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Company Registration No. 00204210 (England and Wales)
BISPHAM HALL BRICK & TERRA COTTA COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2017
31 December 2017
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
BISPHAM HALL BRICK & TERRA COTTA COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BISPHAM HALL BRICK & TERRA COTTA COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,922
2,486
Investment properties
4
354,000
354,000
355,922
356,486
Current assets
Debtors
5
4,040
3,717
Cash at bank and in hand
26,276
44,119
30,316
47,836
Creditors: amounts falling due within one year
6
(1,805)
(1,932)
Net current assets
28,511
45,904
Total assets less current liabilities
384,433
402,390
Capital and reserves
Called up share capital
7
25,000
25,000
Revaluation reserve
8
320,503
320,503
Profit and loss reserves
38,930
56,887
Total equity
384,433
402,390

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 2017 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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 26 September 2018 and are signed on its behalf by:
B C Marsden
Director
Company Registration No. 00204210
BISPHAM HALL BRICK & TERRA COTTA COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 2 -
1
Accounting policies
Company information

Bispham Hall Brick & Terra Cotta Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Smethurst Road, Orrell, Wigan, Lancashire, WN5 7DP.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties 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.

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.

Rental income is recognised evenly over the period to which it relates.

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:

Plant and equipment
- 25.0% reducing balance
Motor vehicles
- 25.0% reducing balance

Freehold land is not depreciated.

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
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

BISPHAM HALL BRICK & TERRA COTTA COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash at bank and in hand

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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4 (2016 - 4).

BISPHAM HALL BRICK & TERRA COTTA COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 4 -
3
Tangible fixed assets
Freehold land
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2017 and 31 December 2017
226
66,924
67,150
Depreciation and impairment
At 1 January 2017
-
64,664
64,664
Depreciation charged in the year
-
564
564
At 31 December 2017
-
65,228
65,228
Carrying amount
At 31 December 2017
226
1,696
1,922
At 31 December 2016
226
2,260
2,486
4
Investment property
2017
£
Fair value
At 1 January 2017 and 31 December 2017
354,000

The property was valued by the directors, having taken appropriate professional advice, on a market value basis.

5
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
4,040
3,717

Included within other debtors due within one year is a loan to a director, amounting to £2,216 (2016 - £2,575). Amounts repaid during the year totalled £2,575 and the maximum balance outstanding during the year was £4,176. There is no formal agreement concerning the loan. The balance was repaid within 9 months of the balance sheet date.

 

BISPHAM HALL BRICK & TERRA COTTA COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 5 -
6
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
912
1,034
Other taxation and social security
253
259
Other creditors
640
639
1,805
1,932
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
25,000 Ordinary shares of £1 each
25,000
25,000
25,000
25,000
8
Revaluation reserve
2017
2016
£
£
At beginning and end of year
320,503
320,503
2017-12-312017-01-01falseCCH SoftwareCCH Accounts Production 2018.200No description of principal activity26 September 2018J M SharplesB C MarsdenMrs K A SharplesJ M Sharples002042102017-01-012017-12-31002042102017-12-31002042102016-12-3100204210core:LandBuildings2017-12-3100204210core:OtherPropertyPlantEquipment2017-12-3100204210core:LandBuildings2016-12-3100204210core:OtherPropertyPlantEquipment2016-12-3100204210core:CurrentFinancialInstruments2017-12-3100204210core:CurrentFinancialInstruments2016-12-3100204210core:ShareCapital2017-12-3100204210core:ShareCapital2016-12-3100204210core:RevaluationReserve2017-12-3100204210core:RevaluationReserve2016-12-3100204210core:RetainedEarningsAccumulatedLosses2017-12-3100204210core:RetainedEarningsAccumulatedLosses2016-12-3100204210core:ShareCapitalOrdinaryShares2017-12-3100204210core:ShareCapitalOrdinaryShares2016-12-3100204210bus:Director12017-01-012017-12-3100204210core:PlantMachinery2017-01-012017-12-3100204210core:MotorVehicles2017-01-012017-12-31002042102016-01-012016-12-3100204210core:LandBuildings2016-12-3100204210core:OtherPropertyPlantEquipment2016-12-31002042102016-12-3100204210core:OtherPropertyPlantEquipment2017-01-012017-12-3100204210bus:OrdinaryShareClass12017-01-012017-12-3100204210bus:OrdinaryShareClass12017-12-3100204210bus:PrivateLimitedCompanyLtd2017-01-012017-12-3100204210bus:FRS1022017-01-012017-12-3100204210bus:AuditExemptWithAccountantsReport2017-01-012017-12-3100204210bus:SmallCompaniesRegimeForAccounts2017-01-012017-12-3100204210bus:Director22017-01-012017-12-3100204210bus:Director32017-01-012017-12-3100204210bus:CompanySecretary12017-01-012017-12-3100204210bus:FullAccounts2017-01-012017-12-31xbrli:purexbrli:sharesiso4217:GBP