Bardyke Chemicals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC045492 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Bardyke Chemicals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D C W Norman

Mrs H F Norman

SECRETARY:

D Wightman

REGISTERED OFFICE:

Hamilton Road

Cambuslang

Glasgow

G72 7XJ

REGISTERED NUMBER:

SC045492 (Scotland)

ACCOUNTANTS:

Graham & Co. (Accountants) Limited

76 Dumbarton Road

Clydebank

Glasgow

G81 1UG

FIXED ASSETS

Tangible assets

4

2,588,096

2,282,239

Investments

5

100

100

2,588,196

2,282,339

CURRENT ASSETS

Stocks

6

1,669,001

1,692,879

Debtors

7

1,748,736

1,568,223

Cash at bank

4,864,528

4,156,178

8,282,265

7,417,280

CREDITORS

Amounts falling due within one year

8

655,855

853,560

NET CURRENT ASSETS

7,626,410

6,563,720

TOTAL ASSETS LESS CURRENT LIABILITIES

10,214,606

8,846,059

PROVISIONS FOR LIABILITIES

320,873

257,484

NET ASSETS

9,893,733

8,588,575

CAPITAL AND RESERVES

Called up share capital

88,800

88,800

Capital redemption reserve

31,200

31,200

Retained earnings

9,773,733

8,468,575

SHAREHOLDERS' FUNDS

9,893,733

8,588,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 18 February 2021 and were signed on its behalf by:

D C W Norman - Director

1.	STATUTORY INFORMATION

Bardyke Chemicals Limited is a private company, limited by shares , registered in Scotland. 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.

Preparation of consolidated financial statements

The financial statements contain information about Bardyke Chemicals Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Land and buildings

-

1% on cost - land not depreciated

Plant and machinery etc

-

20% on cost, 10% on cost and at varying rates on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2019 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2020

923,860

3,509,659

4,433,519

Additions

-

539,969

539,969

At 31 December 2020

923,860

4,049,628

4,973,488

DEPRECIATION

At 1 January 2020

188,717

1,962,563

2,151,280

Charge for year

6,676

227,436

234,112

At 31 December 2020

195,393

2,189,999

2,385,392

NET BOOK VALUE

At 31 December 2020

728,467

1,859,629

2,588,096

At 31 December 2019

735,143

1,547,096

2,282,239

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

100

NET BOOK VALUE

At 31 December 2020

100

At 31 December 2019

100

6.

STOCKS

31.12.20

31.12.19

£

£

Stocks

1,669,001

1,692,879

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete or slow moving items.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

1,627,571

1,354,262

Other debtors

121,165

213,961

1,748,736

1,568,223

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

305,962

585,086

Taxation and social security

304,684

236,545

Other creditors

45,209

31,929

655,855

853,560

9.	CAPITAL COMMITMENTS

31.12.20

31.12.19

£

£

Contracted but not provided for in the

financial statements

-

223,531