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Registration number: 04945686

Birchwood Gas Services Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2023

 

Birchwood Gas Services Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Birchwood Gas Services Limited

Company Information

Directors

J L Hopkins

J A Hopkins

Company secretary

C Hopkins

Registered office

Lovell House
Birchwood Park
Warrington
Cheshire
WA3 6FW

Accountants

Arcadian Accounting & Consultancy Limited
15 Colstone Close
Wilmslow
Cheshire
SK9 2TF

 

Birchwood Gas Services Limited

(Registration number: 04945686)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

101,031

135,308

Current assets

 

Stocks

5

2,229,730

969,822

Debtors

6

549,305

402,352

Cash at bank and in hand

 

79

32,020

 

2,779,114

1,404,194

Prepayments and accrued income

 

695,038

224,564

Creditors: Amounts falling due within one year

(1,036,797)

(487,320)

Net current assets

 

2,437,355

1,141,438

Total assets less current liabilities

 

2,538,386

1,276,746

Creditors: Amounts falling due after more than one year

(233,326)

(137,255)

Provisions for liabilities

(5,037)

(5,037)

Accruals and deferred income

 

(1,858,701)

(706,793)

Net assets

 

441,322

427,661

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

441,222

427,561

Shareholders' funds

 

441,322

427,661

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Birchwood Gas Services Limited

(Registration number: 04945686)
Abridged Balance Sheet as at 30 November 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

.........................................
J A Hopkins
Director

 

Birchwood Gas Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lovell House
Birchwood Park
Warrington
Cheshire
WA3 6FW

The principal place of business is:
101 Lovell House
Birchwood Business Park
Birchwood
Warrington
WA3 6FW

These financial statements were authorised for issue by the Board on 27 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Birchwood Gas Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% straight line

Van on finance lease

Over 5,4 & 3 years

Motor car

Over 4 years

Fixtures & Fittings

15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Birchwood Gas Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Birchwood Gas Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 41 (2022 - 29).

 

Birchwood Gas Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

8,564

115,141

15,914

61,391

201,010

Additions

4,063

-

1,651

-

5,714

At 30 November 2023

12,627

115,141

17,565

61,391

206,724

Depreciation

At 1 December 2022

4,441

31,930

8,365

20,966

65,702

Charge for the year

1,877

21,943

2,321

13,850

39,991

At 30 November 2023

6,318

53,873

10,686

34,816

105,693

Carrying amount

At 30 November 2023

6,309

61,268

6,879

26,575

101,031

At 30 November 2022

4,123

83,211

7,549

40,425

135,308

5

Stocks

2023
£

2022
£

Work in progress

2,205,730

917,128

Other inventories

24,000

52,694

2,229,730

969,822

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Birchwood Gas Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

8

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £420.00 (2022 - £220.00) per each Ordinary shares

42,000

22,000

 

 

Interim dividends paid

2023
£

2022
£

Interim dividend of £420 (2022 - £220) per each Ordinary shares

42,000

22,000

 

 

9

Related party transactions

 

Birchwood Gas Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

75,564

55,832

In respect of the highest paid director:

2023
£

2022
£

Remuneration

67,500

47,083