BP Motor Bodybuilders and Engineers Limited Filleted accounts for Companies House (small and micro)

BP Motor Bodybuilders and Engineers Limited Filleted accounts for Companies House (small and micro)

BP MOTOR BODYBUILDERS AND ENGINEERS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07283663
BP Motor Bodybuilders and Engineers Limited
Filleted Unaudited Financial Statements
30 June 2021
BP Motor Bodybuilders and Engineers Limited
Financial Statements
Year ended 30 June 2021
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
BP Motor Bodybuilders and Engineers Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of BP Motor Bodybuilders and Engineers Limited
Year ended 30 June 2021
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 June 2021, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HARPER SHELDON LIMITED Chartered Accountants
Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ
22 March 2022
BP Motor Bodybuilders and Engineers Limited
Statement of Financial Position
30 June 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
5
69,961
70,981
Current assets
Stocks
35,317
9,827
Debtors
6
17,454
28,684
Cash at bank and in hand
66,354
75,829
---------
---------
119,125
114,340
Creditors: amounts falling due within one year
7
38,880
31,525
---------
---------
Net current assets
80,245
82,815
---------
---------
Total assets less current liabilities
150,206
153,796
Creditors: amounts falling due after more than one year
8
265,534
276,074
---------
---------
Net liabilities
( 115,328)
( 122,278)
---------
---------
Capital and reserves
Called up share capital
–
1
Profit and loss account
( 115,328)
( 122,279)
---------
---------
Shareholders deficit
( 115,328)
( 122,278)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BP Motor Bodybuilders and Engineers Limited
Statement of Financial Position (continued)
30 June 2021
These financial statements were approved by the board of directors and authorised for issue on 22 March 2022 , and are signed on behalf of the board by:
D J Kedward
L Kedward
Director
Director
Company registration number: 07283663
BP Motor Bodybuilders and Engineers Limited
Notes to the Financial Statements
Year ended 30 June 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, GL51 6TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company depends upon the continued support of the director. The director also agrees not to withdraw his support for a period not less than 12 months from the date of approval of these financial statements. No adjustments in respect of this support being withdrawn are included in these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Office Equipment & Furniture
-
10% & 40% per annum reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2020: 11 ).
5. Tangible assets
Leasehold Property Improvements
Plant & Machinery
Fixtures and fittings
Motor Vehicles
Total
£
£
£
£
£
Cost
At 1 July 2020
50,136
88,612
2,224
42,906
183,878
Additions
–
451
–
4,667
5,118
Disposals
–
( 1,065)
–
( 644)
( 1,709)
--------
--------
-------
--------
---------
At 30 June 2021
50,136
87,998
2,224
46,929
187,287
--------
--------
-------
--------
---------
Depreciation
At 1 July 2020
–
79,550
1,126
32,221
112,897
Charge for the year
–
2,271
325
3,452
6,048
Disposals
–
( 1,007)
–
( 612)
( 1,619)
--------
--------
-------
--------
---------
At 30 June 2021
–
80,814
1,451
35,061
117,326
--------
--------
-------
--------
---------
Carrying amount
At 30 June 2021
50,136
7,184
773
11,868
69,961
--------
--------
-------
--------
---------
At 30 June 2020
50,136
9,062
1,098
10,685
70,981
--------
--------
-------
--------
---------
6. Debtors
2021
2020
£
£
Trade debtors
8,830
24,808
Other debtors
8,624
3,876
--------
--------
17,454
28,684
--------
--------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
27,639
22,058
Social security and other taxes
8,939
6,915
Pension control
486
664
Other creditors
1,816
1,888
--------
--------
38,880
31,525
--------
--------
8. Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
265,534
276,074
---------
---------
9. Related party transactions
The company was under the control of Mr D Kedward throughout the current year. He is the managing director and majority shareholder.