Registered number
06881021
BST Industries Ltd
Filleted Accounts
31 December 2024
BST Industries Ltd
Registered number: 06881021
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,491 37,054
Current assets
Stocks 1,817 2,271
Debtors 4 103,955 90,860
Cash at bank and in hand 26,626 38,465
132,398 131,596
Creditors: amounts falling due within one year 5 (34,912) (45,222)
Net current assets 97,486 86,374
Total assets less current liabilities 127,977 123,428
Creditors: amounts falling due after more than one year 6 (855) (1,710)
Provisions for liabilities (3,051) (4,345)
Net assets 124,071 117,373
Capital and reserves
Called up share capital 100 100
Profit and loss account 123,971 117,273
Shareholders' funds 124,071 117,373
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 members have 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.
J A Turner
Director
Approved by the board on 6 May 2025
BST Industries Ltd
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 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:
Buildings 2% per annum of cost
Plant and machinery 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 21,044 39,923 60,967
Additions - 1,710 1,710
At 31 December 2024 21,044 41,633 62,677
Depreciation
At 1 January 2024 2,526 21,387 23,913
Charge for the year 421 7,852 8,273
At 31 December 2024 2,947 29,239 32,186
Net book value
At 31 December 2024 18,097 12,394 30,491
At 31 December 2023 18,518 18,536 37,054
4 Debtors 2024 2023
£ £
Trade debtors 5,000 14,680
Amounts due from associated undertakings 87,691 70,611
Other debtors 11,264 5,569
103,955 90,860
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 855 855
Trade creditors 2,559 1,135
Taxation and social security costs 24,503 35,636
Other creditors 6,995 7,596
34,912 45,222
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 855 1,710
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 14,211 -
8 Related party transactions
The director has an usecured, interest free current account with the company, repayable on demand. The amount due to the related party at 31st December 2024 was £53 (2023 £654). The company paid a dividend of £62000 to the director Mr James Turner.
9 Controlling party
The company is under the control of Mr James Turner, the sole director and shareholder.
10 Other information
BST Industries Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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