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COMPANY REGISTRATION NUMBER: 04949994
BUMPERS UK LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2021
BUMPERS UK LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
1,000
1,500
Tangible assets
6
165,669
182,646
---------
---------
166,669
184,146
CURRENT ASSETS
Stocks
4,000
4,000
Debtors
7
61,056
48,530
Cash at bank and in hand
146,537
145,858
---------
---------
211,593
198,388
CREDITORS: amounts falling due within one year
8
109,683
112,464
---------
---------
NET CURRENT ASSETS
101,910
85,924
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
268,579
270,070
CREDITORS: amounts falling due after more than one year
9
111,041
138,522
PROVISIONS
Taxation including deferred tax
31,477
34,275
---------
---------
NET ASSETS
126,061
97,273
---------
---------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
126,060
97,272
---------
--------
SHAREHOLDERS FUNDS
126,061
97,273
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BUMPERS UK LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2021
These financial statements were approved by the board of directors and authorised for issue on 12 August 2022 , and are signed on behalf of the board by:
S.B. Payne
Director
Company registration number: 04949994
BUMPERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wellington New Mill, Chadwick Street, Blackburn, BB2 4AA.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
(c) Government grants
Government grants or assistance of a revenue nature are recognised in the same period as the related expenditure. Where the grant is for the purpose of giving immediate financial support with no future related costs the income is recognised in the period in which it becomes receivable.
(d) Revenue recognition
The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.
(e) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(f) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% per annum straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(g) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
10% per annum reducing balance
Fixtures & Fittings
-
15% per annum reducing balance
Motor Vehicles
-
25% per annum reducing balance
Office Equipment
-
25% per annum straight line
(i) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(j) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(k) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(l) Financial instruments
Basic financial instruments are recognised at amortised cost.
(m) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2020: 6 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 December 2020 and 30 November 2021
10,000
--------
Amortisation
At 1 December 2020
8,500
Charge for the year
500
--------
At 30 November 2021
9,000
--------
Carrying amount
At 30 November 2021
1,000
--------
At 30 November 2020
1,500
--------
6. TANGIBLE ASSETS
Plant & Machinery
Fixtures & Fittings
Motor Vehicles
Office Equipment
Total
£
£
£
£
£
Cost
At 1 December 2020
151,077
6,758
190,390
2,233
350,458
Additions
20,250
565
20,815
---------
-------
---------
-------
---------
At 30 November 2021
151,077
6,758
210,640
2,798
371,273
---------
-------
---------
-------
---------
Depreciation
At 1 December 2020
84,552
5,844
75,183
2,233
167,812
Charge for the year
6,662
137
30,911
82
37,792
---------
-------
---------
-------
---------
At 30 November 2021
91,214
5,981
106,094
2,315
205,604
---------
-------
---------
-------
---------
Carrying amount
At 30 November 2021
59,863
777
104,546
483
165,669
---------
-------
---------
-------
---------
At 30 November 2020
66,525
914
115,207
182,646
---------
-------
---------
-------
---------
7. DEBTORS
2021
2020
£
£
Trade debtors
40,296
38,607
Corporation tax repayable
9,823
Other debtors
20,760
100
--------
--------
61,056
48,530
--------
--------
8. CREDITORS: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
16,494
8,460
Trade creditors
6,387
9,844
Accruals and deferred income
3,590
3,739
Corporation tax
17,194
Social security and other taxes
21,524
11,398
Obligations under finance leases and hire purchase contracts
20,902
22,747
Director loan accounts
23,592
56,276
---------
---------
109,683
112,464
---------
---------
Obligations under finance leases and hire purchase contracts are secured.
9. CREDITORS: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
52,566
64,260
Obligations under finance leases and hire purchase contracts
58,475
74,262
---------
---------
111,041
138,522
---------
---------
Obligations under finance leases and hire purchase contracts are secured.
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
There are no transactions with directors that require disclosure under FRS 102 Section 1A.
11. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under the provisions of FRS 102 Section 1A.