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Registered number: 01945626


BADGER ANODISING (BIRMINGHAM) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9

 
BADGER ANODISING (BIRMINGHAM) LIMITED
REGISTERED NUMBER:01945626

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
201,655
235,569

  
201,655
235,569

Current assets
  

Stocks
  
12,500
10,500

Debtors: amounts falling due within one year
 6 
374,765
283,983

Current asset investments
 7 
108,930
110,515

Cash at bank and in hand
  
462,550
477,276

  
958,745
882,274

Creditors: amounts falling due within one year
 8 
(228,078)
(279,345)

Net current assets
  
 
 
730,667
 
 
602,929

Total assets less current liabilities
  
932,322
838,498

Provisions for liabilities
  

Deferred tax
 9 
(7,000)
(11,000)

Net assets
  
925,322
827,498


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
925,222
827,398

  
925,322
827,498

Page 1

 
BADGER ANODISING (BIRMINGHAM) LIMITED
REGISTERED NUMBER:01945626
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr A.A. Law
Director

Date: 11 October 2023

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Badger Anodising (Birmingham) Limited (the company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is 42-50 Bissell Street, Birmingham, B5 7HP, which is also the address of its principal place of business. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Depreciation is provided on the following basis:

Freehold property
-
1%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Equipment
-
25%
reducing balance

 
2.5

Valuation of investments

Listed current asset investments, are measured at fair value, with movements going through other comprehensive income. The fair value of £108,930 and the £1,585 movement in the year included in other comprehensive income for the year was determined by reference to the bid price at the year end.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of income and retained earnings.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

 
2.12

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.13

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
 
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 22).

Page 5

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
41,650



At 31 March 2023

41,650



Amortisation


At 1 April 2022
41,650



At 31 March 2023

41,650



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 6

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Equipment
Total

£
£
£
£
£



Cost 


At 1 April 2022
142,157
480,433
161,941
45,342
829,873


Additions
-
23,636
-
788
24,424


Disposals
-
-
(95,033)
-
(95,033)



At 31 March 2023

142,157
504,069
66,908
46,130
759,264



Depreciation


At 1 April 2022
21,224
449,490
86,004
37,586
594,304


Charge for the year on owned assets
1,021
13,645
11,495
2,136
28,297


Charge for the year on financed assets
-
-
6,863
-
6,863


Disposals
-
-
(71,855)
-
(71,855)



At 31 March 2023

22,245
463,135
32,507
39,722
557,609



Net book value



At 31 March 2023
119,912
40,934
34,401
6,408
201,655



At 31 March 2022
120,933
30,943
75,937
7,756
235,569

Freehold property includes land of £40,057 (2022 - £40,057) which is not depreciated

The net book value of assets held under hire purchase is £Nil (2022 - £29,948).


6.


Debtors

2023
2022
£
£


Trade debtors
248,627
260,305

Other debtors
111,057
6,540

Prepayments and accrued income
15,081
17,138

374,765
283,983


Page 7

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Current asset investments

2023
2022
£
£

Listed investments
108,930
110,515


2023
2022
£
£


Opening fair value
110,515
101,248

Gains on remeasurement to fair value
(1,585)
9,267

Market value
108,930
110,515





8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
49,045
34,376

Corporation tax
65,500
102,500

Other taxation and social security
74,374
74,417

Obligations under finance lease and hire purchase contracts
-
42,256

Accruals and deferred income
39,159
25,796

228,078
279,345


The following liabilities were secured:

2023
2022
£
£



Obligations under finance lease and hire purchase contracts
-
42,256

Details of security provided:

Amounts outstanding on obligations under finance leases and hire purchase contracts were secured on the underlying assets.

Page 8

 
BADGER ANODISING (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
(11,000)
(16,000)


Charged to profit or loss
4,000
5,000



At end of year
(7,000)
(11,000)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,000)
(11,000)


10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £54,141 (2022 - £33,039). At the balance sheet date there was a balance of £751 (2022 - £1,287) in respect of pension contributions owing.


11.


Commitments under operating leases

At 31 March 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
23,847
16,597

Later than 1 year and not later than 5 years
82,072
7,169

Later than 5 years
98,750
-

204,669
23,766

 
Page 9