Registered number
06349864
Bloodfast EVS Ltd
Unaudited Filleted Accounts
30 September 2021
Bloodfast EVS Ltd
Registered number: 06349864
Balance Sheet
as at 30 September 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 11,796 11,796
Tangible assets 4 309,319 240,846
321,115 252,642
Current assets
Stocks 65,615 32,486
Debtors 5 49,827 31,910
Cash at bank and in hand 3,711 30,921
119,153 95,317
Creditors: amounts falling due within one year 6 (146,289) (105,681)
Net current liabilities (27,136) (10,364)
Total assets less current liabilities 293,979 242,278
Creditors: amounts falling due after more than one year 7 (225,501) (169,329)
Provisions for liabilities (8,363) (8,305)
Net assets 60,115 64,644
Capital and reserves
Profit and loss account 60,115 64,644
Total reserves 60,115 64,644
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J W Spinks
Director
Approved by the board on 31 August 2022
Bloodfast EVS Ltd
Notes to the Accounts
for the year ended 30 September 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 24 26
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2020 11,796
At 30 September 2021 11,796
Amortisation
At 30 September 2021 -
Net book value
At 30 September 2021 11,796
At 30 September 2020 11,796
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2020 27,248 316,107 343,355
Additions 13,640 157,869 171,509
Disposals - (67,899) (67,899)
At 30 September 2021 40,888 406,077 446,965
Depreciation
At 1 October 2020 10,539 91,970 102,509
Charge for the year 4,869 73,455 78,324
On disposals - (43,187) (43,187)
At 30 September 2021 15,408 122,238 137,646
Net book value
At 30 September 2021 25,480 283,839 309,319
At 30 September 2020 16,709 224,137 240,846
5 Debtors 2021 2020
£ £
Trade debtors 42,761 25,744
Directors' loan accounts 6,166 6,166
Other debtors 900 -
49,827 31,910
6 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 8,229 -
Obligations under finance lease and hire purchase contracts 78,716 51,403
Trade creditors 8,548 2,991
Value added tax 28,004 36,051
PAYE and social security costs 20,467 10,885
Other creditors 2,325 4,351
146,289 105,681
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 38,402 50,000
Obligations under finance lease and hire purchase contracts 187,099 119,329
225,501 169,329
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J W Spinks
Director's loan account 6,166 - - 6,166
6,166 - - 6,166
9 Other information
Bloodfast EVS Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1a
Viking Close
Willerby
East Yorkshire
HU10 6DZ
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