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REGISTERED NUMBER: 02762963 (England and Wales)















BULWARK BUS AND COACH ENGINEERING
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BULWARK BUS AND COACH ENGINEERING
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: C I Gwynne
B V Gwynne





SECRETARY: C I Gwynne





REGISTERED OFFICE: Unit 5
Bulwark Industrial Estate
Bulwark
Chepstow
Monmouthshire
NP16 5QZ





REGISTERED NUMBER: 02762963 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 61,017 67,918
61,017 67,918

CURRENT ASSETS
Stocks 10,296 9,805
Debtors 6 124,892 84,198
Cash at bank 50,849 58,707
186,037 152,710
CREDITORS
Amounts falling due within one year 7 156,642 116,650
NET CURRENT ASSETS 29,395 36,060
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,412

103,978

CREDITORS
Amounts falling due after more than one
year

8

(12,683

)

(38,375

)

PROVISIONS FOR LIABILITIES (15,254 ) (13,611 )
NET ASSETS 62,475 51,992

BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)

BALANCE SHEET - continued
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Capital redemption reserve 50 50
Retained earnings 62,325 51,842
SHAREHOLDERS' FUNDS 62,475 51,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd October 2024 and were signed on its behalf by:





B V Gwynne - Director


BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Bulwark Bus and Coach Engineering 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1992, was amortised evenly over its estimated useful life of 7 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
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.

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 - 10 ) .

BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 70,000
AMORTISATION
At 1st July 2023
and 30th June 2024 70,000
NET BOOK VALUE
At 30th June 2024 -
At 30th June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st July 2023 69,276 61,386 2,364 133,026
Additions 6,800 - - 6,800
At 30th June 2024 76,076 61,386 2,364 139,826
DEPRECIATION
At 1st July 2023 26,003 38,098 1,007 65,108
Charge for year 7,608 5,822 271 13,701
At 30th June 2024 33,611 43,920 1,278 78,809
NET BOOK VALUE
At 30th June 2024 42,465 17,466 1,086 61,017
At 30th June 2023 43,273 23,288 1,357 67,918

BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st July 2023
and 30th June 2024 33,970 43,220 77,190
DEPRECIATION
At 1st July 2023 13,588 22,291 35,879
Charge for year 3,397 5,232 8,629
At 30th June 2024 16,985 27,523 44,508
NET BOOK VALUE
At 30th June 2024 16,985 15,697 32,682
At 30th June 2023 20,382 20,929 41,311

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80,097 41,422
Prepayments 44,795 42,776
124,892 84,198

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 10,000 10,000
Hire purchase contracts 15,692 16,589
Trade creditors 63,705 42,345
Corporation Tax 33,979 22,421
Social security and other taxes 1,398 1,772
VAT 20,159 12,499
Other creditors 556 86
Directors' current accounts 7,998 8,119
Accrued expenses 3,155 2,819
156,642 116,650

BULWARK BUS AND COACH ENGINEERING
LIMITED (REGISTERED NUMBER: 02762963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years 9,167 10,000
Other loans - 2-5 years - 9,167
Hire purchase contracts 3,516 19,208
12,683 38,375

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 100
26 Ordinary A £1 26 -
40 Ordinary B £1 40 -
10 Ordinary C £1 10 -
12 Ordinary D £1 12 -
12 Ordinary E £1 12 -
100 100

10. RELATED PARTY DISCLOSURES

The company had the following outstanding directors loans at the year end:
- B V Gwynne owed by the company £412 (2023: £468)
- C I Gwynne owed by the company £7,586 (2023: £7,652)