Registered number |
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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2021 | 2020 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Current assets | |||||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 6 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Creditors: amounts falling due after more than one year | 7 | ( |
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Net liabilities | ( |
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Capital and reserves | |||||||
Called up share capital |
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Profit and loss account | ( |
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Shareholders' funds | ( |
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J J Rodgman | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Intangible fixed assets | ||||||||
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Tangible fixed assets | ||||||||
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Plant and machinery | 20% straight line | |||||||
Fixtures, fittings, tools and equipment | 25% straight line, or 33% straight line | |||||||
Motor vehicles | 25% straight line | |||||||
Stocks | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Foreign currency translation | ||||||||
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Leased assets | ||||||||
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Pensions | ||||||||
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Grants | ||||||||
Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. | ||||||||
2 | Employees | 2021 | 2020 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Intangible fixed assets | £ | ||||||
Goodwill: | ||||||||
Cost | ||||||||
At 1 November 2020 |
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At 31 October 2021 |
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Amortisation | ||||||||
At 1 November 2020 |
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Provided during the year |
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At 31 October 2021 |
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Net book value | ||||||||
At 31 October 2021 |
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At 31 October 2020 |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. | ||||||||
4 | Tangible fixed assets | |||||||
Plant and machinery etc | Motor vehicles | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 November 2020 |
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Additions |
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At 31 October 2021 |
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Depreciation | ||||||||
At 1 November 2020 |
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- |
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Charge for the year |
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At 31 October 2021 |
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Net book value | ||||||||
At 31 October 2021 |
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At 31 October 2020 |
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5 | Debtors | 2021 | 2020 | |||||
£ | £ | |||||||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Deferred tax asset |
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Other debtors |
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6 | Creditors: amounts falling due within one year | 2021 | 2020 | |||||
£ | £ | |||||||
Bank loans and overdrafts |
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Obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Director's account | 261 | 261 | ||||||
Taxation and social security costs |
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Other creditors |
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Obligations under finance lease and hire purchase contracts are secured on the assets concerned. | ||||||||
7 | Creditors: amounts falling due after one year | 2021 | 2020 | |||||
£ | £ | |||||||
Bank loans |
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Obligations under finance lease and hire purchase contracts |
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8 | Loans | 2021 | 2020 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Instalments falling due for payment after more than five years | - | 3,500 | ||||||
9 | Related party transactions | |||||||
Group companies made loans and paid expenses on behalf of the company of £79. Repayments of £11,222 were made. The balance due to the group companies at the year end was £192,506 (2020: £203,622). This loan is interest free and repayable on demand. Trade Creditors of £96,283 related to group companies are disclosed in Amounts due to group companies. Trade Debtors of £35,301 due from group companies are disclosed in Amounts due from group companies. |
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10 | Going concern | |||||||
The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. Additionally not all events or conditions can be predicted with the event of the COVID 19 pandemic, which has brought with it additional unprecedented levels of uncertainty and the inability to assess fully, therefore, the impact of that on not only the company but also on the customers and suppliers it trades with. Budgets and cash flow projections compiled by the directors indicate that the company has sufficient reserves to continue to trade. The directors believe that support afforded, careful cashflow considerations and use of mitigating actions available, including furloughing of underutilised staff, is sufficient upon which to adopt the going concern basis. | ||||||||
11 | Controlling party | |||||||
The registered office address for Borehole Solutions Ltd is as follows: Sapphire Heights Courtyard 31 Tenby Street North Birmingham West Midlands B1 3ES |
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12 | Other information | |||||||
BSL Precision Engineering 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 |