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REGISTERED NUMBER: 11303677 (England and Wales)

















Bournemouth Steel Limited

Financial Statements

for the Year Ended 30 April 2024






Bournemouth Steel Limited (Registered number: 11303677)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bournemouth Steel Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: S R Brooke
P J Field





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 11303677 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Bournemouth Steel Limited (Registered number: 11303677)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,349 6,325

CURRENT ASSETS
Stocks 7,003 8,783
Debtors 5 15,648 18,414
Cash at bank 141,029 187,548
163,680 214,745
CREDITORS
Amounts falling due within one year 6 129,295 167,029
NET CURRENT ASSETS 34,385 47,716
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,734

54,041

CREDITORS
Amounts falling due after more than one
year

7

(17,500

)

(27,500

)

PROVISIONS FOR LIABILITIES (1,074 ) (1,439 )
NET ASSETS 21,160 25,102

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,060 25,002
SHAREHOLDERS' FUNDS 21,160 25,102

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 1 January 2025 and were signed on its behalf by:




S R Brooke - Director



P J Field - Director


Bournemouth Steel Limited (Registered number: 11303677)

Notes to the Financial Statements
for the year ended 30 April 2024


1. STATUTORY INFORMATION

Bournemouth Steel 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Bournemouth Steel Limited (Registered number: 11303677)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 May 2023 6,658 402 15,102 22,162
Additions - 609 - 609
At 30 April 2024 6,658 1,011 15,102 22,771
DEPRECIATION
At 1 May 2023 4,476 227 11,134 15,837
Charge for year 436 157 992 1,585
At 30 April 2024 4,912 384 12,126 17,422
NET BOOK VALUE
At 30 April 2024 1,746 627 2,976 5,349
At 30 April 2023 2,182 175 3,968 6,325

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 4,853
Transfer to ownership (4,853 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 3,317
Transfer to ownership (3,317 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 1,536

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,229 15,972
Other debtors 2,419 2,442
15,648 18,414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 809
Trade creditors 14,529 19,924
Taxation and social security 14,610 25,170
Other creditors 90,156 111,126
129,295 167,029

Bournemouth Steel Limited (Registered number: 11303677)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 17,500 27,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 809

Hire purchase liabilities were secured on the assets concerned.