Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 01853665 Mrs P Rose M D Rose Mr M J Shardlow Mr D Rose Mrs P Rose iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01853665 2022-12-31 01853665 2023-12-31 01853665 2023-01-01 2023-12-31 01853665 frs-core:CurrentFinancialInstruments 2023-12-31 01853665 frs-core:Non-currentFinancialInstruments 2023-12-31 01853665 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 01853665 frs-core:FurnitureFittings 2023-12-31 01853665 frs-core:FurnitureFittings 2023-01-01 2023-12-31 01853665 frs-core:FurnitureFittings 2022-12-31 01853665 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 01853665 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01853665 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 01853665 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 01853665 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01853665 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 01853665 frs-core:MotorVehicles 2023-12-31 01853665 frs-core:MotorVehicles 2023-01-01 2023-12-31 01853665 frs-core:MotorVehicles 2022-12-31 01853665 frs-core:OtherResidualIntangibleAssets 2023-12-31 01853665 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 01853665 frs-core:OtherResidualIntangibleAssets 2022-12-31 01853665 frs-core:RevaluationReserve 2022-12-31 01853665 frs-core:RevaluationReserve 2023-12-31 01853665 frs-core:ShareCapital 2023-12-31 01853665 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01853665 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01853665 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 01853665 frs-bus:SmallEntities 2023-01-01 2023-12-31 01853665 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01853665 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01853665 frs-core:ListedExchangeTraded 2023-12-31 01853665 frs-core:ListedExchangeTraded 2022-12-31 01853665 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-12-31 01853665 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 01853665 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 01853665 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 01853665 frs-bus:Director1 2023-01-01 2023-12-31 01853665 frs-bus:Director2 2023-01-01 2023-12-31 01853665 frs-bus:Director3 2023-01-01 2023-12-31 01853665 frs-bus:Director4 2023-01-01 2023-12-31 01853665 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 01853665 frs-countries:EnglandWales 2023-01-01 2023-12-31 01853665 2021-12-31 01853665 2022-12-31 01853665 2022-01-01 2022-12-31 01853665 frs-core:CurrentFinancialInstruments 2022-12-31 01853665 frs-core:Non-currentFinancialInstruments 2022-12-31 01853665 frs-core:RevaluationReserve 2022-12-31 01853665 frs-core:ShareCapital 2022-12-31 01853665 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 01853665
Bearing Transmission & Pneumatics Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01853665
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,657 -
Tangible Assets 5 1,220,783 1,166,526
Investments 6 2 2
1,235,442 1,166,528
CURRENT ASSETS
Stocks 7 175,355 186,491
Debtors 8 1,725,013 1,457,330
Cash at bank and in hand 1,439,909 1,594,786
3,340,277 3,238,607
Creditors: Amounts Falling Due Within One Year 9 (1,157,644 ) (1,138,735 )
NET CURRENT ASSETS (LIABILITIES) 2,182,633 2,099,872
TOTAL ASSETS LESS CURRENT LIABILITIES 3,418,075 3,266,400
Creditors: Amounts Falling Due After More Than One Year 10 (4,352 ) (6,393 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (33,413 ) (53,044 )
NET ASSETS 3,380,310 3,206,963
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 13 181,004 181,004
Profit and Loss Account 3,199,206 3,025,859
SHAREHOLDERS' FUNDS 3,380,310 3,206,963
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D Rose
Director
29 July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bearing Transmission & Pneumatics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01853665 . The registered office is 8 Siddals Road, Derby, DE1 2PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2.5% straight line
Leasehold 2% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 10% and 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2022: 31)
30 31
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 -
Additions 21,985
As at 31 December 2023 21,985
Amortisation
As at 1 January 2023 -
Provided during the period 7,328
As at 31 December 2023 7,328
Net Book Value
As at 31 December 2023 14,657
As at 1 January 2023 -
Page 4
Page 5
5. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 800,000 58,589 663,810 237,511 1,759,910
Additions - - 223,796 30,774 254,570
Disposals - - (101,009 ) - (101,009 )
As at 31 December 2023 800,000 58,589 786,597 268,285 1,913,471
Depreciation
As at 1 January 2023 - 3,580 394,872 194,932 593,384
Provided during the period - 1,171 180,260 17,882 199,313
Disposals - - (100,009 ) - (100,009 )
As at 31 December 2023 - 4,751 475,123 212,814 692,688
Net Book Value
As at 31 December 2023 800,000 53,838 311,474 55,471 1,220,783
As at 1 January 2023 800,000 55,009 268,938 42,579 1,166,526
6. Investments
Listed
£
Cost
As at 1 January 2023 2
As at 31 December 2023 2
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 2
As at 1 January 2023 2
7. Stocks
2023 2022
£ £
Stock 175,355 186,491
Page 5
Page 6
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,666,915 1,388,987
Prepayments and accrued income 56,561 62,005
Other debtors 1,537 6,338
1,725,013 1,457,330
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 939,792 908,683
Corporation tax 37,850 69,100
Other taxes and social security 33,337 34,439
VAT 97,967 82,783
Other creditors 15,158 5,581
Accruals and deferred income 33,540 38,149
1,157,644 1,138,735
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Accruals and deferred income 4,352 6,393
4,352 6,393
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
12. Capital Commitments
2023 2022
£ £
At the end of the period 142,299 175,199
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
13. Reserves
Revaluation Reserve
£
As at 1 January 2023 181,004
As at 31 December 2023 181,004
Page 6