Burner & Boiler Spares Limited - Accounts to registrar (filleted) - small 23.1.2

Burner & Boiler Spares Limited - Accounts to registrar (filleted) - small 23.1.2

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 2022

for

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






Contents of the Financial Statements
for the Year Ended 30 September 2022




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 2022







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 2022

30.9.22 30.9.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 11,045 11,807

CURRENT ASSETS
Stocks 175,700 165,310
Debtors 4 844,563 634,164
Cash at bank and in hand 184,650 169,214
1,204,913 968,688
CREDITORS
Amounts falling due within one year 5 998,197 817,801
NET CURRENT ASSETS 206,716 150,887
TOTAL ASSETS LESS CURRENT
LIABILITIES
217,761
162,694

CREDITORS
Amounts falling due after more than one year 6 27,803 38,007
NET ASSETS 189,958 124,687

CAPITAL AND RESERVES
Called up share capital 5,200 5,200
Retained earnings 8 184,758 119,487
SHAREHOLDERS' FUNDS 189,958 124,687

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 2022


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 26 June 2023 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 2022

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 7 (2021 - 6 ) .

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

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2021 49,974
Additions 3,365
At 30 September 2022 53,339
DEPRECIATION
At 1 October 2021 38,167
Charge for year 4,127
At 30 September 2022 42,294
NET BOOK VALUE
At 30 September 2022 11,045
At 30 September 2021 11,807

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Trade debtors 841,163 630,649
Other debtors 3,400 3,515
844,563 634,164

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Bank loans and overdrafts 9,772 9,508
Trade creditors 493,981 380,253
Taxation and social security 78,131 44,572
Other creditors 416,313 383,468
998,197 817,801

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.22 30.9.21
£    £   
Bank loans 27,803 38,007

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

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

7. SECURED DEBTS

The following secured debts are included within creditors:

30.9.22 30.9.21
£    £   
Invoice discounter 408,865 362,563

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 2021 119,487
Profit for the year 175,521
Dividends (110,250 )
At 30 September 2022 184,758

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments not included in the balance sheet amount to £58,540 (2021 : £86,220)

Page 6