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REGISTERED NUMBER: 02655601 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

B. L. SEARLE LIMITED

B. L. SEARLE LIMITED (REGISTERED NUMBER: 02655601)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


B. L. SEARLE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr S E Searle
Mrs S Searle



SECRETARY: Mrs S Searle



REGISTERED OFFICE: 4 Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP



REGISTERED NUMBER: 02655601 (England and Wales)



ACCOUNTANTS: Davey Grover Limited
Chartered Accountants
Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP



BANKERS: Barclays Bank plc
41 High Street
St. Neots
Cambridgeshire
PE19 1AS

B. L. SEARLE LIMITED (REGISTERED NUMBER: 02655601)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,985 12,622

CURRENT ASSETS
Stocks 14,810 22,237
Debtors 5 54,571 27,836
Cash at bank 588 10,217
69,969 60,290
CREDITORS
Amounts falling due within one year 6 64,019 58,524
NET CURRENT ASSETS 5,950 1,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,935

14,388

PROVISIONS FOR LIABILITIES 2,467 2,398
NET ASSETS 16,468 11,990

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 15,468 10,990
SHAREHOLDERS' FUNDS 16,468 11,990

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

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

B. L. SEARLE LIMITED (REGISTERED NUMBER: 02655601)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 14 November 2023 and were signed on its behalf by:





Mr S E Searle - Director


B. L. SEARLE LIMITED (REGISTERED NUMBER: 02655601)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

B. L. Searle 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 for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1 April 2015. The transition to FRS 102 Section 1A small entities has not resulted in any changes to the accounting estimates.

The principal accounting policies adopted in these financial statements have remained unchanged from the previous year, and have therefore been consistently applied.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. The following criteria must also be met before revenue is recognised:

Supply of goods
Revenue is recognised when goods are delivered and supplied.

Alterations of goods and fitting
Revenue is recognised at the completion of the repair or fitting.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Repairs and maintenance of assets are charged to the income statement during the period in which they are incurred.

Depreciation is charged so as to allocate the cost or valuation of assets less their residual value, over their estimated useful lives on the following basis:

Plant and machinery - 15% reducing balance.
Fixtures and fittings - 15% reducing balance.
Computers - 33.3% on cost.
Motor vehicles - 25% on reducing balance.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


B. L. SEARLE LIMITED (REGISTERED NUMBER: 02655601)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Basis of preparation
The accounts have been prepared on a going concern basis on the assumption that the support of the company's creditors will continue. The management of the company have reviewed the company's future trading position and are confident that the company will return to profitability and will be able to operate under normal borrowing facilities. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of the support.

Debtors
Short term debtors are measured at transaction price, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

B. L. SEARLE LIMITED (REGISTERED NUMBER: 02655601)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 220,344
Additions 3,231
At 31 March 2023 223,575
DEPRECIATION
At 1 April 2022 207,722
Charge for year 2,868
At 31 March 2023 210,590
NET BOOK VALUE
At 31 March 2023 12,985
At 31 March 2022 12,622


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 43,173 14,983
Other debtors 11,398 12,853
54,571 27,836

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,439 -
Trade creditors 37,685 41,576
Taxation and social security 16,824 10,785
Other creditors 5,071 6,163
64,019 58,524

B. L. SEARLE LIMITED (REGISTERED NUMBER: 02655601)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 4,439 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr S E Searle and Mrs S Searle
Balance outstanding at start of year 4,583 -
Amounts advanced 25,977 4,583
Amounts repaid (20,215 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,345 4,583

The directors loan was provided interest free during the year and was repaid on 26 April 2023.

9. RELATED PARTY DISCLOSURES

The mother of Mr S E Searle have given the Company's bankers a personal guarantee of up to £30,000 as security.