Company Registration No. 01116243 (England and Wales)
BERGSON & EATON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
BERGSON & EATON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
BERGSON & EATON LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
53,331
79,739
Current assets
Stocks
85,845
105,928
Debtors
4
632,224
381,762
Cash at bank and in hand
121,445
159,559
839,514
647,249
Creditors: amounts falling due within one year
5
(321,350)
(306,477)
Net current assets
518,164
340,772
Total assets less current liabilities
571,495
420,511
Creditors: amounts falling due after more than one year
6
(22,461)
(27,618)
Net assets
549,034
392,893
Capital and reserves
Called up share capital
7
1,300
1,300
Capital redemption reserve
700
700
Profit and loss reserves
547,034
390,893
Total equity
549,034
392,893
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BERGSON & EATON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2018
31 December 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2019 and are signed on its behalf by:
Mr C Gunning
Director
Company Registration No. 01116243
BERGSON & EATON LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2018
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2017
1,300
700
497,587
499,587
Year ended 31 December 2017:
Loss and total comprehensive income for the year
-
-
(11,770)
(11,770)
Dividends
-
-
(94,924)
(94,924)
Balance at 31 December 2017
1,300
700
390,893
392,893
Year ended 31 December 2018:
Profit and total comprehensive income for the year
-
-
191,141
191,141
Dividends
-
-
(35,000)
(35,000)
Balance at 31 December 2018
1,300
700
547,034
549,034
BERGSON & EATON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 4 -
1
Accounting policies
Company information
Bergson & Eaton Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Units 4-12 Kempson Close, Gatehouse Industrial Area, Aylesbury, Bucks, HP19 8UQ.
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 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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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:
Showroom improvement
50% on cost
Land and buildings Leasehold
Over the remaining term of the lease
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
33% on cost
Motor vehicles
25% reducing balance
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
Stocks
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
BERGSON & EATON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents
Cash at bank and in hand
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.
1.6
Taxation
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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 18 (2017 - 21).
BERGSON & EATON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2018
383,832
502,757
886,589
Additions
-
1,167
1,167
At 31 December 2018
383,832
503,924
887,756
Depreciation and impairment
At 1 January 2018
377,850
429,000
806,850
Depreciation charged in the year
5,982
21,593
27,575
At 31 December 2018
383,832
450,593
834,425
Carrying amount
At 31 December 2018
-
53,331
53,331
At 31 December 2017
5,982
73,757
79,739
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
157,679
112,491
Other debtors
432,104
252,283
Prepayments and accrued income
42,441
16,988
632,224
381,762
5
Creditors: amounts falling due within one year
2018
2017
Notes
£
£
Other borrowings
5,157
10,265
Trade creditors
110,910
82,126
Corporation tax
55,293
21,972
Other taxation and social security
62,242
68,200
Other creditors
1,213
564
Accruals and deferred income
86,535
123,350
321,350
306,477
BERGSON & EATON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 7 -
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
22,461
27,618
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1,250 Ordinary A shares of £1 each
1,250
1,250
50 Ordinary C shares of £1 each
50
50
1,300
1,300
8
Parent company
The company is controlled by
B & E Acquisitions Ltd, who owns a majority shareholding in the allotted share capital.