Burrows Lea Forge Ltd - Accounts to registrar (filleted) - small 22.3
Burrows Lea Forge Ltd - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 NOVEMBER 2020 TO 31 MARCH 2022 |
| FOR |
| BURROWS LEA FORGE LTD |
| BURROWS LEA FORGE LTD (REGISTERED NUMBER: 07403619) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Period 1 November 2020 to 31 March 2022 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BURROWS LEA FORGE LTD |
| COMPANY INFORMATION |
| For The Period 1 November 2020 to 31 March 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| BURROWS LEA FORGE LTD (REGISTERED NUMBER: 07403619) |
| ABRIDGED BALANCE SHEET |
| 31 March 2022 |
| 2022 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| BURROWS LEA FORGE LTD (REGISTERED NUMBER: 07403619) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Period 1 November 2020 to 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| Burrows Lea Forge Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| The financial statements have been prepared on a going concern basis, which the director considers to be appropriate, as he has agreed not to withdraw his loan account and to provide the necessary finance to enable the company to meet its liabilities as they fall due. |
| Turnover |
| Turnover represents sales of blacksmith and sculptural ironwork goods, excluding value added tax, sold to customers during the year. |
| Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life or, if held under a finance lease, over the lease term, whichever is the shorter. |
| Plant and machinery - 25% on reducing balance |
| Motor vehicles - 25% on reducing balance |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price, less costs to complete and sell. Cost includes all costs of purchase, including costs to bring stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| Financial instruments |
| The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
| Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
| Current tax assets and liabilities are not discounted and are 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. |
| Hire purchase and leasing commitments |
| Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. Payments are apportioned between the finance charge and the capital amount and the related obligations, net of future finance charges, are included in creditors. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| BURROWS LEA FORGE LTD (REGISTERED NUMBER: 07403619) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Period 1 November 2020 to 31 March 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 November 2020 |
| Additions |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for period |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 October 2020 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Totals |
| £ |
| COST |
| At 1 November 2020 |
| and 31 March 2022 | 31,250 |
| DEPRECIATION |
| At 1 November 2020 | 8,326 |
| Charge for period | 7,509 |
| At 31 March 2022 | 15,835 |
| NET BOOK VALUE |
| At 31 March 2022 | 15,415 |
| At 31 October 2020 | 22,924 |
| 5. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2022 | 2020 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |