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REGISTERED NUMBER: 04120891 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

BBE Precision Limited

BBE Precision Limited (Registered number: 04120891)






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




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


BBE Precision Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J Watson





REGISTERED OFFICE: Unit 5
Moorland Way
Lincoln
Lincolnshire
LN6 7JW





REGISTERED NUMBER: 04120891 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Accountants' Report to the Director
on the Unaudited Financial Statements of
BBE Precision Limited (Registered number: 04120891)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BBE Precision Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of BBE Precision Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BBE Precision Limited and state those matters that we have agreed to state to the director of BBE Precision Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BBE Precision Limited and its director for our work or for this report.

It is your duty to ensure that BBE Precision Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BBE Precision Limited. You consider that BBE Precision 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 financial statements of BBE Precision 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 financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


12 April 2024

BBE Precision Limited (Registered number: 04120891)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 194,695 186,406

CURRENT ASSETS
Stocks 2,000 2,500
Debtors 5 48,184 26,603
Cash at bank 11,454 3,351
61,638 32,454
CREDITORS
Amounts falling due within one year 6 29,070 27,803
NET CURRENT ASSETS 32,568 4,651
TOTAL ASSETS LESS CURRENT LIABILITIES 227,263 191,057

CREDITORS
Amounts falling due after more than one year 7 (8,803 ) (13,184 )

PROVISIONS FOR LIABILITIES (20,493 ) (20,693 )
NET ASSETS 197,967 157,180

CAPITAL AND RESERVES
Called up share capital 9 500 500
Revaluation reserve 120,051 110,051
Capital redemption reserve 500 500
Retained earnings 76,916 46,129
SHAREHOLDERS' FUNDS 197,967 157,180

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 April 2024 and were signed by:



J Watson - Director


BBE Precision Limited (Registered number: 04120891)

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

1. STATUTORY INFORMATION

BBE Precision 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents work invoiced during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% 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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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 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.

Freehold property
Freehold properties are recognised in the accounts on the revaluation method. The fair value of the property is reviewed annually by the directors of the company with any changes in value being shown through the revaluation reserve.

BBE Precision Limited (Registered number: 04120891)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 175,000 139,864 314,864
Revaluations 10,000 - 10,000
At 31 December 2023 185,000 139,864 324,864
DEPRECIATION
At 1 January 2023 - 128,458 128,458
Charge for year - 1,711 1,711
At 31 December 2023 - 130,169 130,169
NET BOOK VALUE
At 31 December 2023 185,000 9,695 194,695
At 31 December 2022 175,000 11,406 186,406

Cost or valuation at 31 December 2023 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 2008 70,000 - 70,000
Valuation in 2018 4,267 - 4,267
Valuation in 2020 40,000 - 40,000
Valuation in 2021 10,000 - 10,000
Valuation in 2022 5,000 - 5,000
Valuation in 2023 10,000 - 10,000
Cost 45,733 139,864 185,597
185,000 139,864 324,864

If freehold property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 45,733 45,733

Freehold property was valued on an open market basis on 31 December 2022 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,993 25,978
Other debtors 34,191 625
48,184 26,603

BBE Precision Limited (Registered number: 04120891)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,302 7,737
Trade creditors 2,754 1,284
Taxation and social security 18,853 16,282
Other creditors 3,161 2,500
29,070 27,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,803 13,184

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 13,105 20,921

Bank loans are secured via a debenture and legal charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
500 Ordinary £1 500 500

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J Watson
Balance outstanding at start of year 625 (956 )
Amounts advanced 45,604 44,892
Amounts repaid (12,805 ) (43,311 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,424 625