Registered number
08175423
Binding Group Limited
Filleted Accounts
31 August 2024
Binding Group Limited
Registered number: 08175423
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 417,348 438,719
Current assets
Debtors 4 338,909 142,933
Cash at bank and in hand 36,328 146,061
375,237 288,994
Creditors: amounts falling due within one year 5 (100,953) (86,950)
Net current assets 274,284 202,044
Total assets less current liabilities 691,632 640,763
Creditors: amounts falling due after more than one year 6 (179,583) (182,919)
Provisions for liabilities (83,470) (87,744)
Net assets 428,579 370,100
Capital and reserves
Called up share capital 50 50
Profit and loss account 428,529 370,050
Shareholder's funds 428,579 370,100
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Tom Binding
Director
Approved by the board on 31 March 2025
Binding Group Limited
Notes to the Accounts
for the year ended 31 August 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 (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 945,806
Additions 82,966
At 31 August 2024 1,028,772
Depreciation
At 1 September 2023 507,087
Charge for the year 104,337
At 31 August 2024 611,424
Net book value
At 31 August 2024 417,348
At 31 August 2023 438,719
4 Debtors 2024 2023
£ £
Trade debtors 245,991 54,324
Other debtors 92,918 88,609
338,909 142,933
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 26,663 12,660
Other creditors 74,290 74,290
100,953 86,950
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,344 29,298
Obligations under finance lease and hire purchase contracts 162,239 153,621
179,583 182,919
7 Other information
Binding Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Stoke Meadows
Bradley Stoke
Bristol
BS32 9BG
Binding Group Limited 08175423 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 Tom Binding No description of principal activity 08175423 2022-09-01 2023-08-31 08175423 core:WithinOneYear 2023-08-31 08175423 core:AfterOneYear 2023-08-31 08175423 core:ShareCapital 2023-08-31 08175423 core:RetainedEarningsAccumulatedLosses 2023-08-31 08175423 2023-09-01 2024-08-31 08175423 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08175423 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 08175423 bus:Director40 2023-09-01 2024-08-31 08175423 1 2023-09-01 2024-08-31 08175423 2 2023-09-01 2024-08-31 08175423 core:PlantMachinery 2023-09-01 2024-08-31 08175423 countries:England 2023-09-01 2024-08-31 08175423 bus:FRS102 2023-09-01 2024-08-31 08175423 bus:FilletedAccounts 2023-09-01 2024-08-31 08175423 2024-08-31 08175423 core:WithinOneYear 2024-08-31 08175423 core:AfterOneYear 2024-08-31 08175423 core:ShareCapital 2024-08-31 08175423 core:RetainedEarningsAccumulatedLosses 2024-08-31 08175423 core:PlantMachinery 2024-08-31 08175423 2023-08-31 08175423 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure