Registered number
11046176
Bole Machinery Ltd
Filleted Accounts
30 November 2023
Bole Machinery Ltd
Registered number: 11046176
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 40,454 47,593
Current assets
Stocks 160,593 303,490
Debtors 4 200,455 717,469
Cash at bank and in hand 13,089 1,270
374,137 1,022,229
Creditors: amounts falling due within one year 5 (311,805) (619,623)
Net current assets 62,332 402,606
Total assets less current liabilities 102,786 450,199
Creditors: amounts falling due after more than one year 6 (328,974) (318,738)
Net (liabilities)/assets (226,188) 131,461
Capital and reserves
Called up share capital 100 100
Profit and loss account (226,288) 131,361
Shareholder's funds (226,188) 131,461
The directors are 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 directors acknowledge their 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.
Mr H S Khera
Director
Approved by the board on 18 November 2024
Bole Machinery Ltd
Notes to the Accounts
for the year ended 30 November 2023
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, 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 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 94,001
At 30 November 2023 94,001
Depreciation
At 1 December 2022 46,408
Charge for the year 7,139
At 30 November 2023 53,547
Net book value
At 30 November 2023 40,454
At 30 November 2022 47,593
4 Debtors 2023 2022
£ £
Trade debtors 200,455 717,469
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,648
Trade creditors 150,268 374,411
Amounts owed to group undertakings 45,000 45,000
Taxation and social security costs 77,478 165,224
Other creditors 29,059 24,340
311,805 619,623
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,423 25,007
Other creditors 313,551 293,731
328,974 318,738
7 Other information
Bole Machinery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Shaw Park Business Village
Shaw Road
Wolverhampton
WV10 9LE
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