Registered number
11046176
Bole Machinery Ltd
Filleted Accounts
30 November 2022
Bole Machinery Ltd
Registered number: 11046176
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 47,593 56,993
Current assets
Stocks 303,490 742,947
Debtors 4 717,469 332,181
Cash at bank and in hand 1,270 834,611
1,022,229 1,909,739
Creditors: amounts falling due within one year 5 (619,623) (1,492,954)
Net current assets 402,606 416,785
Total assets less current liabilities 450,199 473,778
Creditors: amounts falling due after more than one year 6 (318,738) (262,698)
Net assets 131,461 211,080
Capital and reserves
Called up share capital 100 100
Profit and loss account 131,361 210,980
Shareholder's funds 131,461 211,080
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr H S Khera
Director
Approved by the board on 13 November 2023
Bole Machinery Ltd
Notes to the Accounts
for the year ended 30 November 2022
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.
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 10 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021 94,001
At 30 November 2022 94,001
Depreciation
At 1 December 2021 37,008
Charge for the year 9,400
At 30 November 2022 46,408
Net book value
At 30 November 2022 47,593
At 30 November 2021 56,993
4 Debtors 2022 2021
£ £
Trade debtors 717,469 221,068
Other debtors - 111,113
717,469 332,181
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 374,411 1,299,594
Amounts owed to group undertakings 45,000 45,000
Taxation and social security costs 165,224 96,110
Other creditors 24,340 41,602
619,623 1,492,954
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 25,007 34,633
Other creditors 293,731 228,065
318,738 262,698
7 Other information
Bole Machinery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Shaw Park Business Village
Shaw Road
Wolverhampton
WV10 9LE
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