BSA Tools Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03294806 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

BSA Tools Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

D J Critchlow

P Eyles

REGISTERED OFFICE:

Mackadown Lane

Kitts Green

Birmingham

B33 0LE

REGISTERED NUMBER:

03294806 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Intangible assets

4

765

-

Tangible assets

5

4,564

-

5,329

-

CURRENT ASSETS

Stocks

20,571

-

Debtors

6

83,904

2

Cash at bank and in hand

38,511

-

142,986

2

CREDITORS

Amounts falling due within one year

7

(104,373

)

-

NET CURRENT ASSETS

38,613

2

TOTAL ASSETS LESS CURRENT LIABILITIES

43,942

2

CAPITAL AND RESERVES

Called up share capital

8

1,000

2

Retained earnings

9

42,942

-

SHAREHOLDERS' FUNDS

43,942

2

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

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

The directors acknowledge their 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 31 July 2019 and were signed on its behalf by:

P Eyles - Director

1.	STATUTORY INFORMATION

BSA Tools 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of ten years.

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

-

33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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 5 (2017 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

800

At 31 December 2018

800

AMORTISATION

Charge for year

35

At 31 December 2018

35

NET BOOK VALUE

At 31 December 2018

765

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

5,884

At 31 December 2018

5,884

DEPRECIATION

Charge for year

1,320

At 31 December 2018

1,320

NET BOOK VALUE

At 31 December 2018

4,564

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

82,777

-

Other debtors

1,127

2

83,904

2

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

10,793

-

Taxation and social security

28,552

-

Other creditors

65,028

-

104,373

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

NIL

Ordinary

£1

-

2

760

A Ordinary

£1

760

-

50

B Ordinary

£1

50

-

10

C Ordinary

£1

10

-

5

D Ordinary

£1

5

-

5

E Ordinary

£1

5

-

30

F Ordinary

£1

30

-

5

G Ordinary

£1

5

-

50

H Ordinary

£1

50

-

10

I Ordinary

£1

10

-

50

J Ordinary

£1

50

-

10

K Ordinary

£1

10

-

5

L Ordinary

£1

5

-

5

M Ordinary

£1

5

-

5

N Ordinary

£1

5

-

1,000

2

Shares were issued during the year as follows:

Cash at par

758 Ordinary shares of £1 for £ 758

50 B Ordinary shares of £1 for £ 50

10 C Ordinary shares of £1 for £ 10

5 D Ordinary shares of £1 for £ 5

5 E Ordinary shares of £1 for £5

30 F Ordinary shares of £1 for £30

5 G Ordinary shares of £1 for £5

50 H Ordinary shares of £1 for £50

10 I Ordinary shares of £1 for £10

50 J Ordinary shares of £1 for £50

10 K Ordinary shares of £1 for £10

5 L Ordinary shares of £1 for £5

5 M Ordinary shares of £1 for £5

5 N Ordinary shares of £1 for £5

As a bonus out of reserves

758 Ordinary shares of £1

9.

RESERVES

Retained

earnings

£

Profit for the year

71,942

Dividends

(29,000

)

At 31 December 2018

42,942

10.	RELATED PARTY DISCLOSURES

PGS Global Logistics Limited

A company in which P Eyles is a director and shareholder

The amount owed to PGS Global Logistics Limited at 31 December 2018 £40,404.

The amount due to PGS Global Logistics Limited at 31 December 2018 is unsecured and has no specific terms

regarding payment of interest. The amount due is repayable on demand but the directors of PGS Global Logistics

Limited have given their assurances that this amount will not be demanded until such time as BSA Tools Limited

can afford to do so without detriment to its operating and working capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of BSA Tools Limited for the year ended 31 December 2018 which comprise the Profit and loss

account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of BSA Tools Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BSA Tools Limited and state those matters that we have agreed to state to the Board of Directors of BSA Tools Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BSA Tools Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that BSA Tools Limited 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 BSA Tools Limited. You consider that BSA Tools Limited 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 BSA Tools Limited. 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.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

31 July 2019