| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| BORDER ENGINEERING LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| BORDER ENGINEERING LIMITED |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| 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 |
| BORDER ENGINEERING LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 OCTOBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 260 - 270 Butterfield |
| Great Marlings |
| Luton |
| Bedfordshire |
| LU2 8DL |
| BANKERS: |
| 63 George Street |
| Luton |
| Bedfordshire |
| LU1 2AR |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| BALANCE SHEET |
| 31 OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Border Engineering 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 represents net invoiced sales of goods, excluding value added tax. |
| In respect of contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover is recognised by reference to the stage of completion of the contract. |
| Tangible fixed assets |
| Improvements to property | - |
| Long leasehold | - |
| Laser cutter and pressbrake | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| 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. |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| 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. |
| Grants received |
| Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to the purchase of assets are treated as deferred income and allocated to profit and loss account over the useful lives of the related assets. Grants related to expenses are treated as other income on the profit and loss account. |
| Stocks |
| Stock is initially measured and recognised at cost. After initial recognition, stock is measured at the lower of cost and net realiseable value. Stock includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition, along with work in progress recognised at cost plus a fair and reasonable proportion of overheads. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Laser |
| Improvements | cutter |
| to | Long | and | Plant and |
| property | leasehold | pressbrake | machinery |
| £ | £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 November 2023 |
| Transfer to ownership | (90,000 | ) |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| Transfer to ownership | (49,819 | ) |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 5. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Closing stock and work in progress |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Corporation tax |
| Taxation and social security |
| Other creditors |
| Directors' loan accounts | 68,167 | 28,585 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Non-cancellable operating | leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| BORDER ENGINEERING LIMITED (REGISTERED NUMBER: 02128248) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 2024 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts | - | 3,238 |
| Loans from directors | 40,000 | - |
| The company's hire purchase contracts are secured over the assets to which they relate. |
| The directors Dr J Mills and Mr A Gerrard have a fixed charge over the Byspirit fiber laser cutter to cover all amounts of loan capital and interest unpaid, both present and future owed by the company. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax |
| Capital allowances | 23,305 | 34,137 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2023 |
| Capital allowances | (10,832 | ) |
| Balance at 31 October 2024 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary A | £1 | 35 | 35 |
| Ordinary B | £1 | 35 | 35 |
| Ordinary D | £1 | 10 | 10 |
| 10 | Ordinary C | £1 | 10 | 10 |
| 5 | Ordinary E | £1 | 5 | 5 |
| 5 | Ordinary F | £1 | 5 | 5 |
| 100 | 100 |
| All classes of shares have the same voting rights and rank pari passu except for the right to receive dividends. |