Bag & Bale Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04168840 (England and Wales)

Bag & Bale Limited

Unaudited Financial Statements

for the Year Ended

31 March 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Brown

Ms J A Whittock

E A Smith

REGISTERED OFFICE:

Unit 5 Crown Industrial Estate

Crown Road

Warmley

Bristol

Avon

BS30 8JJ

REGISTERED NUMBER:

04168840 (England and Wales)

ACCOUNTANTS:

Moffat Gilbert

5 Clarendon Place

Leamington Spa

Warwickshire

CV32 5QL

FIXED ASSETS

Intangible assets

4

3,120

4,190

Tangible assets

5

1,828

1,809

4,948

5,999

CURRENT ASSETS

Stocks

55,764

90,888

Debtors

6

71,070

55,679

Cash at bank

252,364

178,941

379,198

325,508

CREDITORS

Amounts falling due within one year

7

97,851

77,464

NET CURRENT ASSETS

281,347

248,044

TOTAL ASSETS LESS CURRENT LIABILITIES

286,295

254,043

PROVISIONS FOR LIABILITIES

347

-

NET ASSETS

285,948

254,043

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

285,848

253,943

SHAREHOLDERS' FUNDS

285,948

254,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 December 2021 and were signed on its behalf by:

P A Brown - Director

E A Smith - Director

1.	STATUTORY INFORMATION

Bag & Bale Limited is a private company, limited by shares , registered in England and Wales. 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance and 20% on reducing balance

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 5 (2020 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2020

and 31 March 2021

4,279

AMORTISATION

At 1 April 2020

89

Charge for year

1,070

At 31 March 2021

1,159

NET BOOK VALUE

At 31 March 2021

3,120

At 31 March 2020

4,190

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

12,964

Additions

480

At 31 March 2021

13,444

DEPRECIATION

At 1 April 2020

11,155

Charge for year

461

At 31 March 2021

11,616

NET BOOK VALUE

At 31 March 2021

1,828

At 31 March 2020

1,809

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

52,064

53,295

Other debtors

19,006

2,384

71,070

55,679

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

62,261

44,613

Taxation and social security

20,748

15,202

Other creditors

14,842

17,649

97,851

77,464

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

During the year the company provided goods and services in the amount of £72,703 to Waste Handling Solutions Limited and received goods and services therefrom in the amount of £8,080. The director P A Brown has an interest in both companies. The amount owed at the year end by Waste Handling Solutions Limited to the company was £13,736 (2020 owed to Waste Handling Solutions Limited £4,969).

The company also provided goods and services in the amount of £1,711 to Balecom Limited in the year. The director P A Brown has an interest in both companies. The amount owed at the year end by Balecom Limited to the company was £456 (2020 £524).

The director P A Brown is also a director of WHS (Environmental) Limited. The company sold goods to this business in the year in the amount of £1,624 and was provided with goods and services therefrom in the amount of £100. The balance owed to the company by WHS (Environmental) Limited at the year end was £1,044 (2020 owed to WHS (Environmental) Limited £75).

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the director, P A Brown.