ACCOUNTS - Final Accounts

BATHGATE SLATE TECHNOLOGIES LIMITED - Company Information

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Registered number: 05117063

BATHGATE SLATE TECHNOLOGIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

BATHGATE SLATE TECHNOLOGIES LIMITED

REGISTERED NUMBER: 05117063

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2020

		2020		2019
Note		£		£


Current assets
Debtors: amounts falling due after more than one year	4	183,393		192,502
Debtors: amounts falling due within one year	4	34,791		44,145
Cash at bank and in hand	5	5,598		9,211
		223,782		245,858
Creditors: amounts falling due within one year	6	(170,352)		(187,450)
Net current assets			53,430		58,408
Total assets less current liabilities			53,430		58,408

Net assets			53,430		58,408

Capital and reserves
Called up share capital	100	100
Profit and loss account	53,330	58,308
	53,430	58,408

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S. I. Bennett

Director

Date: 13 April 2021

The notes on pages 2 to 5 form part of these financial statements.

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BATHGATE SLATE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

1.	General information

The entity is a private limited liability company, limited by shares registered in England and Wales within
the United Kingdom. The registered office is c/o Langtons Professional Services Limited, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ and company number is 05117063.
The accounts presented show the results of the individual entity and not of its group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company is supported by its parent company, Archibald Bathgate Group Limited. Accordingly, the directors consider the business to be a going concern, and these accounts are prepared on the going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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BATHGATE SLATE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

2.Accounting policies (continued)

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees during the year was as follows:

	2020	2019
	No.	No.

Technical	1	1

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BATHGATE SLATE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

4.	Debtors
		2020	2019
		£	£

Due after more than one year
Other debtors	183,393	192,502
	183,393	192,502

					2020	2019
					£	£

Due within one year
Trade debtors	13,464	13,464
Other debtors	21,327	30,681
	34,791	44,145

5.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	5,598	9,211
	5,598	9,211

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Amounts owed to group undertakings	169,002	183,156
Corporation tax	-	2,944
Accruals and deferred income	1,350	1,350
	170,352	187,450

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BATHGATE SLATE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

7.	Financial instruments
		2020	2019
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	5,598	9,211

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

8.	Controlling party

The ultimate parent company is Archibald Bathgate Group Limited, copies of whose accounts can be obtained from Companies House, Cardiff.
The controlling party of the company is R.H. Walker.

9.	Auditor's information

The auditor's report on the financial statements for the year ended 30 September 2020 was unqualified.

The audit report was signed on 13 April 2021 by Andrew McCall (Senior Statutory Auditor) on behalf of Langtons Professional Services Limited.

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