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REGISTERED NUMBER: 10426535 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

BEARING FACTORS LIMITED

BEARING FACTORS LIMITED (REGISTERED NUMBER: 10426535)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BEARING FACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: C D Egar
M P Egar





REGISTERED OFFICE: Unit C3A
Progress Road
Whitewalls Industrial Estate
Nelson
Lancashire
BB9 8TE





REGISTERED NUMBER: 10426535 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

BEARING FACTORS LIMITED (REGISTERED NUMBER: 10426535)

BALANCE SHEET
30TH JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 28,200 35,250
Tangible assets 5 26,558 36,104
54,758 71,354

CURRENT ASSETS
Stocks 8,456 9,474
Debtors 6 177,407 179,598
Cash at bank and in hand 56,382 73,527
242,245 262,599
CREDITORS
Amounts falling due within one year 7 179,265 184,843
NET CURRENT ASSETS 62,980 77,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,738

149,110

CREDITORS
Amounts falling due after more than one
year

8

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES (2,808 ) (4,353 )
NET ASSETS 104,930 124,757

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 104,929 124,756
104,930 124,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BEARING FACTORS LIMITED (REGISTERED NUMBER: 10426535)

BALANCE SHEET - continued
30TH JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th November 2024 and were signed on its behalf by:





M P Egar - Director


BEARING FACTORS LIMITED (REGISTERED NUMBER: 10426535)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Bearing Factors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks 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 Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

BEARING FACTORS LIMITED (REGISTERED NUMBER: 10426535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 70,500
AMORTISATION
At 1st July 2023 35,250
Charge for year 7,050
At 30th June 2024 42,300
NET BOOK VALUE
At 30th June 2024 28,200
At 30th June 2023 35,250

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st July 2023
and 30th June 2024 19,797 52,216 2,799 74,812
DEPRECIATION
At 1st July 2023 8,138 29,006 1,564 38,708
Charge for year 2,971 5,803 772 9,546
At 30th June 2024 11,109 34,809 2,336 48,254
NET BOOK VALUE
At 30th June 2024 8,688 17,407 463 26,558
At 30th June 2023 11,659 23,210 1,235 36,104

BEARING FACTORS LIMITED (REGISTERED NUMBER: 10426535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 164,395 169,723
Other debtors 13,012 9,875
177,407 179,598

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 128,128 144,062
Taxation and social security 34,290 27,390
Other creditors 6,847 3,391
179,265 184,843

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 10,000 20,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th June 2024 and 30th June 2023:

30.6.24 30.6.23
£    £   
C D Egar
Balance outstanding at start of year 4,149 (942 )
Amounts advanced 44,270 43,091
Amounts repaid (44,000 ) (38,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,419 4,149

M P Egar
Balance outstanding at start of year (111 ) (2,718 )
Amounts advanced 40,965 40,607
Amounts repaid (44,000 ) (38,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,146 ) (111 )

Directors' loans are unsecured, interest free and repayable on demand.