2023-02-012024-01-312024-01-31false13864415Balne Logs 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Balne Logs Ltd

Registered Number
13864415
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Balne Logs Ltd
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

Lazenby, Harry Richard
Stocks, Samuel Edward
Wood, Matthew Stuart

Registered Address

18 Kellington Court
Eggborough
Goole
DN14 0UL

Registered Number

13864415 (England and Wales)
Balne Logs Ltd
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets345,8214,160
45,8214,160
Current assets
Stocks7,5009,853
Debtors14,0477,094
Cash at bank and on hand23,10712,121
44,65429,068
Creditors amounts falling due within one year5(47,767)(26,030)
Net current assets (liabilities)(3,113)3,038
Total assets less current liabilities42,7087,198
Creditors amounts falling due after one year(28,439)(1,624)
Provisions for liabilities(4,042)(790)
Net assets10,2274,784
Capital and reserves
Called up share capital33
Profit and loss account10,2244,781
Shareholders' funds10,2274,784
The financial statements were approved and authorised for issue by the Board of Directors on 29 February 2024, and are signed on its behalf by:
Stocks, Samuel Edward
Director
Registered Company No. 13864415
Balne Logs Ltd
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 235,200
Additions53,273
At 31 January 2458,473
Depreciation and impairment
At 01 February 231,040
Charge for year11,612
At 31 January 2412,652
Net book value
At 31 January 2445,821
At 31 January 234,160
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,240375
Other debtors11,8076,719
Total14,0477,094
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,6589,621
Finance lease and HP contracts12,5741,298
Other creditors30,78714,362
Accrued liabilities and deferred income748749
Total47,76726,030
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts28,4391,624
7.Related party transactions
At the balance sheet date, the company owed £30,787 (2022 - £14,362) to members of key management personnel. No interest has been charged to the company in respect of this loan which is repayable on demand and is presented within creditors due within one year.