Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseManufacture of other special-purpose machinery not elsewhere classified1920truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02544736 2023-01-01 2023-12-31 02544736 2022-01-01 2022-12-31 02544736 2023-12-31 02544736 2022-12-31 02544736 2022-01-01 02544736 2 2023-01-01 2023-12-31 02544736 2 2022-01-01 2022-12-31 02544736 3 2023-01-01 2023-12-31 02544736 3 2022-01-01 2022-12-31 02544736 d:Director3 2023-01-01 2023-12-31 02544736 e:PlantMachinery 2023-01-01 2023-12-31 02544736 e:PlantMachinery 2023-12-31 02544736 e:PlantMachinery 2022-12-31 02544736 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02544736 e:CurrentFinancialInstruments 2023-12-31 02544736 e:CurrentFinancialInstruments 2022-12-31 02544736 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 02544736 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 02544736 e:UKTax 2023-01-01 2023-12-31 02544736 e:UKTax 2022-01-01 2022-12-31 02544736 e:ShareCapital 2023-01-01 2023-12-31 02544736 e:ShareCapital 2023-12-31 02544736 e:ShareCapital 2022-01-01 2022-12-31 02544736 e:ShareCapital 2022-12-31 02544736 e:ShareCapital 2022-01-01 02544736 e:CapitalRedemptionReserve 2023-01-01 2023-12-31 02544736 e:CapitalRedemptionReserve 2023-12-31 02544736 e:CapitalRedemptionReserve 2 2023-01-01 2023-12-31 02544736 e:CapitalRedemptionReserve 3 2023-01-01 2023-12-31 02544736 e:CapitalRedemptionReserve 2022-01-01 2022-12-31 02544736 e:CapitalRedemptionReserve 2022-12-31 02544736 e:CapitalRedemptionReserve 2022-01-01 02544736 e:CapitalRedemptionReserve 2 2022-01-01 2022-12-31 02544736 e:CapitalRedemptionReserve 3 2022-01-01 2022-12-31 02544736 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 02544736 e:RetainedEarningsAccumulatedLosses 2023-12-31 02544736 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 02544736 e:RetainedEarningsAccumulatedLosses 3 2023-01-01 2023-12-31 02544736 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 02544736 e:RetainedEarningsAccumulatedLosses 2022-12-31 02544736 e:RetainedEarningsAccumulatedLosses 2022-01-01 02544736 e:RetainedEarningsAccumulatedLosses 2 2022-01-01 2022-12-31 02544736 e:RetainedEarningsAccumulatedLosses 3 2022-01-01 2022-12-31 02544736 d:FRS102 2023-01-01 2023-12-31 02544736 d:IndependentExaminationCharity 2023-01-01 2023-12-31 02544736 d:FullAccounts 2023-01-01 2023-12-31 02544736 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02544736 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02544736 e:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02544736 2 2023-01-01 2023-12-31 02544736 6 2023-01-01 2023-12-31 02544736 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 02544736










BSL Gas Technologies Limited










Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
BSL Gas Technologies Limited
 
Independent chartered accountants' review report
to the directors of BSL Gas Technologies Limited
For the year ended 31 December 2023

We have reviewed the financial statements of BSL Gas Technologies Limited for the year ended 31 December 2023, which comprise the Balance sheet, the Statement of changes in equity and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'Financial Reporting Standard applicable in the UK and Republic of Ireland'  (United Kingdom Generally Accepted Accounting Practice).

  
Directors' Responsibility for the Financial Statements
 

As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.


Accountants' Responsibility


Our objective is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics.


Scope of the Assurance Review


A review of the financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.


Conclusion

 
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

so as to give a true and fair view of the state of the Company's affairs as at 31 December 2023, and of its profit for the year then ended;

in accordance with United Kingdom Generally Accepted Accounting Practice and

in accordance with the requirements of the Companies Act 2006.


Page 1

 
BSL Gas Technologies Limited
 

Independent chartered accountants' review report
to the directors of BSL Gas Technologies Limited (continued)
For the year ended 31 December 2023

Use of our report


This report is made solely to the Company's directors, as a body, in accordance with the terms of our engagement letter dated 13 September 2019.  Our review work has been undertaken so that we might state to the Company's directors those matters that we have agreed to state to them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors, as a body, for our review work, for this report or the conclusions we have formed. 
 


