Company Registration No. 01346965 (England and Wales)
B.S.T. CARRIERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
B.S.T. CARRIERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
B.S.T. CARRIERS LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
85,197
39,664
Cash at bank and in hand
20,766
73,124
105,963
112,788
Creditors: amounts falling due within one year
4
(32)
(6,780)
Net current assets
105,931
106,008
Capital and reserves
Called up share capital
50
50
Capital redemption reserve
50
50
Profit and loss reserves
105,831
105,908
Total equity
105,931
106,008
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
B.S.T. CARRIERS LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 October 2023 and are signed on its behalf by:
B. Taylor F.C.A
A. Taylor
Director
Director
Company Registration No. 01346965
B.S.T. CARRIERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements the directors' have a reasonable expectation that thetrue company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors' continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantially enacted at the balance sheet date.
1.5
Company information
B.S.T. Carriers Limited is a private company limited by shares incorporated in England and Wales. The registered office is Group Distribution Depot, Grimshaw Lane, Middleton, Manchester, M24 2AA.
B.S.T. CARRIERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 4 (2022 - 4).
2023
2022
Number
Number
Total
4
4
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
8,466
39,664
Other debtors
76,731
85,197
39,664
4
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
31
31
Other creditors
1
6,749
32
6,780
5
Financial commitments, guarantees and contingent liabilities
There is a contingent liability in respect of a guarantee given to The Royal Bank of Scotland plc on all advances to W. Harrison & Sons (Carriers) Ltd. The amount advanced at 31st May 2023 was £nil (2022: £nil) in respect of which a contingent liability existed.
6
Events after the reporting date
There have been no significant post balance sheet events.