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Registration number: 02356068

BAPP Industrial Supplies (Doncaster) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

BAPP Industrial Supplies (Doncaster) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

BAPP Industrial Supplies (Doncaster) Limited

Company Information

Chairman

Mr Dean Garth Cook

Director

Mr Ben Adam Platts

Registered office

Chappel Drive
Dockin Hill
Doncaster
South Yorkshire
DN1 2RW

Accountants

Thorntons
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

BAPP Industrial Supplies (Doncaster) Limited

(Registration number: 02356068)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

79,154

73,396

Current assets

 

Stocks

5

117,828

117,474

Debtors

6

575,469

745,622

Cash at bank and in hand

 

682,311

878,796

 

1,375,608

1,741,892

Creditors: Amounts falling due within one year

7

(659,643)

(1,098,930)

Net current assets

 

715,965

642,962

Net assets

 

795,119

716,358

Capital and reserves

 

Called up share capital

8

60,000

60,000

Retained earnings

735,119

656,358

Shareholders' funds

 

795,119

716,358

For the financial year ending 30 June 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 22 December 2023
 

.........................................
Mr Dean Garth Cook
Chairman

 

BAPP Industrial Supplies (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Chappel Drive
Dockin Hill
Doncaster
South Yorkshire
DN1 2RW

These financial statements were authorised for issue by the director on 22 December 2023.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

BAPP Industrial Supplies (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Fixtures and fittings

25% straight line basis

Motor vehicles

25% straight line basis

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.

 

BAPP Industrial Supplies (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2022 - 11).

 

BAPP Industrial Supplies (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

79,578

160,350

239,928

Additions

-

54,402

54,402

Disposals

(27,984)

-

(27,984)

At 30 June 2023

51,594

214,752

266,346

Depreciation

At 1 July 2022

75,807

90,725

166,532

Charge for the year

2,170

46,474

48,644

Eliminated on disposal

(27,984)

-

(27,984)

At 30 June 2023

49,993

137,199

187,192

Carrying amount

At 30 June 2023

1,601

77,553

79,154

At 30 June 2022

3,771

69,625

73,396

5

Stocks

2023
£

2022
£

Raw materials and consumables

117,474

117,474

Other inventories

354

-

117,828

117,474

6

Debtors

2023
£

2022
£

Trade debtors

388,095

559,472

Other debtors

180,000

180,000

Prepayments

7,374

6,150

575,469

745,622

7

Creditors

Creditors: amounts falling due within one year

 

BAPP Industrial Supplies (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

163,419

417,818

Trade creditors

 

335,081

433,267

Taxation and social security

 

53,322

27,938

Accruals and deferred income

 

104,968

216,653

Other creditors

 

2,853

3,254

 

659,643

1,098,930

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

60,000

60,000

60,000

60,000

         

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

163,419

417,818

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

During the ordinary course of business the company bought goods and services from related parties and also sold to them. The aggregate of these transactions was as follows;
 

Income and receivables from related parties

2023

Entities with joint control or significant influence
£

Sale of goods

11,684

 

BAPP Industrial Supplies (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2022

Entities with joint control or significant influence
£

Sale of goods

7,308

Expenditure with and payables to related parties

2023

Entities with joint control or significant influence
£

Purchase of goods

1,143,236

Rendering of services

319,184

1,462,420

2022

Entities with joint control or significant influence
£

Purchase of goods

1,196,123

Rendering of services

442,884

1,639,007