B & B Machining Services Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02658460 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

B & B MACHINING SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Harris

R J Harris

Mrs A E Harris

SECRETARY:

Mrs A E Harris

REGISTERED OFFICE:

Unit 9 Little Forge Road

Park Farm

Redditch

Worcestershire

B98 7SF

REGISTERED NUMBER:

02658460 (England and Wales)

ACCOUNTANTS:

Prince Accountancy

Chartered Certified Accountants

Charter House

Sandford Street

Lichfield

Staffordshire

WS13 6QA

FIXED ASSETS

Tangible assets

4

232,946

251,184

CURRENT ASSETS

Stocks

120

120

Debtors

13,460

24,850

Cash at bank

14,931

10,706

28,511

35,676

CREDITORS

Amounts falling due within one year

29,525

50,191

NET CURRENT LIABILITIES

(1,014

)

(14,515

)

TOTAL ASSETS LESS CURRENT LIABILITIES

231,932

236,669

CREDITORS

Amounts falling due after more than one year

5

130,117

114,282

NET ASSETS

101,815

122,387

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

6

24,784

24,784

Retained earnings

76,931

97,503

SHAREHOLDERS' FUNDS

101,815

122,387

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 April 2023 and were signed on its behalf by:

S J Harris - Director

R J Harris - Director

1.	STATUTORY INFORMATION

B & B Machining Services 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 as modified by the revaluation of certain assets.

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.

Plant and machinery etc

-

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.

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 2 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 December 2021

and 30 November 2022

318,145

DEPRECIATION

At 1 December 2021

66,961

Charge for year

18,238

At 30 November 2022

85,199

NET BOOK VALUE

At 30 November 2022

232,946

At 30 November 2021

251,184

Fixed assets include Freehold Property valued at £160,000.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30/11/22

30/11/21

£

£

Repayable by instalments

Other loans more 5yrs instal

19,167

19,167

6.

RESERVES

Revaluation

reserve

£

At 1 December 2021

and 30 November 2022

24,784

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021:

30/11/22

30/11/21

£

£

R J Harris

Balance outstanding at start of year

-

20,000

Amounts repaid

-

(20,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-