B A V Ltd 07038914 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is hire of equipment Digita Accounts Production Advanced 6.30.9574.0 true 07038914 2022-04-01 2023-03-31 07038914 2023-03-31 07038914 bus:OrdinaryShareClass1 2023-03-31 07038914 core:RetainedEarningsAccumulatedLosses 2023-03-31 07038914 core:RevaluationReserve 2023-03-31 07038914 core:ShareCapital 2023-03-31 07038914 core:CurrentFinancialInstruments 2023-03-31 07038914 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07038914 core:MotorVehicles 2023-03-31 07038914 core:OtherPropertyPlantEquipment 2023-03-31 07038914 bus:SmallEntities 2022-04-01 2023-03-31 07038914 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07038914 bus:AbridgedAccounts 2022-04-01 2023-03-31 07038914 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07038914 bus:RegisteredOffice 2022-04-01 2023-03-31 07038914 bus:Director1 2022-04-01 2023-03-31 07038914 bus:Director2 2022-04-01 2023-03-31 07038914 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07038914 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07038914 core:CommercialMotorVehicles 2022-04-01 2023-03-31 07038914 core:MotorVehicles 2022-04-01 2023-03-31 07038914 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 07038914 core:PlantMachinery 2022-04-01 2023-03-31 07038914 countries:UnitedKingdom 2022-04-01 2023-03-31 07038914 2022-03-31 07038914 core:MotorVehicles 2022-03-31 07038914 core:OtherPropertyPlantEquipment 2022-03-31 07038914 2021-04-01 2022-03-31 07038914 2022-03-31 07038914 bus:OrdinaryShareClass1 2022-03-31 07038914 core:RetainedEarningsAccumulatedLosses 2022-03-31 07038914 core:RevaluationReserve 2022-03-31 07038914 core:ShareCapital 2022-03-31 07038914 core:CurrentFinancialInstruments 2022-03-31 07038914 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07038914 core:MotorVehicles 2022-03-31 07038914 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07038914

B A V Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

B A V Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

B A V Ltd

Company Information

Directors

Mr David Goodchild

Mrs L.A. Goodchild

Registered office

Unit 1 Barons Court Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

Accountants

Rawcliffe & Co Limited
Chartered Accountants
Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

 

B A V Ltd

(Registration number: 07038914)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,240

13,850

Current assets

 

Debtors

5

-

1,961

Investments

6

364,054

364,054

 

364,054

366,015

Creditors: Amounts falling due within one year

(44,969)

(14,072)

Net current assets

 

319,085

351,943

Total assets less current liabilities

 

330,325

365,793

Provisions for liabilities

(2,136)

(2,632)

Accruals and deferred income

 

(1,234)

(808)

Net assets

 

326,955

362,353

Capital and reserves

 

Called up share capital

7

2

2

Revaluation reserve

62,708

62,708

Retained earnings

264,245

299,643

Shareholders' funds

 

326,955

362,353

 

B A V Ltd

(Registration number: 07038914)
Abridged Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 October 2023 and signed on its behalf by:
 

.........................................
Mr David Goodchild
Director

 

B A V Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 1 Barons Court Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP
England

These financial statements were authorised for issue by the Board on 24 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

B A V Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & equipment

34.3% on the reducing balance

Motor Vehicles

25% on the reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

B A V Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

B A V Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

7,000

81,994

88,994

Additions

-

2,518

2,518

At 31 March 2023

7,000

84,512

91,512

Depreciation

At 1 April 2022

1,750

73,394

75,144

Charge for the year

1,310

3,818

5,128

At 31 March 2023

3,060

77,212

80,272

Carrying amount

At 31 March 2023

3,940

7,300

11,240

At 31 March 2022

5,250

8,600

13,850

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Current asset investments

2023
£

2022
£

Other investments

364,054

364,054

Listed investments

Investments having a net book value of £364,054 (31 March 2022 - £364,054) are listed on a recognised stock exchange and had a market value of £364,054 at the end of the year (31 March 2022 - £364,054).

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2