Company Registration No. 6508596 (England and Wales)
BB PLASTICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
PAGES FOR FILING WITH REGISTRAR
BB PLASTICS LIMITED
COMPANY INFORMATION
Director
G D Smith
Company number
6508596
Registered office
Unit 5 Bowmans Trading Estate
Bessemer Drive
Stevenage
Herts
SG1 2DL
BB PLASTICS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BB PLASTICS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2021
28 February 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
2
11,250
15,000
Current assets
Stocks
690
470
Cash at bank and in hand
30,066
9,432
30,756
9,902
Creditors: amounts falling due within one year
3
(49,797)
(34,464)
Net current liabilities
(19,041)
(24,562)
Total assets less current liabilities
(7,791)
(9,562)
Capital and reserves
Called up share capital
4
9,700
9,700
Profit and loss reserves
(17,491)
(19,262)
Total equity
(7,791)
(9,562)
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 27 October 2021
G D Smith
Director
Company Registration No. 6508596
BB PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 2 -
1
Accounting policies
Company information
BB Plastics Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 5 Bowmans Trading Estate, Bessemer Drive, Stevenage, Herts, SG1 2DL.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
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
.
1.4
Stocks
Stocks
are stated at the lower of cost and
estimated selling price less costs to complete and sell. Cost 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.
1.5
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. Bank overdrafts are shown within borrowings in current liabilities.
BB PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 3 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 February 2020 and 28 February 2021
20,000
Depreciation and impairment
At 29 February 2020
5,000
Depreciation charged in the year
3,750
At 28 February 2021
8,750
Carrying amount
At 28 February 2021
11,250
At 28 February 2020
15,000
3
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
42,502
31,939
Other creditors
7,295
2,525
49,797
34,464
4
Called up share capital
2021
2020
£
£
Ordinary share capital
Authorised
10,000 Ordinary shares of £1 each
10,000
10,000
Issued and fully paid
9,700 Ordinary shares of £1 each
9,700
9,700