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

REGISTERED NUMBER: SC244319 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 April 2021

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

573,096

517,761

CURRENT ASSETS

Stocks

63,500

7,842

Debtors

5

119,074

38,591

Cash at bank and in hand

95,878

38,699

278,452

85,132

CREDITORS

Amounts falling due within one year

6

274,621

175,489

NET CURRENT ASSETS/(LIABILITIES)

3,831

(90,357

)

TOTAL ASSETS LESS CURRENT LIABILITIES

576,927

427,404

CREDITORS

Amounts falling due after more than one year

7

(125,209

)

(99,207

)

PROVISIONS FOR LIABILITIES

(46,938

)

(36,424

)

NET ASSETS

404,780

291,773

CAPITAL AND RESERVES

Called up share capital

17,500

17,500

Revaluation reserve

8

55,471

55,471

Retained earnings

331,809

218,802

404,780

291,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 14 October 2021 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 11 (2020 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 May 2020

326,054

20,344

366,208

Additions

-

31,567

67,238

Reclassification/transfer

-

-

(8,232

)

At 30 April 2021

326,054

51,911

425,214

DEPRECIATION

At 1 May 2020

-

9,135

185,710

Charge for year

-

4,278

36,516

Reclassification/transfer

-

-

(3,934

)

At 30 April 2021

-

13,413

218,292

NET BOOK VALUE

At 30 April 2021

326,054

38,498

206,922

At 30 April 2020

326,054

11,209

180,498

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2020

-

-

712,606

Additions

-

1,173

99,978

Reclassification/transfer

983

7,249

-

At 30 April 2021

983

8,422

812,584

DEPRECIATION

At 1 May 2020

-

-

194,845

Charge for year

46

3,803

44,643

Reclassification/transfer

676

3,258

-

At 30 April 2021

722

7,061

239,488

NET BOOK VALUE

At 30 April 2021

261

1,361

573,096

At 30 April 2020

-

-

517,761

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

52,786

29,176

Other debtors

200

-

VAT

65,323

5,301

Prepayments

765

4,114

119,074

38,591

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

138,150

92,541

Other loans

2,415

1,980

Trade creditors

48,844

60,744

Charge card

165

-

Tax

27,334

-

Social security and other taxes

3,582

7,229

Pensions payable

2,443

-

Other creditors

8,000

8,000

Directors' current accounts

95

3

Accruals and deferred income

40,093

-

Accrued expenses

3,500

4,992

274,621

175,489

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans - 1-2 years

44,209

9,107

Bank loans - 2-5 years

50,537

27,321

Bank loans more 5 yr by instal

15,480

56,689

Other loans - 1-2 years

4,630

3,961

Other loans - 2-5 years

-

2,129

Hire purchase contracts

10,353

-

125,209

99,207

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

15,480

56,689

8.

RESERVES

Revaluation

reserve

£

At 1 May 2020

and 30 April 2021

55,471