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Filleted
Registration number: 09442694

Birdshill Biomass Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Birdshill Biomass Ltd

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Birdshill Biomass Ltd

Company Information

Director

Mr Nicholas William Cater

Registered office

Parc Bryers
Dryslwyn
Carmarthen
SA19 8QX

Accountants

LHP Cross Hands
Chartered Certified Accountants
Suite 3 & 6
Block B
Llys y Barcud
Cross Hands
SA14 6RX

 

Birdshill Biomass Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

 

1,813,905

1,604,049

Cost of sales

 

(892,666)

(872,213)

Gross profit

 

921,239

731,836

Administrative expenses

 

(787,605)

(600,460)

Other operating income

 

5,000

-

Operating profit

 

138,634

131,376

Profit before tax

138,634

131,376

Taxation

 

(38,407)

(24,558)

Profit for the financial year

 

100,227

106,818

Retained earnings brought forward

 

242,172

142,354

Dividends paid

 

-

(7,000)

Company donations to Birdshill Employee Ownership Trust

 

(22,500)

-

Retained earnings carried forward

 

319,899

242,172

 

Birdshill Biomass Ltd

(Registration number: 09442694)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

7,814

Tangible assets

5

112,995

77,620

 

112,995

85,434

Current assets

 

Stocks

6

40,159

46,245

Debtors

7

240,095

163,506

Cash at bank and in hand

 

103,092

69,579

 

383,346

279,330

Creditors: Amounts falling due within one year

8

(151,513)

(108,912)

Net current assets

 

231,833

170,418

Total assets less current liabilities

 

344,828

255,852

Provisions for liabilities

(24,827)

(13,578)

Net assets

 

320,001

242,274

Capital and reserves

 

Called up share capital

9

102

102

Retained earnings

319,899

242,172

Shareholders' funds

 

320,001

242,274

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 October 2024
 

 

Birdshill Biomass Ltd

(Registration number: 09442694)
Balance Sheet as at 29 February 2024

.........................................
Mr Nicholas William Cater
Director

   
     
 

Birdshill Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Parc Bryers
Dryslwyn
Carmarthen
SA19 8QX

These financial statements were authorised for issue by the director on 22 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Adjusting events after the financial period

The company is due to contribute £514,932 to the company's Employee Ownership Trust (EOT) to acquire shares in the company payable in installments of £4,500 per month until the balance is settled.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

Birdshill Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% Reducing Balance

Plant and machinery

20% Reducing Balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible assets

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Birdshill Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 10).

 

Birdshill Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 March 2023

14,764

14,764

At 29 February 2024

14,764

14,764

Amortisation

At 1 March 2023

6,950

6,950

Amortisation charge

7,814

7,814

At 29 February 2024

14,764

14,764

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

7,814

7,814

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

33,831

98,711

132,542

Additions

711

62,913

63,624

At 29 February 2024

34,542

161,624

196,166

Depreciation

At 1 March 2023

17,668

37,254

54,922

Charge for the year

3,375

24,874

28,249

At 29 February 2024

21,043

62,128

83,171

Carrying amount

At 29 February 2024

13,499

99,496

112,995

At 28 February 2023

16,163

61,457

77,620

6

Stocks

2024
£

2023
£

Other inventories

40,159

46,245

 

Birdshill Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

222,414

144,423

Prepayments

3,031

3,032

Other debtors

14,650

16,051

 

240,095

163,506

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

81,604

55,756

Taxation and social security

 

15,682

7,817

Other related parties

 

-

285

Outstanding defined contribution pension costs

 

12,659

11,340

Other creditors

 

16,054

10,800

Corporation tax liability

 

25,514

22,914

 

151,513

108,912

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

A Ordinary of £1 each

1

1

1

1

B Ordinary of £1 each

1

1

1

1

102

102

102

102

10

Related party transactions