IRIS Accounts Production v23.3.0.418 03615681 Board of Directors Board of Directors 1.2.22 31.1.23 31.1.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036156812022-01-31036156812023-01-31036156812022-02-012023-01-31036156812021-01-31036156812021-02-012022-01-31036156812022-01-3103615681ns10:Originalns15:EnglandWales2022-02-012023-01-3103615681ns14:PoundSterlingns10:Original2022-02-012023-01-3103615681ns10:Originalns10:Director12022-02-012023-01-3103615681ns10:Original2022-02-012023-01-3103615681ns10:Originalns10:Director22022-02-012023-01-3103615681ns10:Original2023-01-3103615681ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3103615681ns10:Originalns10:SmallEntities2022-02-012023-01-3103615681ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3103615681ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3103615681ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3103615681ns10:Originalns10:FullAccounts2022-02-012023-01-3103615681ns10:Originalns10:OrdinaryShareClass12022-02-012023-01-3103615681ns10:CompanySecretary1ns10:Original2022-02-012023-01-3103615681ns10:Originalns10:RegisteredOffice2022-02-012023-01-3103615681ns10:Original2022-01-3103615681ns10:Originalns5:CurrentFinancialInstruments2023-01-3103615681ns10:Originalns5:CurrentFinancialInstruments2022-01-3103615681ns10:Originalns5:Non-currentFinancialInstruments2023-01-3103615681ns10:Originalns5:Non-currentFinancialInstruments2022-01-3103615681ns5:ShareCapitalns10:Original2023-01-3103615681ns5:ShareCapitalns10:Original2022-01-3103615681ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3103615681ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3103615681ns10:Originalns5:LeaseholdImprovements2022-02-012023-01-3103615681ns10:Originalns5:PlantMachinery2022-02-012023-01-3103615681ns10:Originalns5:FurnitureFittings2022-02-012023-01-3103615681ns10:Originalns5:MotorVehicles2022-02-012023-01-3103615681ns10:Originalns5:ComputerEquipment2022-02-012023-01-3103615681ns10:Original2021-02-012022-01-3103615681ns10:Originalns5:LeaseholdImprovements2022-01-3103615681ns10:Originalns5:PlantMachinery2022-01-3103615681ns10:Originalns5:FurnitureFittings2022-01-3103615681ns10:Originalns5:LeaseholdImprovements2023-01-3103615681ns10:Originalns5:PlantMachinery2023-01-3103615681ns10:Originalns5:FurnitureFittings2023-01-3103615681ns10:Originalns5:LeaseholdImprovements2022-01-3103615681ns10:Originalns5:PlantMachinery2022-01-3103615681ns10:Originalns5:FurnitureFittings2022-01-3103615681ns10:Originalns5:MotorVehicles2022-01-3103615681ns10:Originalns5:ComputerEquipment2022-01-3103615681ns10:Original2022-01-3103615681ns10:Originalns5:MotorVehicles2023-01-3103615681ns10:Originalns5:ComputerEquipment2023-01-3103615681ns10:Originalns5:MotorVehicles2022-01-3103615681ns10:Originalns5:ComputerEquipment2022-01-3103615681ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-01-3103615681ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-02-012023-01-3103615681ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-3103615681ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-01-3103615681ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3103615681ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3103615681ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3103615681ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3103615681ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2023-01-3103615681ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2022-01-3103615681ns10:Originalns5:HirePurchaseContracts2023-01-3103615681ns10:Originalns5:HirePurchaseContracts2022-01-3103615681ns10:Originalns5:WithinOneYear2023-01-3103615681ns10:Originalns5:WithinOneYear2022-01-3103615681ns5:BetweenOneFiveYearsns10:Original2023-01-3103615681ns5:BetweenOneFiveYearsns10:Original2022-01-3103615681ns10:Originalns5:AllPeriods2023-01-3103615681ns10:Originalns5:AllPeriods2022-01-3103615681ns10:Originalns5:DeferredTaxation2022-01-3103615681ns10:Originalns5:DeferredTaxation2022-02-012023-01-3103615681ns10:Originalns5:DeferredTaxation2023-01-3103615681ns10:Originalns10:OrdinaryShareClass12023-01-31
REGISTERED NUMBER: 03615681 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BIRMINGHAM SEALS COMPANY LIMITED

BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BIRMINGHAM SEALS COMPANY LIMITED

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: A M Brown
Mrs C L Brown





SECRETARY: Mrs C L Brown





REGISTERED OFFICE: Unit 31, Regal Drive
Walsall Enterprise Park
Wednesbury Road
Walsall
West Midlands
WS2 9HQ





REGISTERED NUMBER: 03615681 (England and Wales)





ACCOUNTANTS: LDP Luckmans
Chartered Accountants
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,259 44,538

CURRENT ASSETS
Stocks 381,109 326,387
Debtors 5 866,829 913,189
Cash at bank 420,215 381,638
1,668,153 1,621,214
CREDITORS
Amounts falling due within one year 6 348,750 397,319
NET CURRENT ASSETS 1,319,403 1,223,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,412,662

1,268,433

CREDITORS
Amounts falling due after more than one
year

7

(46,551

)

(11,115

)

PROVISIONS FOR LIABILITIES 10 (21,277 ) (6,508 )
NET ASSETS 1,344,834 1,250,810

CAPITAL AND RESERVES
Called up share capital 11 3,750 3,750
Retained earnings 1,341,084 1,247,060
SHAREHOLDERS' FUNDS 1,344,834 1,250,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)

BALANCE SHEET - continued
31 January 2023


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 19 October 2023 and were signed on its behalf by:




A M Brown - Director



Mrs C L Brown - Director


BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Birmingham Seals Company 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 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.

Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2022 21,775 22,447 81,627
Additions - 5,619 -
At 31 January 2023 21,775 28,066 81,627
DEPRECIATION
At 1 February 2022 20,951 20,631 80,654
Charge for year 430 1,082 279
At 31 January 2023 21,381 21,713 80,933
NET BOOK VALUE
At 31 January 2023 394 6,353 694
At 31 January 2022 824 1,816 973

BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 52,357 60,108 238,314
Additions 69,230 9,592 84,441
At 31 January 2023 121,587 69,700 322,755
DEPRECIATION
At 1 February 2022 23,183 48,357 193,776
Charge for year 28,245 5,684 35,720
At 31 January 2023 51,428 54,041 229,496
NET BOOK VALUE
At 31 January 2023 70,159 15,659 93,259
At 31 January 2022 29,174 11,751 44,538

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022 27,867
Additions 69,230
At 31 January 2023 97,097
DEPRECIATION
At 1 February 2022 14,580
Charge for year 22,122
At 31 January 2023 36,702
NET BOOK VALUE
At 31 January 2023 60,395
At 31 January 2022 13,287

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 491,771 536,294
Amounts owed by group undertakings 334,585 336,858
Other debtors - 619
Prepayments 40,473 39,418
866,829 913,189

BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 29,678 9,355
Trade creditors 193,654 211,398
Tax 48,523 114,320
Social security and other taxes 6,178 2,759
VAT 57,326 41,882
Other creditors 3,396 3,284
Accrued expenses 9,995 14,321
348,750 397,319

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 46,551 11,115

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 29,678 9,355
Between one and five years 46,551 11,115
76,229 20,470

Non-cancellable operating leases
2023 2022
£    £   
Within one year 31,410 36,447
Between one and five years 52,361 79,552
83,771 115,999

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 76,229 20,470

Hire purchase contracts are secured on the assets to which they relate.

BIRMINGHAM SEALS COMPANY LIMITED (REGISTERED NUMBER: 03615681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 21,277 6,508

Deferred
tax
£   
Balance at 1 February 2022 6,508
Charge to Income Statement during year 14,769
Balance at 31 January 2023 21,277

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,750 Ordinary £1 3,750 3,750

12. PARENT COMPANY AND ULTIMATE PARENT COMPANY

The immediate parent company of Birmingham Seals Company Limited is Stuant Limited.

The ultimate parent company of the group is Antclaire Limited.