Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07979411 Mr Gerard Gaskin Mr Gerard Gaskin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07979411 2023-03-31 07979411 2024-03-31 07979411 2023-04-01 2024-03-31 07979411 frs-core:CurrentFinancialInstruments 2024-03-31 07979411 frs-core:PlantMachinery 2024-03-31 07979411 frs-core:PlantMachinery 2023-04-01 2024-03-31 07979411 frs-core:PlantMachinery 2023-03-31 07979411 frs-core:ShareCapital 2024-03-31 07979411 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07979411 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07979411 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07979411 frs-bus:SmallEntities 2023-04-01 2024-03-31 07979411 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07979411 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07979411 frs-bus:Director1 2023-04-01 2024-03-31 07979411 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07979411 frs-countries:EnglandWales 2023-04-01 2024-03-31 07979411 2022-03-31 07979411 2023-03-31 07979411 2022-04-01 2023-03-31 07979411 frs-core:CurrentFinancialInstruments 2023-03-31 07979411 frs-core:ShareCapital 2023-03-31 07979411 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07979411
BHP Sealants Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07979411
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 157
- 157
CURRENT ASSETS
Debtors 5 9,149 8,930
Cash at bank and in hand 11,717 13,030
20,866 21,960
Creditors: Amounts Falling Due Within One Year 6 (11,902 ) (11,806 )
NET CURRENT ASSETS (LIABILITIES) 8,964 10,154
TOTAL ASSETS LESS CURRENT LIABILITIES 8,964 10,311
NET ASSETS 8,964 10,311
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 8,960 10,307
SHAREHOLDERS' FUNDS 8,964 10,311
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gerard Gaskin
Director
05/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BHP Sealants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07979411 . The registered office is 23 High Street, Bagshot, Surrey, GU19 5AF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 790
As at 31 March 2024 790
Depreciation
As at 1 April 2023 633
Provided during the period 157
As at 31 March 2024 790
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 157
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,856 7,941
Prepayments and accrued income 292 274
VAT 690 715
Other taxes and social security 311 -
9,149 8,930
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,457
Corporation tax 7,681 7,032
Other taxes and social security - 144
Other creditors 2,006 1,240
Accruals and deferred income 244 244
Director's loan account 1,971 1,689
11,902 11,806
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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