider that G & C Bathrooms and Interiors Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of G & C Bathrooms and Interiors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister & Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
23 November 2018
G & C Bathrooms and Interiors Ltd
Statement of financial position
31 August 2018
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2018
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2017
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Note
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£
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£
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£
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£
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Fixed assets
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Tangible assets
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5
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537
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-
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_______
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_______
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537
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-
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Current assets
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Debtors
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6
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4,865
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2,097
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Cash at bank and in hand
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944
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1,829
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_______
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_______
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5,809
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3,926
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Creditors: amounts falling due
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within one year
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7
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(
5,319)
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(
2,044)
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_______
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_______
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Net current assets
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490
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1,882
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_______
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_______
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Total assets less current liabilities
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1,027
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1,882
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Provisions for liabilities
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(
102)
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-
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_______
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_______
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Net assets
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925
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1,882
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_______
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_______
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Capital and reserves
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Called up share capital
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8
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100
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100
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Profit and loss account
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825
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1,782
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_______
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_______
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Shareholders funds
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925
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1,882
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_______
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_______
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For the year ending 31 August 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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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 financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 November 2018
, and are signed on behalf of the board by:
Mr Christopher Alan McBrearty
Director
Company registration number:
09156542
G & C Bathrooms and Interiors Ltd
Notes to the financial statements
Year ended 31 August 2018
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 23 High Street, Spilsby, PE235JH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value ,of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.The total turnover of the company for the year has been derived from its principle activity wholly undertaken in the UK
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2017:
2
).
5.
Tangible assets
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Fixtures, fittings and equipment
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Total
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£
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£
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Cost
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At 1 September 2017
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-
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-
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Additions
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559
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559
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_______
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_______
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At 31 August 2018
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559
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559
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_______
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_______
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Depreciation
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At 1 September 2017
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-
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-
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Charge for the year
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22
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22
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_______
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_______
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At 31 August 2018
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22
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22
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_______
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_______
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Carrying amount
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At 31 August 2018
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537
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537
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_______
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_______
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At 31 August 2017
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-
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-
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_______
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_______
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6.
Debtors
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2018
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2017
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|
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£
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£
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Trade debtors
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343
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524
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Other debtors
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4,522
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1,573
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_______
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_______
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4,865
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2,097
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_______
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_______
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7.
Creditors: amounts falling due within one year
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2018
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2017
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£
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£
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Trade creditors
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3,658
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1,146
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Accruals and deferred income
|
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885
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540
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Corporation tax
|
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612
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252
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Social security and other taxes
|
|
164
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106
|
|
|
|
_______
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_______
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5,319
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2,044
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_______
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_______
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8.
Called up share capital
Issued, called up and fully paid
|
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2018
|
|
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2017
|
|
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No
|
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£
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No
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£
|
|
Ordinary shares
shares of £
1.00 each
|
|
100
|
|
100
|
|
100
|
|
100
|
|
|
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_______
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_______
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_______
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_______
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