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REGISTERED NUMBER: 03574473 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

B B A K CONTROL PANELS LIMITED

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B B A K CONTROL PANELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: C D Bond
S L Bond





SECRETARY: S L Bond





REGISTERED OFFICE: 3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW





BUSINESS ADDRESS: 16 Brooklands
Kempston
Bedford
Bedfordshire
MK42 3UH





REGISTERED NUMBER: 03574473 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 120,385 123,419

CURRENT ASSETS
Stocks 50,000 60,000
Debtors 5 240,021 210,827
Cash at bank and in hand 28,155 17,826
318,176 288,653
CREDITORS
Amounts falling due within one year 6 397,891 333,082
NET CURRENT LIABILITIES (79,715 ) (44,429 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,670

78,990

CREDITORS
Amounts falling due after more than one
year

7

(7,247

)

(18,974

)

PROVISIONS FOR LIABILITIES 9 (30,096 ) (30,855 )
NET ASSETS 3,327 29,161

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,327 28,161
3,327 29,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

BALANCE SHEET - continued
31 OCTOBER 2024


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 20 March 2025 and were signed on its behalf by:





C D Bond - Director


B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

B B A K Control Panels 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on a going concern basis by the directors. C D Bond, director, has given his financial support by way of a director's loan which will not be repaid until such time as the company has sufficient available funds to do so.

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
Tangible fixed assets are stated at cost less depreciation. 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.

Asset Basis
Plant and machinery - 30% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
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.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
COST
At 1 November 2023 50,744 4,167 96,935 151,846
Additions 78,677 - - 78,677
Disposals - - (76,940 ) (76,940 )
At 31 October 2024 129,421 4,167 19,995 153,583
DEPRECIATION
At 1 November 2023 17,822 2,880 7,725 28,427
Charge for year 6,471 193 2,916 9,580
Eliminated on disposal - - (4,809 ) (4,809 )
At 31 October 2024 24,293 3,073 5,832 33,198
NET BOOK VALUE
At 31 October 2024 105,128 1,094 14,163 120,385
At 31 October 2023 32,922 1,287 89,210 123,419

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 214,787 187,087
Other debtors 15,125 14,125
VAT 5,175 8,261
Prepayments and accrued income 4,934 1,354
240,021 210,827

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within 'Other debtors' is a rent deposit of £10,000 (2023 : £10,000) due for repayment in more than one year from the balance sheet date.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 7,969 7,919
Trade creditors 204,315 164,790
Tax 1,472 3,761
Social security and other taxes 44,699 23,116
Bank factoring advance 106,198 94,352
Loan 3,600 3,600
Credit card 2,776 1,640
Directors' current accounts 15,126 26,846
Accruals and deferred income 11,736 7,058
397,891 333,082

Included within 'Other creditors' is an amount of £106,198 (2023 : £94,352) due in respect of a bank factoring loan. This loan is secured by way of a legal assignment incorporating a fixed charge on non-vesting debts and a floating charge over the assets and undertakings of the company.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 5,247 7,969
Bank loans - 2-5 years - 5,405
Loan 2,000 5,600
7,247 18,974

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 11,557 860
Between one and five years 14,836 430
26,393 1,290

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 30,096 30,855

B B A K CONTROL PANELS LIMITED (REGISTERED NUMBER: 03574473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 November 2023 30,855
Provided during year (759 )
Balance at 31 October 2024 30,096

10. RELATED PARTY DISCLOSURES

The Company is controlled by Mr and Mrs C W Bond who together with members of their close family own all the Company's issued share capital.

At the year end the company owed £15,126 to C D Bond, director (2023 £26,846). No interest has been charged on the loan during the year (2023 £Nil) and there are no set repayment terms in place.