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REGISTERED NUMBER: 11067204 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Bear Metals Limited

Bear Metals Limited (Registered number: 11067204)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bear Metals Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S A Mitchell
M D Parker
Mrs R Goodsir





REGISTERED OFFICE: Highcliffe Industrial Estate
Bruntcliffe Lane
Morley
Leeds
West Yorkshire
LS27 9LR





REGISTERED NUMBER: 11067204 (England and Wales)





ACCOUNTANTS: Egan Roberts Limited
Accountants
Citygate
Longridge Road
Preston
Lancashire
PR2 5BQ

Bear Metals Limited (Registered number: 11067204)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169,338 106,822

CURRENT ASSETS
Stocks 513,868 466,420
Debtors 5 608,795 134,561
Cash at bank and in hand 85,733 80,298
1,208,396 681,279
CREDITORS
Amounts falling due within one year 6 1,214,801 620,963
NET CURRENT (LIABILITIES)/ASSETS (6,405 ) 60,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,933

167,138

CREDITORS
Amounts falling due after more than
one year

7

(106,379

)

(107,683

)

PROVISIONS FOR LIABILITIES (3,925 ) -
NET ASSETS 52,629 59,455

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 52,529 59,355
SHAREHOLDERS' FUNDS 52,629 59,455

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

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

Bear Metals Limited (Registered number: 11067204)

Balance Sheet - continued
31 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 23 September 2024 and were signed on its behalf by:





S A Mitchell - Director


Bear Metals Limited (Registered number: 11067204)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bear Metals 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.

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.

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 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.

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
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.

Bear Metals Limited (Registered number: 11067204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 - 5,564 14,009
Additions 1,500 89,922 1,489
At 31 December 2023 1,500 95,486 15,498
DEPRECIATION
At 1 January 2023 - 856 4,595
Charge for year - 4,237 2,989
At 31 December 2023 - 5,093 7,584
NET BOOK VALUE
At 31 December 2023 1,500 90,393 7,914
At 31 December 2022 - 4,708 9,414

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 96,533 9,905 126,011
Additions - 5,343 98,254
At 31 December 2023 96,533 15,248 224,265
DEPRECIATION
At 1 January 2023 9,713 4,025 19,189
Charge for year 24,134 4,378 35,738
At 31 December 2023 33,847 8,403 54,927
NET BOOK VALUE
At 31 December 2023 62,686 6,845 169,338
At 31 December 2022 86,820 5,880 106,822

Bear Metals Limited (Registered number: 11067204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 107,550 33,853
Amounts owed by group undertakings 418,482 12,922
Other debtors 61,983 22,775
Directors' current accounts - 50,868
Tax - 9,055
Prepayments 20,780 5,088
608,795 134,561

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,333 8,472
Hire purchase contracts 40,788 18,527
Trade creditors 527,492 23,774
Amounts owed to group undertakings 461,569 505,359
Tax 10,830 12,302
Social security and other taxes 6,518 -
VAT 66,742 26,537
Other creditors 13,354 12,683
Credit card 62,167 9,589
Directors' current accounts 3,488 -
Deferred income - 200
Accrued expenses 3,520 3,520
1,214,801 620,963

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 18,333 5,000
Bank loans - 2-5 years 23,889 15,000
Bank loans more 5 yr by instal 13,750 18,750
Hire purchase contracts 50,407 68,933
106,379 107,683

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,750 18,750

Bear Metals Limited (Registered number: 11067204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
S A Mitchell
Balance outstanding at start of year 50,868 27,862
Amounts advanced 23,803 67,492
Amounts repaid (78,160 ) (44,486 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,489 ) 50,868