Registered number
11446217
Borehole Calibration and Testing Solutions Ltd
Filleted Accounts
31 October 2024
Borehole Calibration and Testing Solutions Ltd
Registered number: 11446217
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 362,152 36,203
Current assets
Debtors 4 104,888 19,510
Cash at bank and in hand 183 1,999
105,071 21,509
Creditors: amounts falling due within one year 5 (186,007) (37,297)
Net current liabilities (80,936) (15,788)
Total assets less current liabilities 281,216 20,415
Creditors: amounts falling due after more than one year 6 (333,828) (12,938)
Provisions for liabilities (90,653) (9,051)
Net liabilities (143,265) (1,574)
Capital and reserves
Called up share capital 100 100
Profit and loss account (143,365) (1,674)
Shareholders' funds (143,265) (1,574)
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.
J J Rodgman
Director
Approved by the board on 23 June 2025
Borehole Calibration and Testing Solutions Ltd
Notes to the Accounts
for the year ended 31 October 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:
Improvements to leasehold property 25% straight line
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment 33% straight line
Motor vehicles 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 21,672 118,594 18,000 158,266
Additions - 453,700 - 453,700
At 31 October 2024 21,672 572,294 18,000 611,966
Depreciation
At 1 November 2023 21,672 97,766 2,625 122,063
Charge for the year - 123,251 4,500 127,751
At 31 October 2024 21,672 221,017 7,125 249,814
Net book value
At 31 October 2024 - 351,277 10,875 362,152
At 31 October 2023 - 20,828 15,375 36,203
4 Debtors 2024 2023
£ £
Trade debtors 22,064 10,191
Directors loan overdrawn - 1,992
Other debtors 82,824 7,327
104,888 19,510
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,600 2,600
Obligations under finance lease and hire purchase contracts 150,154 5,064
Trade creditors 5,730 2,427
Directors accounts 15,074 10,836
Taxation and social security costs (5,693) (2,629)
Other creditors 18,142 18,999
186,007 37,297
Obligations under finance lease and hire purchase contracts are secured over the assets concerned.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,517 4,117
Obligations under finance lease and hire purchase contracts 332,311 8,821
333,828 12,938
Obligations under finance lease and hire purchase contracts are secured over the assets concerned.
7 Related party transactions
The directors held directors loans during the year. There were advances of £24,739 and repayments of £30,970 during the year. No amounts were written off. The balance at the year end was £15,074 (2023: £10,836, and £1,992 overdrawn). Interest was charged on overdrawn balances.
8 Other information
Borehole Calibration and Testing Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Sapphire Heights Courtyard
31 Tenby Street North
Birmingham
West Midlands
B1 3ES
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