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REGISTERED NUMBER: 01404492 (England and Wales)














BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED (REGISTERED NUMBER: 01404492)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: J H Foulds
P A Doswell
L J Foulds
M Tolley



SECRETARY: J H Foulds



REGISTERED OFFICE: Unit 12, Griffin Industrial Estate
Penncricket Lane
Rowley Regis
Warley
West Midlands
B65 0SN



REGISTERED NUMBER: 01404492 (England and Wales)



ACCOUNTANTS: BK Plus Limited
Chartered Certified Accountants
Churchfield House
36 Vicar Street
Dudley
West Midlands
DY2 8RG



BANKERS: National Westminster Bank plc
2 Hagley Road
Halesowen
West Midlands
B63 4RQ

BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED (REGISTERED NUMBER: 01404492)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 878,619 867,087

CURRENT ASSETS
Stocks 242,105 214,328
Debtors 5 646,049 863,838
Cash at bank and in hand 263,058 88,810
1,151,212 1,166,976
CREDITORS
Amounts falling due within one year 6 589,957 575,737
NET CURRENT ASSETS 561,255 591,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,439,874

1,458,326

CREDITORS
Amounts falling due after more than one
year

7

(173,800

)

(217,651

)

PROVISIONS FOR LIABILITIES (74,395 ) (64,605 )
NET ASSETS 1,191,679 1,176,070

CAPITAL AND RESERVES
Called up share capital 9 1,080 1,080
Capital redemption reserve 80 80
Share premium account 15,532 15,532
Retained earnings 1,174,987 1,159,378
SHAREHOLDERS' FUNDS 1,191,679 1,176,070

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

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

BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED (REGISTERED NUMBER: 01404492)

BALANCE SHEET - continued
31ST DECEMBER 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 30th April 2024 and were signed on its behalf by:





J H Foulds - Director


BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED (REGISTERED NUMBER: 01404492)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Birmingham Garage & Industrial Doors 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 (£).


The financial statements are rounded to the nearest £.

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 principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have been consistently applied within the same accounts.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

(i) Sale of goods/parts
Turnover from sales of parts and spares is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the company and the costs incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

(ii) Rendering of services
Turnover is recognised on completion of the service.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Tangible assets are stated at cost less depreciation and impairment.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, 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.


BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED (REGISTERED NUMBER: 01404492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 and creditors receivable / payable within 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 administrative expenses.

Cash at bank and in hand
All monies including funds held at call at banks and cash floats.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2022 - 60 ) .

BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED (REGISTERED NUMBER: 01404492)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 783,435 934,495 1,717,930
Additions - 108,823 108,823
Disposals - (15,295 ) (15,295 )
At 31st December 2023 783,435 1,028,023 1,811,458
DEPRECIATION
At 1st January 2023 186,727 664,116 850,843
Charge for year 15,669 76,783 92,452
Eliminated on disposal - (10,456 ) (10,456 )
At 31st December 2023 202,396 730,443 932,839
NET BOOK VALUE
At 31st December 2023 581,039 297,580 878,619
At 31st December 2022 596,708 270,379 867,087

The net book value of tangible fixed assets includes £ 103,412 (2022 - £ 120,293 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 620,326 834,520
Other debtors 25,723 29,318
646,049 863,838

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 34,693 40,848
Hire purchase contracts 49,994 52,154
Trade creditors 399,429 398,467
Taxation and social security 64,058 37,810
Other creditors 41,783 46,458
589,957 575,737

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 160,080 188,237
Hire purchase contracts 13,720 29,414
173,800 217,651

BIRMINGHAM GARAGE & INDUSTRIAL DOORS
LIMITED (REGISTERED NUMBER: 01404492)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 21,309 13,089

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 194,773 229,085
Hire purchase contracts 63,714 81,568
258,487 310,653

The bank loan is secured by fixed charges over the property of the company and by debentures over the assets of the company.

Hire purchase contracts are secured over specific fixed assets as detailed in note 4 to the financial statements.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,080 Ordinary £1 1,080 1,080