Registered number
06350861
Birmingham Safety Wear Limited
Filleted Accounts
31 March 2023
Birmingham Safety Wear Limited
Registered number: 06350861
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 23,584 28,261
Current assets
Stocks 58,525 58,950
Debtors 5 160,530 139,796
Cash at bank and in hand 10,423 9,443
229,478 208,189
Creditors: amounts falling due within one year 6 (205,772) (187,382)
Net current assets 23,706 20,807
Total assets less current liabilities 47,290 49,068
Creditors: amounts falling due after more than one year 7 (39,883) (45,031)
Provisions for liabilities (3,281) (3,281)
Net assets 4,126 756
Capital and reserves
Called up share capital 200 200
Profit and loss account 3,926 556
Shareholders' funds 4,126 756
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.
M Hussain
Director
Approved by the board on 2 November 2023
Birmingham Safety Wear 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.
I
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:
Plant and machinery 15 % Reducing balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Going Concern

"TheDirectors have considered the company's business activities, together with the factors likely to affect its future development,performance and position of the company in the market

The directors have considered the company's financial resources together with its customer base and supply chain. They have also considered the possibility of obtaining Government gurantee loans to ease any short to meditium term cash flow situation..

As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements"
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 13
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 46,636
At 31 March 2023 46,636
Depreciation
At 1 April 2022 18,375
Charge for the year 4,677
At 31 March 2023 23,052
Net book value
At 31 March 2023 23,584
At 31 March 2022 28,261
5 Debtors 2023 2022
£ £
Trade debtors 151,881 122,318
Other debtors 8,649 17,478
160,530 139,796
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 26,893
Trade creditors 105,317 92,789
Taxation and social security costs 79,749 53,997
Other creditors 20,706 13,703
205,772 187,382
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 39,883 45,031
8 Other information
Birmingham Safety Wear Limited is a private company limited by shares and incorporated in England. Its registered office is:
23 Bickford Road
Birmingham
B6 7EE
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