REGISTERED NUMBER: 01676820 (England and Wales)

B & W ENGINEERING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T J Wilkins

REGISTERED OFFICE:

2 Lakeview Stables

Lower St. Clere

Kemsing

Sevenoaks

Kent

TN15 6NL

REGISTERED NUMBER:

01676820 (England and Wales)

ACCOUNTANTS:

Lakeview Southern Limited

2 Lakeview Stables

Lower St Clere

Kemsing

Sevenoaks

Kent

TN15 6NL

FIXED ASSETS

Tangible assets

4

78,185

89,044

CURRENT ASSETS

Stocks

471,734

360,112

Debtors

5

326,568

236,803

Cash at bank

1,282,675

1,376,902

2,080,977

1,973,817

CREDITORS

Amounts falling due within one year

6

766,548

769,143

NET CURRENT ASSETS

1,314,429

1,204,674

TOTAL ASSETS LESS CURRENT LIABILITIES

1,392,614

1,293,718

PROVISIONS FOR LIABILITIES

13,150

17,412

NET ASSETS

1,379,464

1,276,306

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,379,462

1,276,304

SHAREHOLDERS' FUNDS

1,379,464

1,276,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 3 September 2018 and were signed by:

T J Wilkins - Director

1.	STATUTORY INFORMATION

B & W Engineering Services Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of steel fabrication and welding, excluding value added tax. Profits on

long term work in progress have been accounted for equally over the life of the contract.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

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.

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.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2017 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

304,358

Additions

7,351

At 31 March 2018

311,709

DEPRECIATION

At 1 April 2017

215,314

Charge for year

18,210

At 31 March 2018

233,524

NET BOOK VALUE

At 31 March 2018

78,185

At 31 March 2017

89,044

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

as restated

£

£

Other debtors

326,568

236,803

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

as restated

£

£

Trade creditors

611,924

581,480

Taxation and social security

85,247

156,971

Other creditors

69,377

30,692

766,548

769,143

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY