Bodan Workshops Limited 09061029 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is Other business support service Digita Accounts Production Advanced 6.30.9574.0 true 09061029 2022-06-01 2023-05-31 09061029 2023-05-31 09061029 core:FinanceLeases core:CurrentFinancialInstruments 2023-05-31 09061029 core:FinanceLeases core:Non-currentFinancialInstruments 2023-05-31 09061029 core:CurrentFinancialInstruments 2023-05-31 09061029 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09061029 core:Non-currentFinancialInstruments 2023-05-31 09061029 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 09061029 core:FurnitureFittingsToolsEquipment 2023-05-31 09061029 core:MotorVehicles 2023-05-31 09061029 core:OtherPropertyPlantEquipment 2023-05-31 09061029 bus:SmallEntities 2022-06-01 2023-05-31 09061029 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09061029 bus:FullAccounts 2022-06-01 2023-05-31 09061029 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 09061029 bus:RegisteredOffice 2022-06-01 2023-05-31 09061029 bus:CompanySecretary1 2022-06-01 2023-05-31 09061029 bus:Director1 2022-06-01 2023-05-31 09061029 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09061029 bus:Agent1 2022-06-01 2023-05-31 09061029 core:Buildings 2022-06-01 2023-05-31 09061029 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 09061029 core:MotorVehicles 2022-06-01 2023-05-31 09061029 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 09061029 countries:UnitedKingdom 2022-06-01 2023-05-31 09061029 2022-05-31 09061029 core:FurnitureFittingsToolsEquipment 2022-05-31 09061029 core:MotorVehicles 2022-05-31 09061029 core:OtherPropertyPlantEquipment 2022-05-31 09061029 2021-06-01 2022-05-31 09061029 2022-05-31 09061029 core:FinanceLeases core:CurrentFinancialInstruments 2022-05-31 09061029 core:FinanceLeases core:Non-currentFinancialInstruments 2022-05-31 09061029 core:CurrentFinancialInstruments 2022-05-31 09061029 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 09061029 core:Non-currentFinancialInstruments 2022-05-31 09061029 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 09061029 core:FurnitureFittingsToolsEquipment 2022-05-31 09061029 core:MotorVehicles 2022-05-31 09061029 core:OtherPropertyPlantEquipment 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 09061029

Bodan Workshops Limited

Annual Report and Unaudited Financial Statements Year Ended 31 May 2023

image-name

Chartered Accountants

 

Bodan Workshops Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Bodan Workshops Limited

Company Information

Director

Mr O Debenham

Company secretary

Miss H H Jurkowska

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bodan Workshops Limitedfor the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bodan Workshops Limited for the year ended 31 May 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Bodan Workshops Limited, as a body, in accordance with the terms of our engagement letter dated 31 January 2020. Our work has been undertaken solely to prepare for your approval the accounts of Bodan Workshops Limited and state those matters that we have agreed to state to the Board of Directors of Bodan Workshops Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bodan Workshops Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bodan Workshops Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bodan Workshops Limited. You consider that Bodan Workshops Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bodan Workshops Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

21 February 2024

 

Bodan Workshops Limited

(Registration number: 09061029)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

197,910

 

204,742

Current assets

   

 

Stocks

56,883

 

76,468

 

Debtors

5

57,358

 

70,598

 

Cash at bank and in hand

 

5,899

 

335

 

 

120,140

 

147,401

 

Creditors: Amounts falling due within one year

6

(104,779)

 

(118,516)

 

Net current assets

   

15,361

 

28,885

Total assets less current liabilities

   

213,271

 

233,627

Creditors: Amounts falling due after more than one year

6

 

(129,664)

 

(182,478)

Net assets

   

83,607

 

51,149

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

83,507

 

51,049

 

Shareholders' funds

   

83,607

 

51,149

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 February 2024
 



Mr O Debenham
Director

 

Bodan Workshops Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Bodan Workshops Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Demountable partitions

5 years from 1.8.15 with residual value of £60,000

Factory fixtures and fittings

20% reducing balance with residual value of £126,509

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bodan Workshops Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Bodan Workshops Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2023

4

Tangible assets

Plant and equipment, factory fixtures and fittings
 £

Motor vehicles
 £

Demountable partitions
£

Total
£

Cost or valuation

At 1 June 2022

295,255

599

102,162

398,016

Additions

3,931

-

-

3,931

At 31 May 2023

299,186

599

102,162

401,947

Depreciation

At 1 June 2022

150,513

599

42,162

193,274

Charge for the year

10,763

-

-

10,763

At 31 May 2023

161,276

599

42,162

204,037

Carrying amount

At 31 May 2023

137,910

-

60,000

197,910

At 31 May 2022

144,742

-

60,000

204,742

Revaluation

At 31 May 2020, the director valued fixed assets at a total of £157,580. This is made up of £97,580 plant and equipment, factory fixtures and fittings and £60,000 demountable partitions.

 

Bodan Workshops Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

4,694

16,520

Prepayments

45,654

46,740

Other debtors

7,010

7,338

 

57,358

70,598

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

67,182

62,888

Trade creditors

 

22,211

48,097

Taxation and social security

 

8,454

1,248

Accruals and deferred income

 

2,600

2,000

Other creditors

 

4,332

4,283

 

104,779

118,516

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

129,664

182,478

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

20,771

31,273

Finance lease liabilities

35,288

49,349

Other borrowings

73,605

101,856

129,664

182,478

2023
£

2022
£

Current loans and borrowings

Bank borrowings

16,453

14,994

Bank overdrafts

36,668

36,279

Finance lease liabilities

14,061

11,615

67,182

62,888