B D C Systems Limited 02898684 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Wholesale of agricultural machinery, equipment and supplies Digita Accounts Production Advanced 6.30.9574.0 true true true 02898684 2024-01-01 2024-12-31 02898684 2024-12-31 02898684 bus:OrdinaryShareClass1 2024-12-31 02898684 core:CapitalRedemptionReserve 2024-12-31 02898684 core:RetainedEarningsAccumulatedLosses 2024-12-31 02898684 core:ShareCapital 2024-12-31 02898684 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 02898684 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 02898684 core:CurrentFinancialInstruments 2024-12-31 02898684 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02898684 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 02898684 core:BetweenOneFiveYears 2024-12-31 02898684 core:BetweenTwoFiveYears 2024-12-31 02898684 core:MoreThanFiveYears 2024-12-31 02898684 core:WithinOneYear 2024-12-31 02898684 core:FurnitureFittingsToolsEquipment 2024-12-31 02898684 core:MotorVehicles 2024-12-31 02898684 bus:SmallEntities 2024-01-01 2024-12-31 02898684 bus:Audited 2024-01-01 2024-12-31 02898684 bus:FilletedAccounts 2024-01-01 2024-12-31 02898684 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02898684 bus:RegisteredOffice 2024-01-01 2024-12-31 02898684 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 02898684 bus:Director1 2024-01-01 2024-12-31 02898684 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 02898684 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02898684 core:FurnitureFittings 2024-01-01 2024-12-31 02898684 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 02898684 core:MotorVehicles 2024-01-01 2024-12-31 02898684 1 2024-01-01 2024-12-31 02898684 countries:EnglandWales 2024-01-01 2024-12-31 02898684 2023-12-31 02898684 core:FurnitureFittingsToolsEquipment 2023-12-31 02898684 core:MotorVehicles 2023-12-31 02898684 2023-01-01 2023-12-31 02898684 2023-12-31 02898684 bus:OrdinaryShareClass1 2023-12-31 02898684 core:CapitalRedemptionReserve 2023-12-31 02898684 core:RetainedEarningsAccumulatedLosses 2023-12-31 02898684 core:ShareCapital 2023-12-31 02898684 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 02898684 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 02898684 core:CurrentFinancialInstruments 2023-12-31 02898684 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02898684 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 02898684 core:BetweenOneFiveYears 2023-12-31 02898684 core:BetweenTwoFiveYears 2023-12-31 02898684 core:MoreThanFiveYears 2023-12-31 02898684 core:WithinOneYear 2023-12-31 02898684 core:FurnitureFittingsToolsEquipment 2023-12-31 02898684 core:MotorVehicles 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02898684

B D C Systems Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

B D C Systems Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 8

 

B D C Systems Limited

(Registration number: 02898684)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

131,536

Current assets

 

Stocks

5

-

450,417

Debtors

6

215,143

843,295

Cash at bank and in hand

 

692,118

836,005

 

907,261

2,129,717

Creditors: Amounts falling due within one year

7

(888,046)

(447,690)

Net current assets

 

19,215

1,682,027

Total assets less current liabilities

 

19,215

1,813,563

Creditors: Amounts falling due after more than one year

7

-

(44,304)

Provisions for liabilities

-

(32,885)

Net assets

 

19,215

1,736,374

Capital and reserves

 

Called up share capital

8

80

80

Capital redemption reserve

20

20

Retained earnings

19,115

1,736,274

Shareholders' funds

 

19,215

1,736,374

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

.........................................
W J McArthur
Director

.........................................
A N Lee
Company secretary and director

 

B D C Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
B D C Systems Limited
Grafton Road
Burbage
Marlborough
SN8 3BA

These financial statements were authorised for issue by the Board on 23 May 2025.

These financial statements cover the individual entity, B D C Systems Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

As at 31 December 2024, the company had hived up its trade and activities into its parent company and ceased trading. The directors consider it appropriate to prepare the accounts on the going concern basis on the grounds that the company will continue as a dormant company.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 23 May 2025 was Carrie Anne Jensen ACA, who signed for and on behalf of Forrester Boyd Robson Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

B D C Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Straight Line

Fixtures & Fittings

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

B D C Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

B D C Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 9 (2023 - 12).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

146,803

246,023

392,826

Disposals

(146,803)

(246,023)

(392,826)

At 31 December 2024

-

-

-

Depreciation

At 1 January 2024

144,077

117,213

261,290

Charge for the year

1,427

14,490

15,917

Eliminated on disposal

(145,504)

(131,703)

(277,207)

At 31 December 2024

-

-

-

Carrying amount

At 31 December 2024

-

-

-

At 31 December 2023

2,726

128,810

131,536

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

-

450,417

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

215,143

470,371

Amounts owed by group undertakings

11

-

230,038

Prepayments

 

-

16,561

Other debtors

 

-

126,325

   

215,143

843,295

 

B D C Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

39,938

Trade creditors

 

86,333

222,506

Amounts owed to group undertakings

11

642,684

-

Taxation and social security

 

147,306

171,226

Accruals and deferred income

 

10,800

12,126

Other creditors

 

923

1,894

 

888,046

447,690


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £39,732).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

44,304


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2022 - £44,034).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

80

80

80

80

       
 

B D C Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

44,304

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

39,732

Other borrowings

-

206

-

39,938

10

Obligations under leases and hire purchase contracts

Hire purchase contracts

The amounts outstanding on hire purchase contracts are secured upon the assets to which the contract relates.

The aggregate amount of secured liabilities is the total of future minimum hire payments, and is as follows:

2024
£

2023
£

Not later than one year

-

39,733

Later than one year and not later than five years

-

44,304

-

84,037

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

-

108,000

Later than one year and not later than five years

-

432,000

Later than five years

-

27,000

-

567,000

 

B D C Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

11

Related party transactions

Directors' remuneration

The Directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

85,450

134,905

Contributions paid to money purchase schemes

6,000

39,502

91,450

174,407

The company has taken advantage of the exemption in section 33 of FRS102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.

12

Parent and ultimate parent undertaking

The Company's immediate parent is McArthur Agriculture Ltd, incorporated in United Kingdom.

 The most senior parent entity producing publicly available financial statements is McArthur Agriculture Ltd. These financial statements are available upon request from the registered office of the Parent Company as follows:

McArthur Agriculture Ltd,
Bellwin Drive,
Flixborough,
Scunthorpe,
England,
DN15 8SN.