REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
Borders Area Services Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
Borders Area Services Limited |
Borders Area Services Limited (Registered number: SC222153) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Borders Area Services Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
47-49 The Square |
Kelso |
Roxburghshire |
TD5 7HW |
BANKERS: |
31 High Street |
Hawick |
TD9 9BX |
Borders Area Services Limited (Registered number: SC222153) |
Statement of Financial Position |
30 April 2024 |
30/4/24 | 30/4/23 |
Notes | £ | £ |
CURRENT ASSETS |
Inventories |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Borders Area Services Limited (Registered number: SC222153) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Borders Area Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Inventories 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 Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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. |
Going concern |
The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of financial activities in the period in which they relate. |
Borders Area Services Limited (Registered number: SC222153) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Trade debtors |
Accrued income |
Prepayments |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation Tax |
Social security and other taxes |
VAT | 26,140 | 18,753 |
Other creditors |
Accrued expenses |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
Transactions with directors & management |
During the year the company provided services to a director and management. These transactions were to the value of £190 and all under normal market conditions. |
Borders Machinery Ring Limited |
The parent company |
During the year, Borders Machinery Ring Limited charged the company for managerial & training services. All trading was in accordance with the normal operating rules. |
30/4/24 | 30/4/23 |
£ | £ |
Amount due (to)/from related party at balance sheet date | (7,523 | ) | (2,767 | ) |
Value of management charges in the year | 71,346 | 66,033 |
Value of services supplied in the year |
4,914 |
3,605 |
These figures are inclusive of vat. |
Borders Area Services Limited (Registered number: SC222153) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
8. | ULTIMATE CONTROLLING PARTY |
The Ultimate Controlling Party of Border Area Services Ltd is Borders Machinery Ring Ltd. |