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REGISTERED NUMBER: 01508276 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

BEDFORD TRANSMISSIONS LIMITED

BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BEDFORD TRANSMISSIONS LIMITED

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: Mr A G Moodie
Mr J P Bedford
Mr A Millar
Mr K Millar





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 01508276 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)

ABRIDGED BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 387,505 -
Tangible assets 5 441,661 483,506
Investments 6 100 408,000
829,266 891,506

CURRENT ASSETS
Stocks 84,090 75,480
Debtors 587,270 390,199
Cash at bank 20,851 24,920
692,211 490,599
CREDITORS
Amounts falling due within one year 817,943 549,585
NET CURRENT LIABILITIES (125,732 ) (58,986 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

703,534

832,520

CREDITORS
Amounts falling due after more than one year 274,430 362,958
NET ASSETS 429,104 469,562

BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)

ABRIDGED BALANCE SHEET - continued
31 July 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 517 517
Share premium 412,371 412,371
Capital redemption reserve 133 133
Retained earnings 16,083 56,541
SHAREHOLDERS' FUNDS 429,104 469,562

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

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

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 March 2024 and were signed on its behalf by:





Mr J P Bedford - Director


BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Bedford Transmissions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Preparation of consolidated financial statements
The financial statements contain information about Bedford Transmissions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - over the period of the leases
Improvements to property - Straight line over 10 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 12.5% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Reclassification/transfer 407,900
At 31 July 2023 407,900
AMORTISATION
Amortisation for year 20,395
At 31 July 2023 20,395
NET BOOK VALUE

At 31 July 2023 387,505

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 2,013,824
Additions 35,898
At 31 July 2023 2,049,722
DEPRECIATION
At 1 August 2022 1,530,318
Charge for year 77,743
At 31 July 2023 1,608,061
NET BOOK VALUE
At 31 July 2023 441,661
At 31 July 2022 483,506

BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 August 2022 532,667
Additions 23,677
At 31 July 2023 556,344
DEPRECIATION
At 1 August 2022 330,730
Charge for year 31,772
At 31 July 2023 362,502
NET BOOK VALUE
At 31 July 2023 193,842
At 31 July 2022 201,937

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 August 2022 408,000
Reclassification/transfer (407,900 )
At 31 July 2023 100
NET BOOK VALUE
At 31 July 2023 100
At 31 July 2022 408,000

BEDFORD TRANSMISSIONS LIMITED (REGISTERED NUMBER: 01508276)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 214,880 262,024
Invoice factoring 177,580 -
392,460 262,024

The hire purchase creditors are secured over the assets to which they relate.

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £17,434 (2022: £22,352) to the directors.