| REGISTERED NUMBER: |
| BIRMINGHAM BUSWORKS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1ST AUGUST 2023 TO 31ST DECEMBER 2024 |
| REGISTERED NUMBER: |
| BIRMINGHAM BUSWORKS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1ST AUGUST 2023 TO 31ST DECEMBER 2024 |
| BIRMINGHAM BUSWORKS LIMITED (REGISTERED NUMBER: 13286313) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST AUGUST 2023 TO 31ST DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| BIRMINGHAM BUSWORKS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1ST AUGUST 2023 TO 31ST DECEMBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| CHARTERED ACCOUNTANTS |
| 3 Lyttleton Court |
| Birmingham Street |
| Halesowen |
| West Midlands |
| B63 3HN |
| BIRMINGHAM BUSWORKS LIMITED (REGISTERED NUMBER: 13286313) |
| BALANCE SHEET |
| 31ST DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges his 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. |
| BIRMINGHAM BUSWORKS LIMITED (REGISTERED NUMBER: 13286313) |
| BALANCE SHEET - continued |
| 31ST DECEMBER 2024 |
| The financial statements were approved by the director and authorised for issue on |
| BIRMINGHAM BUSWORKS LIMITED (REGISTERED NUMBER: 13286313) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST AUGUST 2023 TO 31ST DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Birmingham Busworks Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery - 20% on cost |
| Office and computer equipment - 33% on cost |
| Tools and equipment - 33% on cost |
| Leasehold improvements - 33% on cost |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprise direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
| Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. |
| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
| Taxation |
| Taxation for the period 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. |
| BIRMINGHAM BUSWORKS LIMITED (REGISTERED NUMBER: 13286313) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST AUGUST 2023 TO 31ST DECEMBER 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 period 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Employee benefits |
| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Office & |
| to | Plant and | Computer | Tools and |
| property | machinery | Equipment | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st August 2023 |
| Additions |
| At 31st December 2024 |
| DEPRECIATION |
| At 1st August 2023 |
| Charge for period |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st July 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| BIRMINGHAM BUSWORKS LIMITED (REGISTERED NUMBER: 13286313) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST AUGUST 2023 TO 31ST DECEMBER 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| The Green Bus Company Limited is controlled by the director of Birmingham Busworks Limited. |
| Services, goods and assets were purchased from The Green Bus Company Limited to the value of £24,549 (2023: £647,750). At the year end £Nil (2023: £Nil) was owed to The Green Bus Company Limited for these purchases. |
| Services, goods and assets were sold to The Green Bus Company Limited to the value of £Nil (2023: £363,000). At the year end £Nil (2023: £Nil) was owed from The Green Transport Company Limited for these sales. |
| During the year and the previous year, funds were loaned from The Green Bus Company Limited and at the year end the company still owed £28,546 (2023: £422,786). No interest is being charged on the loan and no set repayment terms have been placed on it. |
| The Green Transport Company Limited is controlled by the director of Birmingham Busworks Limited. |
| Services, goods and assets were purchased from The Green Transport Company Limited to the value of £58,486 (2023: £26,237). At the year end £Nil (2023: £Nil) was owed to The Green Transport Company Limited for these purchases. |
| Services, goods and assets were sold to The Green Transport Company Limited to the value of £60,000 (2023: £21,965). At the year end £Nil (2023: £Nil) was owed from The Green Transport Company Limited for these sales. |
| During the previous year funds were loaned from The Green Transport Company Limited and at the year end the company still owed £Nil (2023: £10,278). No interest is being charged on the loan and no set repayment terms have been placed on it. |
| Birmingham City Transport Limited is controlled by the director of Birmingham Busworks Limited. |
| Services, goods and assets were purchased from Birmingham City Transport Limited to the value of £13,204 (2023: £262,923). At the year end £Nil (2023: £Nil) was owed to Birmingham City Transport Limited for these purchases. |
| Services, goods and assets were sold to Birmingham City Transport Limited to the value of £14,800 (2023: £1,500). At the year end £Nil (2023: £Nil) was owed from The Green Transport Company Limited for these sales. |
| During the previous year funds were loaned from Birmingham City Transport Limited and at the year end the company still owed £Nil (2023: £303,875). No interest is being charged on the loan and no set repayment terms have been placed on it. |
| BIRMINGHAM BUSWORKS LIMITED (REGISTERED NUMBER: 13286313) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST AUGUST 2023 TO 31ST DECEMBER 2024 |
| 8. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is Buses Unlimited Limited, a company registered in England and Wales. |
| 9. | CHANGE OF PERIOD END |
| The Company year end was amended from 31 July 2024 to 31 December 2024 due to it being a quieter time of year for the trade. |