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Registered number: 12455037
BINGLEY FENCING AND BUILDING SUPPLIES LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
QUALITY BUSINESS SERVICES (YORKSHIRE) LIMITED
Association of Accounting Technicians
20 HIGH STREET
QUEENSBURY
BRADFORD
WEST YORKSHIRE
BD13 2PA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12455037
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 40,773 40,426
40,773 40,426
CURRENT ASSETS
Stocks 4 136,514 169,503
Debtors 5 19,859 14,909
Cash at bank and in hand 70,423 32,850
226,796 217,262
Creditors: Amounts Falling Due Within One Year 6 (86,522 ) (97,269 )
NET CURRENT ASSETS (LIABILITIES) 140,274 119,993
TOTAL ASSETS LESS CURRENT LIABILITIES 181,047 160,419
Creditors: Amounts Falling Due After More Than One Year 7 (272,976 ) (320,976 )
NET LIABILITIES (91,929 ) (160,557 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (92,029 ) (160,657 )
SHAREHOLDERS' FUNDS (91,929) (160,557)
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For the year ending 31 March 2024 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 ROBERT SIMMONITE
Director
Mr ADRIAN WATSON
Director
30 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
Computer Equipment 25% reducing balance
1.4. 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.
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2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
31 March 2024 31 March 2023
Office and administration 3 3
Manufacturing 7 7
10 10
3. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 20,255 16,458 19,984 4,787 61,484
Additions 702 9,000 - 933 10,635
As at 31 March 2024 20,957 25,458 19,984 5,720 72,119
Depreciation
As at 1 April 2023 8,618 7,115 3,459 1,866 21,058
Provided during the period 3,085 4,586 1,653 964 10,288
As at 31 March 2024 11,703 11,701 5,112 2,830 31,346
Net Book Value
As at 31 March 2024 9,254 13,757 14,872 2,890 40,773
As at 1 April 2023 11,637 9,343 16,525 2,921 40,426
4. Stocks
31 March 2024 31 March 2023
£ £
Stock 136,514 169,503
5. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 12,942 8,228
Prepayments and accrued income 6,817 6,581
Directors' loan accounts 100 100
19,859 14,909
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6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 62,840 79,526
Other taxes and social security 3,842 3,889
VAT 17,494 9,530
Accrued expenses 2,346 4,324
86,522 97,269
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Amount owed to related company 272,976 320,976
272,976 320,976
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
9. Ultimate Controlling Party
The company's ultimate controlling parties are the Directors by virtue of their ownership of 100% of the issued share capital in the company.
10. General Information
Bingley Fencing and Building Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12455037 . The registered office is 61a Planetrees Road, Laisterdyke, Bradford, West Yorkshire, BD4 8AE.
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