Kreston Reeves LLP
Chartered Accountants
Chatham Maritime
4 September 2024

Page 2

 
BSL Gas Technologies Limited
Registered number: 02544736

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
28,344
34,529

Investments
 6 
3,000
3,000

  
31,344
37,529

Current assets
  

Stocks
  
674,679
616,529

Debtors: amounts falling due within one year
 7 
444,931
463,136

Cash at bank and in hand
 8 
844,365
644,869

  
1,963,975
1,724,534

Creditors: amounts falling due within one year
 9 
(262,751)
(228,679)

Net current assets
  
 
 
1,701,224
 
 
1,495,855

Total assets less current liabilities
  
1,732,568
1,533,384

Provisions for liabilities
  

Deferred tax
 10 
(7,086)
(8,402)

  
 
 
(7,086)
 
 
(8,402)

Net assets
  
1,725,482
1,524,982

Page 3

 
BSL Gas Technologies Limited
Registered number: 02544736

Balance sheet (continued)
As at 31 December 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
2,721
3,495

Capital redemption reserve
  
29,881
29,107

Profit And Loss Account
  
1,692,880
1,492,380

  
1,725,482
1,524,982


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 September 2024.




D Blanchard
Director

The notes on pages 6 to 14 form part of these financial statements.

Page 4

 
BSL Gas Technologies Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
3,495
29,107
1,492,380
1,524,982


Comprehensive income for the year

Profit for the year
-
-
368,503
368,503


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(69,988)
(69,988)

Shares redeemed during the year
(760)
760
(84,000)
(84,000)

Repurchase of own shares
(14)
14
(14,015)
(14,015)


Total transactions with owners
(774)
774
(168,003)
(168,003)


At 31 December 2023
2,721
29,881
1,692,880
1,725,482


The notes on pages 6 to 14 form part of these financial statements.


Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
5,155
27,447
1,532,602
1,565,204


Comprehensive income for the year

Profit for the year
-
-
311,010
311,010


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(52,254)
(52,254)

Shares redeemed during the year
(1,520)
1,520
(158,831)
(158,831)

Repurchase of own shares
(140)
140
(140,147)
(140,147)


Total transactions with owners
(1,660)
1,660
(351,232)
(351,232)


At 31 December 2022
3,495
29,107
1,492,380
1,524,982


The notes on pages 6 to 14 form part of these financial statements.

Page 5

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

BSL Gas Technologies Limited is a company limited by shares and is incorporated in England and Wales.  The registered office and principal place of business is 101 Laker Road, Rochester Airport Industrial Estate, Rochester, Kent, ME1 3QX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 6

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

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

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 7

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & equipment
-
10-25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 8

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are
Page 9

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 10

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 11

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

3.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
114,669
77,210

Adjustments in respect of previous periods
-
16,735


Total current tax
114,669
93,945

Deferred tax


Origination and reversal of timing differences
(1,316)
(279)


Taxation on profit on ordinary activities
113,353
93,666

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  23.5% (2022 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.


4.


Dividends

2023
2022
£
£


Ordinary £1 shares
69,988
52,254

Page 12

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 January 2023
138,296



At 31 December 2023

138,296



Depreciation


At 1 January 2023
103,767


Charge for the year on owned assets
6,185



At 31 December 2023

109,952



Net book value



At 31 December 2023
28,344



At 31 December 2022
34,529


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
3,000



At 31 December 2023
3,000





7.


Debtors

2023
2022
£
£


Trade debtors
425,469
440,760

Other debtors
427
-

Prepayments and accrued income
19,035
22,376

444,931
463,136


Page 13

 
BSL Gas Technologies Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
844,365
644,869



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
98,336
70,003

Amounts owed to group undertakings
2,964
2,964

Corporation tax
114,669
77,210

Other taxation and social security
46,782
78,478

Other creditors
-
24

262,751
228,679



10.


Deferred taxation




2023


£






At beginning of year
(8,402)


Charged to profit or loss
1,316



At end of year
(7,086)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,086)
(8,402)


11.


Pension commitments

The Company operates a defined contributions pension scheme.  The assets of the scheme are held separately from those of the Company in an independently administered fund.  The pension cost charge represents contributions payable by the Company to the fund and amounted to £30,540 (2022 - £30,669).  At the balance sheet date £nil was payable to the fund (2022 - £24)


Page 14