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REGISTERED NUMBER: 00869827 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Bindon Engineering Company Limited

Bindon Engineering Company Limited (Registered number: 00869827)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Bindon Engineering Company Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: R E M Lawrence
I M Lawrence





SECRETARY: R E M Lawrence





REGISTERED OFFICE: Unit 31 Holton Road
Holton Heath Ind. Estate
Poole
Dorset
BH16 6LT





REGISTERED NUMBER: 00869827 (England and Wales)





ACCOUNTANTS: Ward Goodman
St Mary's House
24 North Street
Wareham
Dorset
BH20 4AG

Bindon Engineering Company Limited (Registered number: 00869827)

Abridged Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,379,433 2,390,537
2,379,433 2,390,537

CURRENT ASSETS
Stocks 1,751,150 1,618,449
Debtors 1,174,658 1,289,311
Prepayments and accrued income 13,007 11,844
Cash at bank 186,567 440,693
3,125,382 3,360,297
CREDITORS
Amounts falling due within one year 628,543 923,971
NET CURRENT ASSETS 2,496,839 2,436,326
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,876,272

4,826,863

CREDITORS
Amounts falling due after more than one year (101,438 ) (90,155 )

PROVISIONS FOR LIABILITIES (169,193 ) (108,755 )

ACCRUALS AND DEFERRED INCOME (20,127 ) (21,323 )
NET ASSETS 4,585,514 4,606,630

Bindon Engineering Company Limited (Registered number: 00869827)

Abridged Balance Sheet - continued
31 July 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Capital redemption reserve 5,000 5,000
Retained earnings 4,575,514 4,596,630
SHAREHOLDERS' FUNDS 4,585,514 4,606,630

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

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

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

All the members have consented to the preparation of an abridged Profit and Loss Account and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by:





I M Lawrence - Director


Bindon Engineering Company Limited (Registered number: 00869827)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Bindon Engineering 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.
Freehold property - Straight line over 46 years
Plant and machinery - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 Profit and Loss Account, 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.

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.

Bindon Engineering Company Limited (Registered number: 00869827)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2022 - 49 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 8,587,567
Additions 209,627
Disposals (71,550 )
At 31 July 2023 8,725,644
DEPRECIATION
At 1 August 2022 6,197,030
Charge for year 220,731
Eliminated on disposal (71,550 )
At 31 July 2023 6,346,211
NET BOOK VALUE
At 31 July 2023 2,379,433
At 31 July 2022 2,390,537

Bindon Engineering Company Limited (Registered number: 00869827)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 August 2022 1,291,377
Additions 192,000
At 31 July 2023 1,483,377
DEPRECIATION
At 1 August 2022 431,175
Charge for year 143,538
At 31 July 2023 574,713
NET BOOK VALUE
At 31 July 2023 908,664
At 31 July 2022 860,202

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 219,704 222,515

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