Company Registration No. 15191916 (England and Wales)
BULKGEAR ENGINEERING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
BULKGEAR ENGINEERING LIMITED
COMPANY INFORMATION
Directors
Mr J I Sage
Mrs S M Sage
Company number
15191916
Registered office
21 Bampton Street
Tiverton
Devon
EX16 6AA
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
Business address
Longbridge Meadow
Cullompton
Devon
EX15 1BT
BULKGEAR ENGINEERING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BULKGEAR ENGINEERING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
3
51,000
68,000
Tangible assets
4
39,610
36,280
90,610
104,280
Current assets
Stocks
70,587
41,602
Debtors
5
166,495
118,067
Cash at bank and in hand
71,381
171,087
308,463
330,756
Creditors: amounts falling due within one year
6
(257,239)
(323,992)
Net current assets
51,224
6,764
Total assets less current liabilities
141,834
111,044
Creditors: amounts falling due after more than one year
7
(6,861)
(10,584)
Net assets
134,973
100,460
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
134,971
100,458
Total equity
134,973
100,460

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

BULKGEAR ENGINEERING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 May 2026 and are signed on its behalf by:
Mr J I Sage
Director
Company Registration No. 15191916
BULKGEAR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Bulkgear Engineering Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cos t, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
5 year straight line
Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Computers
3 years straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks and work in progress are stated at the lower of cost and net realisable value.

BULKGEAR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account on a straight line basis over the life of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was 6 (2024 - 4).

BULKGEAR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
85,000
Amortisation and impairment
At 1 January 2025
17,000
Amortisation charged for the Period
17,000
At 31 December 2025
34,000
Carrying amount
At 31 December 2025
51,000
At 31 December 2024
68,000
BULKGEAR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 January 2025
-
0
7,159
16,466
1,627
1,147
19,213
45,612
Additions
-
0
-
0
8,550
671
4,824
-
0
14,045
At 31 December 2025
-
0
7,159
25,016
2,298
5,971
19,213
59,657
Depreciation and impairment
At 1 January 2025
-
0
1,432
2,470
244
383
4,803
9,332
Depreciation charged in the Period
1,432
-
0
3,382
308
1,991
3,602
10,715
At 31 December 2025
1,432
1,432
5,852
552
2,374
8,405
20,047
Carrying amount
At 31 December 2025
(1,432)
5,727
19,164
1,746
3,597
10,808
39,610
At 31 December 2024
-
0
5,727
13,996
1,267
880
14,410
36,280
BULKGEAR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
162,751
111,668
Other debtors
-
0
3,281
Prepayments and accrued income
3,744
3,118
166,495
118,067
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
10,000
Trade creditors
86,388
48,474
Corporation tax
60,620
50,383
Other taxation and social security
27,238
23,851
Other creditors
82,993
191,284
257,239
323,992
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
5,000
5,000
Other creditors
1,861
5,584
6,861
10,584
8
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary A of £1 each
1
1
1 Ordinary B of £1 each
1
1
2
2
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