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REGISTERED NUMBER: 03574473 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

B B A K CONTROL PANELS LIMITED

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B B A K CONTROL PANELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: C D Bond
S L Bond





SECRETARY: S L Bond





REGISTERED OFFICE: 3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW





REGISTERED NUMBER: 03574473 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 123,419 30,437

CURRENT ASSETS
Stocks 60,000 120,000
Debtors 5 210,827 279,705
Cash at bank and in hand 17,826 252
288,653 399,957
CREDITORS
Amounts falling due within one year 6 333,082 411,893
NET CURRENT LIABILITIES (44,429 ) (11,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,990

18,501

CREDITORS
Amounts falling due after more than one
year

7

(18,974

)

(37,054

)

PROVISIONS FOR LIABILITIES 9 (30,855 ) (7,609 )
NET ASSETS/(LIABILITIES) 29,161 (26,162 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 28,161 (27,162 )
29,161 (26,162 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

BALANCE SHEET - continued
31 OCTOBER 2023


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

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 15 April 2024 and were signed on its behalf by:





C D Bond - Director


B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

B B A K Control Panels 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.

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 a going concern basis by the directors. C D Bond, director, has given his financial support by way of a director's loan which will not be repaid until such time as the company has sufficient available funds to do so.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 30% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

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

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.

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Pension costs
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 43,306 4,167 7,500 54,973
Additions 7,438 - 96,935 104,373
Disposals - - (7,500 ) (7,500 )
At 31 October 2023 50,744 4,167 96,935 151,846
DEPRECIATION
At 1 November 2022 15,285 2,688 6,563 24,536
Charge for year 2,537 192 7,725 10,454
Eliminated on disposal - - (6,563 ) (6,563 )
At 31 October 2023 17,822 2,880 7,725 28,427
NET BOOK VALUE
At 31 October 2023 32,922 1,287 89,210 123,419
At 31 October 2022 28,021 1,479 937 30,437

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 187,087 246,666
Other debtors 14,125 10,000
Directors' current accounts - 9,666
VAT 8,261 10,694
Prepayments and accrued income 1,354 2,679
210,827 279,705

Included within 'Other debtors' is a rent deposit of £10,000 (2022 : £10,000) due for repayment in more than one year from the balance sheet date.

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,919 31,309
Trade creditors 164,790 151,860
Tax 3,761 4,558
Social security and other taxes 23,116 20,132
Bank factoring advance 94,352 190,659
Loan 3,600 3,600
Credit card 1,640 733
Directors' current accounts 26,846 -
Accruals and deferred income 7,058 9,042
333,082 411,893

Included within 'Other creditors' is an amount of £94,352 (2022 : £190,659) due in respect of a bank factoring loan. This loan is secured by way of a legal assignment incorporating a fixed charge on non-vesting debts and a floating charge over the assets and undertakings of the company.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 7,969 7,969
Bank loans - 2-5 years 5,405 13,285
Loan 5,600 15,800
18,974 37,054

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 860 860
Between one and five years 430 1,290
1,290 2,150

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 30,855 7,609

Deferred
tax
£   
Balance at 1 November 2022 7,609
Capital Allowances in excess
of Depreciation 23,246
Balance at 31 October 2023 30,855

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. RELATED PARTY DISCLOSURES

The Company is controlled by Mr and Mrs C W Bond who together with members of their close family own all the Company's issued share capital.

At the year end the company owed £26,846 to C D Bond, director (2022 £9,622 owed from C D Bond). No interest has been charged on the loan during the year (2022 £Nil) and there are no set repayment terms in place.