Company registration number 03263682 (England and Wales)
BIRCHFIELD ENGINEERING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BIRCHFIELD ENGINEERING LIMITED
COMPANY INFORMATION
Directors
P Bennett
B Bennett
Secretary
P Bennett
Company number
03263682
Registered office
Northfield Road
Netherton
Dudley
West Midlands
DY2 9JQ
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
BIRCHFIELD ENGINEERING LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
BIRCHFIELD ENGINEERING LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF BIRCHFIELD ENGINEERING LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Birchfield Engineering Limited for the year ended 31 March 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Birchfield Engineering Limited, as a body, in accordance with the terms of our engagement letter dated 19 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Birchfield Engineering Limited and state those matters that we have agreed to state to the board of directors of Birchfield Engineering Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Birchfield Engineering Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Birchfield Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Birchfield Engineering Limited. You consider that Birchfield Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Birchfield Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jerroms GCN Limited
5 November 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
BIRCHFIELD ENGINEERING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
499,391
713,937
Current assets
Stocks
5
20,012
24,811
Debtors
6
230,969
263,860
Investments
7
1,017,950
918,435
Cash at bank and in hand
763,059
1,031,516
2,031,990
2,238,622
Creditors: amounts falling due within one year
8
(157,186)
(285,983)
Net current assets
1,874,804
1,952,639
Total assets less current liabilities
2,374,195
2,666,576
Creditors: amounts falling due after more than one year
9
-
0
(36,887)
Provisions for liabilities
10
(161,492)
(178,484)
Net assets
2,212,703
2,451,205
Capital and reserves
Called up share capital
11
120
120
Profit and loss reserves
2,212,583
2,451,085
Total equity
2,212,703
2,451,205
BIRCHFIELD ENGINEERING LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 November 2024 and are signed on its behalf by:
P Bennett
Director
Company registration number 03263682 (England and Wales)
BIRCHFIELD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Birchfield Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Northfield Road, Netherton, Dudley, West Midlands, DY2 9JQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% in year one and 6% per annum thereafter (Previously Straight line over 15 years)
Fixtures and fittings
10% reducing balance
Office equipment
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

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

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

BIRCHFIELD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Pension costs and post-retirements 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.

1.7
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.

1.8
Government grants

Grants are credited to deferred tax revenue. Grants towards capital expenditure are released to the Income Statement over the expected useful life of the assets. Grants towards revenue expenditure are released to the Income Statement as the related expenditure is incurred.

2
Exceptional item
2024
2023
£
£
Expenditure
Exceptional item - Plant & Machinery Depreciation
128,229
-

An exceptional item has occurred due to a change in the depreciation policy for plant and machinery in the year. It was previously depreciated using the straight line method over 15 years, and has now been updated to 20% in the first year and 6% per annum thereafter. The excess depreciation upon the revaluation has been recognised as an exceptional item.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
9
BIRCHFIELD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1,313,303
12,656
2,870
70,107
1,398,936
Depreciation and impairment
At 1 April 2023
651,362
7,385
2,099
24,153
684,999
Depreciation charged in the year
202,414
527
116
11,489
214,546
At 31 March 2024
853,776
7,912
2,215
35,642
899,545
Carrying amount
At 31 March 2024
459,527
4,744
655
34,465
499,391
At 31 March 2023
661,941
5,271
771
45,954
713,937
5
Inventories
2024
2023
£
£
Raw materials
20,012
24,811
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
229,214
261,806
Other debtors
1,755
2,054
230,969
263,860
7
Current asset investments
2024
2023
£
£
Unlisted investments
1,017,950
918,435
BIRCHFIELD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
36,887
54,069
Trade creditors
71,008
89,427
Corporation tax
(76)
68,199
Other taxation and social security
37,062
47,067
Other creditors
2,251
13,133
Accruals and deferred income
10,054
14,088
157,186
285,983
9
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
-
0
36,887
10
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
161,492
178,484
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
75
75
75
75
Ordinary shares 'B' of £1 each
20
20
20
20
95
95
95
95
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
25
25
25
25
Preference shares classified as equity
25
25
Total equity share capital
120
120
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