Registered number
10340435
Bexley Village Metals Limited
Filleted Accounts
For the year ended 31 January 2024
Bexley Village Metals Limited
Registered number: 10340435
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 25,046 14,530
Current assets
Stocks 8,870 6,465
Debtors 4 97,088 5,293
Cash at bank and in hand 75,182 214,496
181,140 226,254
Creditors: amounts falling due within one year 5 (116,758) (105,649)
Net current assets 64,382 120,605
Total assets less current liabilities 89,428 135,135
Provisions for liabilities (5,637) (2,762)
Net assets 83,791 132,373
Capital and reserves
Called up share capital 2 2
Profit and loss account 83,789 132,371
Shareholders' funds 83,791 132,373
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 members have 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.
Approved by the board on 23 December 2024
J Taylor
Director
Bexley Village Metals Limited
Notes to the Accounts
for the year ended 31 January 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the the sale of scrap metals.
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:
Motor vehicles 25% per annum on cost
Tools and equipment 25% per annum on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price. 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). 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.
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 6 6
3 Tangible fixed assets
Tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2023 21,220 5,000 26,220
Additions 5,325 13,500 18,825
Disposals - - -
At 31 January 2024 26,545 18,500 45,045
Depreciation
At 1 February 2023 8,565 3,125 11,690
Charge for the year 5,090 3,219 8,309
At 31 January 2024 13,655 6,344 19,999
Net book value
At 31 January 2024 12,890 12,156 25,046
At 31 January 2023 12,655 1,875 14,530
4 Debtors 2024 2023
£ £
Trade debtors 16,675 1,809
Directors loans 80,000 -
Other debtors 413 3,484
97,088 5,293
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 105,795 92,281
Accrued expenses 10,715 9,215
Other creditors 248 4,153
116,758 105,649
6 Loans to directors
Interest bearing 2.25% per annum B/fwd Paid Repaid C/fwd
£ £ £ £
J Taylor - 40,000 - 40,000
F Haward-Taylor - 40,000 - 40,000
- 80,000 - 80,000
7 Other information
Bexley Village Metals Limited is a private company limited by shares and incorporated in England. Its registered office is 57 - 59 Bexley High Street, Bexley, Kent DA5 1AB
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