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Registered number: 01853665
Bearing Transmission & Pneumatics Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01853665
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,328 14,657
Tangible Assets 5 1,128,300 1,220,783
Investments 6 2 2
1,135,630 1,235,442
CURRENT ASSETS
Stocks 7 219,134 175,355
Debtors 8 1,814,445 1,725,013
Cash at bank and in hand 1,693,097 1,439,909
3,726,676 3,340,277
Creditors: Amounts Falling Due Within One Year 9 (1,124,348 ) (1,157,644 )
NET CURRENT ASSETS (LIABILITIES) 2,602,328 2,182,633
TOTAL ASSETS LESS CURRENT LIABILITIES 3,737,958 3,418,075
Creditors: Amounts Falling Due After More Than One Year 10 (2,310 ) (4,352 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (33,413 ) (33,413 )
NET ASSETS 3,702,235 3,380,310
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 13 181,004 181,004
Profit and Loss Account 3,521,131 3,199,206
SHAREHOLDERS' FUNDS 3,702,235 3,380,310
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D Rose
Director
25 March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bearing Transmission & Pneumatics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01853665 . The registered office is 8 Siddals Road, Derby, DE1 2PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software.  It is amortised to profit and loss account over its estimated economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2.5% straight line
Leasehold 2% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 10% and 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 30)
28 30
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 21,985
As at 31 December 2024 21,985
Amortisation
As at 1 January 2024 7,328
Provided during the period 7,329
As at 31 December 2024 14,657
Net Book Value
As at 31 December 2024 7,328
As at 1 January 2024 14,657
5. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2024 800,000 58,589 786,597 268,285 1,913,471
Additions - - 132,138 35,517 167,655
Disposals - - (190,899 ) (66,427 ) (257,326 )
As at 31 December 2024 800,000 58,589 727,836 237,375 1,823,800
Depreciation
As at 1 January 2024 - 4,751 475,123 212,814 692,688
Provided during the period - 1,172 172,226 24,742 198,140
Disposals - - (130,474 ) (64,854 ) (195,328 )
As at 31 December 2024 - 5,923 516,875 172,702 695,500
...CONTINUED
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Net Book Value
As at 31 December 2024 800,000 52,666 210,961 64,673 1,128,300
As at 1 January 2024 800,000 53,838 311,474 55,471 1,220,783
6. Investments
Listed
£
Cost
As at 1 January 2024 2
As at 31 December 2024 2
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 2
As at 1 January 2024 2
7. Stocks
2024 2023
£ £
Stock 219,134 175,355
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,743,031 1,666,915
Prepayments and accrued income 70,453 56,561
Other debtors 961 1,537
1,814,445 1,725,013
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 857,904 939,792
Corporation tax 105,299 37,850
Other taxes and social security 30,525 33,337
VAT 79,916 97,967
Other creditors 5,235 15,158
Accruals and deferred income 45,469 33,540
1,124,348 1,157,644
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10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Accruals and deferred income 2,310 4,352
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Capital Commitments
2024 2023
£ £
At the end of the period - 142,299
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
13. Reserves
Revaluation Reserve
£
As at 1 January 2024 181,004
As at 31 December 2024 181,004
Page 6