Burner & Boiler Spares Limited - Accounts to registrar (filleted) - small 18.2

Burner & Boiler Spares Limited - Accounts to registrar (filleted) - small 18.2

BURNER & BOILER SPARES LIMITED - Company Information

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REGISTERED NUMBER: 03942257 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 30 September 2021

for

Burner & Boiler Spares Limited
Burner & Boiler Spares Limited (Registered number: 03942257)






Contents of the Financial Statements
for the Year Ended 30 September 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Burner & Boiler Spares Limited

Company Information
for the Year Ended 30 September 2021







DIRECTORS: C.P. Lucas
A Lucas





REGISTERED OFFICE: Suite 3 Warren House
10-20 Main Road
Hockley
Essex
SS5 4QS





REGISTERED NUMBER: 03942257 (England and Wales)





ACCOUNTANTS: Anser Solutions!
Chartered Accountants
Suite 3 Warren House
10-20 Main Road
Hockley
Essex
SS5 4QS
Page 1
Burner & Boiler Spares Limited (Registered number: 03942257)

Balance Sheet
30 September 2021

30.9.21 30.9.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 11,807 15,075

CURRENT ASSETS
Stocks 165,310 161,236
Debtors 4 634,164 413,155
Cash at bank and in hand 169,214 111,730
968,688 686,121
CREDITORS
Amounts falling due within one year 5 817,801 538,256
NET CURRENT ASSETS 150,887 147,865
TOTAL ASSETS LESS CURRENT
LIABILITIES
162,694
162,940

CREDITORS
Amounts falling due after more than one
year
6
38,007
47,650
NET ASSETS 124,687 115,290

CAPITAL AND RESERVES
Called up share capital 5,200 5,200
Retained earnings 8 119,487 110,090
SHAREHOLDERS' FUNDS 124,687 115,290

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these financial statements

Page 2 continued...
Burner & Boiler Spares Limited (Registered number: 03942257)

Balance Sheet - continued
30 September 2021


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 28 February 2022 and were signed on its behalf by:





C.P. Lucas - Director


The notes form part of these financial statements

Page 3
Burner & Boiler Spares Limited (Registered number: 03942257)

Notes to the Financial Statements
for the Year Ended 30 September 2021

1. 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.

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 etc - 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.

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 makes employers contributions into the personal pensions scheme of eligible employees. Contributions deemed payable are charged to the profit and loss account to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 7 ) .

Page 4 continued...
Burner & Boiler Spares Limited (Registered number: 03942257)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2020 48,778
Additions 1,196
At 30 September 2021 49,974
DEPRECIATION
At 1 October 2020 33,703
Charge for year 4,464
At 30 September 2021 38,167
NET BOOK VALUE
At 30 September 2021 11,807
At 30 September 2020 15,075

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Trade debtors 630,649 410,695
Other debtors 3,515 2,460
634,164 413,155

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Bank loans and overdrafts 9,508 2,350
Trade creditors 380,253 257,063
Taxation and social security 44,572 55,257
Other creditors 383,468 223,586
817,801 538,256

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.21 30.9.20
£    £   
Bank loans 38,007 47,650

Page 5 continued...
Burner & Boiler Spares Limited (Registered number: 03942257)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

7. SECURED DEBTS

The following secured debts are included within creditors:

30.9.21 30.9.20
£    £   
Invoice discounter 362,563 212,154

Factored debts are secured by way of a fixed and floating charge over the company's assets, whilst hire purchase liabilities are secured against the specific assets they were used to procure.

8. RESERVES
Retained
earnings
£   

At 1 October 2020 110,090
Profit for the year 114,397
Dividends (105,000 )
At 30 September 2021 119,487

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments not included in the balance sheet amount to £86,220 (2020 : £149,595)

Page 6