BHS Corrugated Limited 02349464 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is marketing and servicing BHS corrugating machinery and associated equipment manufactured in Germany, within the UK and Republic of Ireland. Digita Accounts Production Advanced 6.30.9574.0 true false true 02349464 2024-01-01 2024-12-31 02349464 2024-12-31 02349464 core:CurrentFinancialInstruments 2024-12-31 02349464 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02349464 core:BetweenTwoFiveYears 2024-12-31 02349464 core:WithinOneYear 2024-12-31 02349464 core:FurnitureFittings 2024-12-31 02349464 core:MotorVehicles 2024-12-31 02349464 core:PlantMachinery 2024-12-31 02349464 bus:SmallEntities 2024-01-01 2024-12-31 02349464 bus:Audited 2024-01-01 2024-12-31 02349464 bus:FilletedAccounts 2024-01-01 2024-12-31 02349464 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02349464 bus:RegisteredOffice 2024-01-01 2024-12-31 02349464 bus:Director3 2024-01-01 2024-12-31 02349464 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02349464 core:FurnitureFittings 2024-01-01 2024-12-31 02349464 core:MotorVehicles 2024-01-01 2024-12-31 02349464 core:PlantMachinery 2024-01-01 2024-12-31 02349464 core:ToolsEquipment 2024-01-01 2024-12-31 02349464 1 2024-01-01 2024-12-31 02349464 countries:England 2024-01-01 2024-12-31 02349464 2023-12-31 02349464 core:FurnitureFittings 2023-12-31 02349464 core:MotorVehicles 2023-12-31 02349464 core:PlantMachinery 2023-12-31 02349464 2023-01-01 2023-12-31 02349464 2023-12-31 02349464 core:CurrentFinancialInstruments 2023-12-31 02349464 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02349464 core:BetweenTwoFiveYears 2023-12-31 02349464 core:WithinOneYear 2023-12-31 02349464 core:FurnitureFittings 2023-12-31 02349464 core:MotorVehicles 2023-12-31 02349464 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 02349464

BHS Corrugated Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

BHS Corrugated Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 8

 

BHS Corrugated Limited

(Registration number: 02349464)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

354,485

292,461

Current assets

 

Stocks

5

3,900

3,900

Debtors

6

1,299,276

1,033,709

Cash at bank and in hand

 

364,778

1,144,857

 

1,667,954

2,182,466

Creditors: Amounts falling due within one year

7

(422,331)

(500,565)

Net current assets

 

1,245,623

1,681,901

Total assets less current liabilities

 

1,600,108

1,974,362

Provisions for liabilities

(12,457)

(18,118)

Net assets

 

1,587,651

1,956,244

Capital and reserves

 

Called up share capital

20,000

20,000

Profit and loss account

1,567,651

1,936,244

Shareholders' funds

 

1,587,651

1,956,244

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 13 February 2025 and signed on its behalf by:
 


Mr P A Pinnington
Director

 

BHS Corrugated Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Granary
Weston Road
Congresbury
Bristol
BS49 5EB

Principal activity

The principal activity of the company is marketing and servicing BHS corrugating machinery and associated equipment manufactured in Germany, within the UK and Republic of Ireland.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

BHS Corrugated Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 13 February 2025 was Peter Lomax, who signed for and on behalf of Westcotts (SW) LLP.

.........................................

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- The amount of revenue can be reliably measured.
- It is probable that future economic benefits will flow to the entity.
- Specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

BHS Corrugated Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment, tools and computers

3-5 years straight line

Fixtures and fittings

6 years straight line

Motor vehicles

3-5 years straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

BHS Corrugated Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument with appropriate allowance for impairment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2023 - 20).

 

BHS Corrugated Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Equipment, tools and computers
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

1,739

168,601

593,681

764,021

Additions

-

16,510

182,343

198,853

Disposals

-

-

(56,315)

(56,315)

At 31 December 2024

1,739

185,111

719,709

906,559

Depreciation

At 1 January 2024

1,739

152,264

317,557

471,560

Charge for the year

-

13,134

123,695

136,829

Eliminated on disposal

-

-

(56,315)

(56,315)

At 31 December 2024

1,739

165,398

384,937

552,074

Carrying amount

At 31 December 2024

-

19,713

334,772

354,485

At 31 December 2023

-

16,337

276,124

292,461

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

3,900

3,900

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

768,819

687,393

Amounts owed by related parties

10

269,865

176,648

Other debtors

 

28,848

-

Prepayments

 

85,145

68,568

Accrued income

 

146,599

101,100

 

1,299,276

1,033,709

 

BHS Corrugated Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

71,547

26,050

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

27,426

6,597

Taxation and social security

 

134,904

243,104

Accruals and deferred income

 

186,504

222,864

Other creditors

 

1,950

1,950

 

422,331

500,565

Accrued pension costs of £21,350 (2023 - £14,964) are included in Accruals and deferred income

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

32,919

17,200

Later than one year and not later than five years

32,198

-

65,117

17,200

 

BHS Corrugated Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

10

Related party transactions

During the year and prior year the company traded with various group companies.

Turnover £1,805,001 (2023 £1,611,463)
Debtors at 31 December £269,865 (2023 £176,648)

Expenses £162,817 (2023 £121,796)
Creditors at 31 December £27,426 (2023 £6,597)

There were no further transactions with related parties undertaken such as are required to be disclosed under FRS 102 Section 1A.

11

Parent and ultimate parent undertaking

The company's immediate parent is BHS Corrugated Maschinen-und Anlagenbau GmbH, incorporated in Germany.

 The ultimate parent is CELE Holding GmbH & Co. KG, incorporated in Germany.

 The most senior parent entity producing publicly available financial statements is BHS Corrugated Maschinen-und Anlagenbau GmbH. These financial statements are available upon request from The Electronic Federal Gazette or at www.ebundesanzeiger.de.