REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2023 |
FOR |
BTS TIMBER ENGINEERING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2023 |
FOR |
BTS TIMBER ENGINEERING LIMITED |
BTS TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 04321522) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BTS TIMBER ENGINEERING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST AUGUST 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Westgate House |
87 St Dunstans Street |
Canterbury |
Kent |
CT2 8AE |
BTS TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 04321522) |
BALANCE SHEET |
31ST AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
BTS TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 04321522) |
BALANCE SHEET - continued |
31ST AUGUST 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BTS TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 04321522) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2023 |
1. | STATUTORY INFORMATION |
BTS Timber Engineering Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company is timber building consulting engineers. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
When the outcome of a transaction can be estimated reliably, turnover from consultancy services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to time apportionment. |
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
Tangible fixed assets |
Office Equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation. Cost includes costs |
directly attributable to making the asset capable of operating as intended. |
Work in progress |
Short term work in progress is valued at the lower of cost and net realisable value, together with anticipated profit on work done having regard to the stage of completion at the year end. |
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. |
BTS TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 04321522) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Debtors/creditors receivable/payable in one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Office |
property | Equipment | Totals |
£ | £ | £ |
COST |
At 1st September 2022 |
Additions |
At 31st August 2023 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Work-in-progress |
BTS TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 04321522) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Corporation tax |
VAT | 9,596 | 9,060 |
Other creditors |
Directors' current accounts | 390 | 4,542 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A Shares | 1 | 100 | 100 |
Ordinary B Shares | 1 | 1 | 1 |
101 | 101 |
9. | POST BALANCE SHEET EVENTS/GOING CONCERN |
The company expects to have adequate resources available to meet its obligations for at least the next twelve months and therefore the directors consider it appropriate to prepare the financial statements on the going concern basis. |