Registered number
04711159
B C Irwin Ltd
Filleted Accounts
31 March 2024
B C Irwin Ltd
Registered number: 04711159
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 769
Current assets
Stocks 2,500 2,500
Debtors 4 4,050 4,050
Cash at bank and in hand 519 5,954
7,069 12,504
Creditors: amounts falling due within one year 5 (6,572) (10,008)
Net current assets 497 2,496
Net assets 497 3,265
Capital and reserves
Called up share capital 1 1
Profit and loss account 496 3,264
Shareholder's funds 497 3,265
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B C Irwin
Director
Approved by the board on 11 September 2024
B C Irwin Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 4,100
At 31 March 2024 4,100
Depreciation
At 1 April 2023 3,331
Charge for the year 769
At 31 March 2024 4,100
Net book value
At 31 March 2024 -
At 31 March 2023 769
4 Debtors 2024 2023
£ £
Trade debtors 4,050 4,050
Other debtors - -
4,050 4,050
5 Creditors: amounts falling due within one year 2024 2023
£ £
Director's current account 48 11
Taxation and social security costs 6,524 9,997
6,572 10,008
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