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REGISTERED NUMBER: 01609877 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Bearing & Engineering Services Limited

Bearing & Engineering Services Limited (Registered number: 01609877)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bearing & Engineering Services Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mrs A Bond
K W Jennison





SECRETARY: Mrs A Bond





REGISTERED OFFICE: Adelphi Chambers
30 Hoghton Street
Southport
Merseyside
PR9 0NZ





REGISTERED NUMBER: 01609877 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Adelphi Chambers
30 Hoghton Street
Southport
Merseyside
PR9 0NZ

Bearing & Engineering Services Limited (Registered number: 01609877)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 3,131 3,683

CURRENT ASSETS
Stocks 223,858 233,956
Debtors 5 378,791 362,134
Cash at bank and in hand 62,702 30,931
665,351 627,021
CREDITORS
Amounts falling due within one year 6 (372,468 ) (369,816 )
NET CURRENT ASSETS 292,883 257,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,014

260,888

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Share premium 14,696 14,696
Retained earnings 280,318 245,192
SHAREHOLDERS' FUNDS 296,014 260,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mrs A Bond - Director


Bearing & Engineering Services Limited (Registered number: 01609877)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Bearing & Engineering Services 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 (£).


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.

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.
Fixtures and fittings - 15% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2023
and 31 March 2024 22,689
DEPRECIATION
At 1 April 2023 19,006
Charge for year 552
At 31 March 2024 19,558
NET BOOK VALUE
At 31 March 2024 3,131
At 31 March 2023 3,683

Bearing & Engineering Services Limited (Registered number: 01609877)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 345,137 327,482
Other debtors 33,654 34,652
378,791 362,134

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 318,167 310,600
Taxation and social security 36,402 36,320
Other creditors 17,899 22,896
372,468 369,816

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary £1 1,000 1,000

8. ULTIMATE CONTROLLING PARTY

The company is controlled by Mrs A Bond (Director) by virtue of her majority shareholding.