COMPANY REGISTRATION NUMBER:
9653900
Bradley Construction Limited
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Filleted Unaudited Abridged Financial Statements
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|
Bradley Construction Limited
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Abridged Statement of Financial Position
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30 June 2018
Fixed assets
Tangible assets
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5
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36,314
|
10,815
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|
|
|
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|
Current assets
Stocks
|
1,098,066
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|
253,489
|
Debtors
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36,216
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3,930
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Cash at bank and in hand
|
10,676
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760,629
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------------
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------------
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1,144,958
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1,018,048
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|
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Creditors: amounts falling due within one year
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790,770
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660,371
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------------
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------------
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Net current assets
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354,188
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357,677
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---------
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---------
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Total assets less current liabilities
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390,502
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368,492
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|
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Provisions
Taxation including deferred tax
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6,900
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–
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---------
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---------
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Net assets
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383,602
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368,492
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|
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---------
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---------
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Capital and reserves
Called up share capital
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100
|
100
|
Profit and loss account
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383,502
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368,392
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|
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---------
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---------
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Shareholders funds
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383,602
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368,492
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---------
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---------
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These abridged 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 abridged statement of comprehensive income has not been delivered.
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Bradley Construction Limited
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Abridged Statement of Financial Position (continued)
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30 June 2018
These abridged financial statements were approved by the
board of directors
and authorised for issue on
20 March 2019
, and are signed on behalf of the board by:
Company registration number:
9653900
Bradley Construction Limited
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Notes to the Abridged Financial Statements
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Year ended 30 June 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hadleigh Business Centre, 351 London Road, Hadleigh, Benfleet, Essex, SS7 2BT.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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.
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:
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-
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25% reducing balance
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-
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25% reducing balance
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
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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£
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Cost
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At 1 July 2017
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15,709
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Additions
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30,750
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--------
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At 30 June 2018
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46,459
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--------
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Depreciation
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At 1 July 2017
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4,894
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Charge for the year
|
5,251
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--------
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At 30 June 2018
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10,145
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--------
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Carrying amount
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At 30 June 2018
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36,314
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--------
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At 30 June 2017
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10,815
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--------
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6.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
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2018
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Balance brought forward
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Advances/ (credits) to the director
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Amounts repaid
|
Balance outstanding
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£
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£
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£
|
£
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|
B Guiver
|
(
554,499)
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–
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44,869
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(
509,630)
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---------
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----
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--------
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---------
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2017
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Balance brought forward
|
Advances/ (credits) to the director
|
Amounts repaid
|
Balance outstanding
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|
£
|
£
|
£
|
£
|
|
B Guiver
|
(
545,843)
|
(
8,656)
|
–
|
(
554,499)
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---------
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-------
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----
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---------
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7.
Related party transactions
The company was under the control of Mr
B Guiver
throughout the current period. Mr B. Guiver is the sole director and shareholder. Mr Guiver is also a director and shareholder of a related party. During the year the company provided services totalling £1,260 to this related party.