B & B Machining Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02658460 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

FOR

B & B MACHINING SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Harris

R J Harris

Mrs A E Harris

SECRETARY:

Mrs A E Harris

REGISTERED OFFICE:

Unit 9 Little Forge Road

Park Farm

Redditch

Worcestershire

B98 7SF

REGISTERED NUMBER:

02658460 (England and Wales)

ACCOUNTANTS:

Prince Accountancy

Chartered Certified Accountants

Charter House

Sandford Street

Lichfield

Staffordshire

WS13 6QA

FIXED ASSETS

Tangible assets

4

171,172

175,368

CURRENT ASSETS

Stocks

120

120

Debtors

41,980

43,030

Cash at bank

43,907

55,071

86,007

98,221

CREDITORS

Amounts falling due within one year

53,188

130,579

NET CURRENT ASSETS/(LIABILITIES)

32,819

(32,358

)

TOTAL ASSETS LESS CURRENT LIABILITIES

203,991

143,010

CREDITORS

Amounts falling due after more than one year

(65,352

)

-

PROVISIONS FOR LIABILITIES

(3,414

)

(4,170

)

NET ASSETS

135,225

138,840

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

5

24,784

24,784

Retained earnings

110,341

113,956

SHAREHOLDERS' FUNDS

135,225

138,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2021 and were signed on its behalf by:

S J Harris - Director

R J Harris - Director

1.	STATUTORY INFORMATION

B & B Machining 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 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

20% on reducing balance

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 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.

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 3 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 December 2019

334,708

Additions

436

Disposals

(2,300

)

At 30 November 2020

332,844

DEPRECIATION

At 1 December 2019

159,340

Charge for year

2,792

Eliminated on disposal

(460

)

At 30 November 2020

161,672

NET BOOK VALUE

At 30 November 2020

171,172

At 30 November 2019

175,368

Freehold Property was revalued on an open market basis by John Truslove in November 2018.

5.

RESERVES

Revaluation

reserve

£

At 1 December 2019

and 30 November 2020

24,784

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2020 and 30 November 2019:

30/11/20

30/11/19

£

£

R J Harris

Balance outstanding at start of year

-

-

Amounts advanced

20,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

20,000

-

The loan of £20,000 was repaid on 8 February 2021.