Registration number: 03714206

Bearing Supplies (Norwich) Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Bearing Supplies (Norwich) Ltd

Company Information

Director

Mrs Sarah Jane Clarke

Registered office

Market House Church Road Harleston Norfolk IP20 9BB

Bearing Supplies (Norwich) Ltd

(Registration number: 03714206)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	226,175	224,210
Current assets
Stocks	6	355,350	377,135
Debtors	7	109,333	96,878
Cash at bank and in hand		202,387	115,384
		667,070	589,397
Creditors: Amounts falling due within one year	8	(102,473)	(62,605)
Net current assets		564,597	526,792
Net assets		790,772	751,002
Capital and reserves
Called up share capital		5	5
Retained earnings		790,767	750,997
Shareholders' funds		790,772	751,002

For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 October 2026
 

......................................... Mrs Sarah Jane Clarke Director

Bearing Supplies (Norwich) Ltd

Notes to the Unaudited Financial Statements for the year ended 28 February 2026

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:
Market House
Church Road
Harleston
Norfolk
IP20 9BB

These financial statements were authorised for issue by the director on 8 October 2026.

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.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

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 turnover 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.

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 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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Bearing Supplies (Norwich) Ltd

Notes to the Unaudited Financial Statements for the year ended 28 February 2026

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:

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.

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 stocks 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. Trade creditors 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.

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.

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 the director) during the year, was 8 (2025 - 8).

4

Taxation

Tax charged/(credited) in the profit and loss account

Bearing Supplies (Norwich) Ltd

Notes to the Unaudited Financial Statements for the year ended 28 February 2026

	2026 £	2025 £
Current taxation
UK corporation tax	26,805	12,422

Bearing Supplies (Norwich) Ltd

Notes to the Unaudited Financial Statements for the year ended 28 February 2026

5	Tangible assets

	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 March 2025	178,031	44,087	166,368	388,486
Additions	1,198	1,494	77,351	80,043
Disposals	-	-	(62,334)	(62,334)
At 28 February 2026	179,229	45,581	181,385	406,195
Depreciation
At 1 March 2025	125,132	8,692	30,452	164,276
Charge for the year	7,935	5,309	22,500	35,744
Eliminated on disposal	-	-	(20,000)	(20,000)
At 28 February 2026	133,067	14,001	32,952	180,020
Carrying amount
At 28 February 2026	46,162	31,580	148,433	226,175
At 28 February 2025	52,899	35,395	135,916	224,210

6

Stocks

	2026 £	2025 £
Raw materials and consumables	355,350	377,135

7

Debtors

Current	2026 £	2025 £
Trade debtors	98,745	96,878
Prepayments	8,937	-
Other debtors	1,651	-
	109,333	96,878

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	45,947	38,954
Taxation and social security	49,920	19,357
Accruals and deferred income	3,490	3,490
Other creditors	3,116	804
	102,473	62,605