Black Isle Bronze Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC244319 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 April 2022

for

Black Isle Bronze Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

F P Ogilvie-Laing

SECRETARY:

Ms C J Gilchrist

REGISTERED OFFICE:

Black Isle Bronze Ltd

4a Nairn Business Park

Nairn

Highland

IV12 5QR

REGISTERED NUMBER:

SC244319 (Scotland)

ACCOUNTANTS:

Michael Finn & Co

Myrtle House

High Street

HENFIELD

West Sussex

BN5 9DA

FIXED ASSETS

Tangible assets

4

603,726

573,096

CURRENT ASSETS

Stocks

20,000

18,500

Debtors

5

121,993

164,074

Cash at bank and in hand

91,674

95,878

233,667

278,452

CREDITORS

Amounts falling due within one year

6

143,023

274,621

NET CURRENT ASSETS

90,644

3,831

TOTAL ASSETS LESS CURRENT LIABILITIES

694,370

576,927

CREDITORS

Amounts falling due after more than one year

7

(74,079

)

(125,209

)

PROVISIONS FOR LIABILITIES

(52,758

)

(46,938

)

NET ASSETS

567,533

404,780

CAPITAL AND RESERVES

Called up share capital

17,500

17,500

Revaluation reserve

8

55,471

55,471

Retained earnings

494,562

331,809

567,533

404,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 21 December 2022 and were signed by:

F P Ogilvie-Laing - Director

1.	STATUTORY INFORMATION

Black Isle Bronze 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.

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.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 May 2021

326,054

51,911

425,214

Additions

-

10,190

60,537

Reclassification/transfer

-

(31,567

)

31,567

At 30 April 2022

326,054

30,534

517,318

DEPRECIATION

At 1 May 2021

-

13,413

218,292

Charge for year

-

4,869

40,119

Reclassification/transfer

-

(5,998

)

5,998

At 30 April 2022

-

12,284

264,409

NET BOOK VALUE

At 30 April 2022

326,054

18,250

252,909

At 30 April 2021

326,054

38,498

206,922

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2021

983

8,422

812,584

Additions

2,109

6,161

78,997

Reclassification/transfer

-

-

-

At 30 April 2022

3,092

14,583

891,581

DEPRECIATION

At 1 May 2021

722

7,061

239,488

Charge for year

356

3,023

48,367

Reclassification/transfer

-

-

-

At 30 April 2022

1,078

10,084

287,855

NET BOOK VALUE

At 30 April 2022

2,014

4,499

603,726

At 30 April 2021

261

1,361

573,096

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Trade debtors

90,320

52,786

Shareholders loan

-

45,000

Other debtors

10,100

200

Directors' current accounts

19,824

-

VAT

-

65,323

Prepayments

1,749

765

121,993

164,074

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans and overdrafts

45,963

138,150

Other loans

2,415

2,415

Trade creditors

32,606

48,844

Charge card

474

165

Tax

40,245

27,334

Social security and other taxes

2,520

3,582

Pensions payable

5,683

2,443

VAT

1,587

-

Other creditors

8,030

8,000

Directors' current accounts

-

95

Accruals and deferred income

-

40,093

Accrued expenses

3,500

3,500

143,023

274,621

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans - 1-2 years

21,225

44,209

Bank loans - 2-5 years

34,787

50,537

Bank loans more 5 yr by instal

11,108

15,480

Other loans - 1-2 years

2,818

4,630

Hire purchase contracts

4,141

10,353

74,079

125,209

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

11,108

15,480

8.

RESERVES

Revaluation

reserve

£

At 1 May 2021

and 30 April 2022

55,471