Registered number
08448158
BTM Electrics Limited
Filleted Accounts
31 March 2023
BTM Electrics Limited
Registered number: 08448158
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 22,000 30,000
Current assets
Stocks 3,996 3,733
Debtors 4 22,380 23,821
Cash at bank and in hand 23,954 11,743
50,330 39,297
Creditors: amounts falling due within one year 5 (34,390) (21,389)
Net current assets 15,940 17,908
Total assets less current liabilities 37,940 47,908
Creditors: amounts falling due after more than one year 6 (37,830) (47,799)
Net assets 110 109
Capital and reserves
Called up share capital 100 100
Profit and loss account 10 9
Shareholders' funds 110 109
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
TM Hogg
Director
Approved by the board on 3 November 2023
BTM Electrics Limited
Notes to the Accounts
for the year ended 31 March 2023
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:
Fixtures, fittings, tools and equipment over 4 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 2,683 40,000 42,683
At 31 March 2023 2,683 40,000 42,683
Depreciation
At 1 April 2022 2,683 10,000 12,683
Charge for the year - 8,000 8,000
At 31 March 2023 2,683 18,000 20,683
Net book value
At 31 March 2023 - 22,000 22,000
At 31 March 2022 - 30,000 30,000
4 Debtors 2023 2022
£ £
Trade debtors 2,612 7,881
Other debtors 19,768 15,940
22,380 23,821
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,869 4,745
Obligations under finance lease and hire purchase contracts 4,902 4,423
Trade creditors 5,465 5,838
Corporation tax 11,146 3,815
Other creditors 8,008 2,568
34,390 21,389
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,942 19,811
Obligations under finance lease and hire purchase contracts 22,888 27,988
37,830 47,799
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
BT Hogg
The loan is interest free 4,239 33,290 (36,576) 953
TM Hogg
The loan is interest free 465 31,130 (36,575) (4,980)
4,704 64,420 (73,151) (4,027)
8 Other information
BTM Electrics Limited is a private company limited by shares and incorporated in England. Its registered office is:
102 Worple Road
Staines-upon-Thames
TW18 1EQ
BTM Electrics Limited 08448158 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 TM Hogg No description of principal activity 08448158 2021-04-01 2022-03-31 08448158 core:WithinOneYear 2022-03-31 08448158 core:AfterOneYear 2022-03-31 08448158 core:ShareCapital 2022-03-31 08448158 core:RetainedEarningsAccumulatedLosses 2022-03-31 08448158 2022-04-01 2023-03-31 08448158 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08448158 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08448158 bus:Director40 2022-04-01 2023-03-31 08448158 1 2022-04-01 2023-03-31 08448158 2 2022-04-01 2023-03-31 08448158 core:PlantMachinery 2022-04-01 2023-03-31 08448158 core:Vehicles 2022-04-01 2023-03-31 08448158 bus:Director1 2022-04-01 2023-03-31 08448158 bus:Director1 1 2022-04-01 2023-03-31 08448158 bus:Director2 2022-04-01 2023-03-31 08448158 bus:Director2 1 2022-04-01 2023-03-31 08448158 countries:England 2022-04-01 2023-03-31 08448158 bus:FRS102 2022-04-01 2023-03-31 08448158 bus:FullAccounts 2022-04-01 2023-03-31 08448158 2023-03-31 08448158 core:WithinOneYear 2023-03-31 08448158 core:AfterOneYear 2023-03-31 08448158 core:ShareCapital 2023-03-31 08448158 core:RetainedEarningsAccumulatedLosses 2023-03-31 08448158 core:PlantMachinery 2023-03-31 08448158 core:Vehicles 2023-03-31 08448158 bus:Director1 1 2023-03-31 08448158 bus:Director2 1 2023-03-31 08448158 2022-03-31 08448158 core:PlantMachinery 2022-03-31 08448158 core:Vehicles 2022-03-31 08448158 bus:Director1 1 2022-03-31 08448158 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure