Company Registration No. 13061174 (England and Wales)
Bud Fabrications Limited
Unaudited accounts
for the period from 4 December 2020 to 31 December 2021
Bud Fabrications Limited
Unaudited accounts
Contents
Bud Fabrications Limited
Company Information
for the period from 4 December 2020 to 31 December 2021
Directors
Ashley Hodgkins
Benjamin Seymour
Company Number
13061174 (England and Wales)
Registered Office
Unit E2 Smarden Business Estate
Smarden Road
Ashford
Kent
TN27 8QL
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Bud Fabrications Limited
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
15,087
Creditors: amounts falling due within one year
(4,039)
Total assets less current liabilities
23,514
Provisions for liabilities
Profit and loss account
19,327
Shareholders' funds
19,329
For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by
Ashley Hodgkins
Director
Company Registration No. 13061174
Bud Fabrications Limited
Notes to the Accounts
for the period from 4 December 2020 to 31 December 2021
Bud Fabrications Limited is a private company, limited by shares, registered in England and Wales, registration number 13061174. The registered office is Unit E2 Smarden Business Estate, Smarden Road, Ashford, Kent, TN27 8QL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Bud Fabrications Limited
Notes to the Accounts
for the period from 4 December 2020 to 31 December 2021
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
Additions
7,766
8,500
16,266
At 31 December 2021
7,766
8,500
16,266
Charge for the period
1,941
2,125
4,066
At 31 December 2021
1,941
2,125
4,066
At 31 December 2021
5,825
6,375
12,200
5
Debtors: amounts falling due within one year
2021
6
Creditors: amounts falling due within one year
2021
Taxes and social security
2,792
7
Average number of employees
During the period the average number of employees was 2.
