Registered number
13039676
CONVEYOR BEARINGS LIMITED
Accounts
For the year ended 31 December 2024
CONVEYOR BEARINGS LIMITED
Registered number: 13039676
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,053 27,148
Current assets
Stocks 65,405 64,575
Debtors 4 68,731 35,350
Cash at bank and in hand 42,168 43,194
176,304 143,119
Creditors: amounts falling due within one year 5 (85,440) (77,329)
Net current assets 90,864 65,790
Total assets less current liabilities 113,917 92,938
Provisions for liabilities (4,380) (5,158)
Net assets 109,537 87,780
Capital and reserves
Called up share capital 10 10
Profit and loss account 109,527 87,770
Shareholders' funds 109,537 87,780
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.
B J Stokes
Director
Approved by the board on 30 April 2025
CONVEYOR BEARINGS LIMITED
Notes to the Accounts
for the year ended 31 December 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 tax. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Depreciation has been provided at the following annual rates in order to write off the assets over their estimated useful lives.
Office equipment 20% reducing balance basis
Plant and equipment 15% reducing balance basis
Fixtures and fittings 15% reducing balance basis
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures and fittings Plant and equipment Office equipment Total
£ £ £ £
Cost
At 1 January 2024 3,482 39,981 890 44,353
At 31 December 2024 3,482 39,981 890 44,353
Depreciation
At 1 January 2024 1,343 15,428 434 17,205
Charge for the year 321 3,683 91 4,095
At 31 December 2024 1,664 19,111 525 21,300
Net book value
At 31 December 2024 1,818 20,870 365 23,053
At 31 December 2023 2,139 24,553 456 27,148
4 Debtors 2024 2023
£ £
Trade debtors 68,378 35,090
Other debtors 353 260
68,731 35,350
5 Creditors: amounts falling due within one year 2024 2023
£ £
Loan account 30,093 35,648
Trade creditors 41,176 24,516
Taxation and social security costs 8,490 11,336
Other creditors 5,681 5,829
85,440 77,329
6 Other information
CONVEYOR BEARINGS LIMITED is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Portway House
Stream Road
Kingswinford
West Midlands
DY6 9NT
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