Company registration number 04681915 (England and Wales)
BRIAN WHINCUP & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
BRIAN WHINCUP & SONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BRIAN WHINCUP & SONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,059,922
697,122
Current assets
Stocks
4,000
4,000
Debtors
5
174,341
106,059
Cash at bank and in hand
282
14,352
178,623
124,411
Creditors: amounts falling due within one year
6
(376,355)
(321,605)
Net current liabilities
(197,732)
(197,194)
Total assets less current liabilities
862,190
499,928
Creditors: amounts falling due after more than one year
7
(423,274)
(304,540)
Provisions for liabilities
(153,081)
(92,770)
Net assets
285,835
102,618
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
285,735
102,518
Total equity
285,835
102,618

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 year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 year 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.

BRIAN WHINCUP & SONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 August 2023 and are signed on its behalf by:
Mr T Whincup
Mrs D J Whincup
Director
Director
Mr J B Whincup
Mr B B Whincup
Director
Director
Company Registration No. 04681915
BRIAN WHINCUP & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Brian Whincup & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leeming Lane, Kirby Hill, Boroughbridge, York, North Yorkshire, YO51 9JP.

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 principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

The turnover of the company is primarily derived from haulage contracts. Turnover is recognised when services have been rendered.

1.3
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its remaining estimated useful economic life of 5 years.

1.4
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:

Land and buildings Freehold
2% straight line
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
10% reducing balance
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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is comprise d direct materials.

BRIAN WHINCUP & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
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.

1.7
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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.

BRIAN WHINCUP & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
1.10
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.

1.11
Retirement benefits

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

1.12
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 profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.13
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Employees
2023
2022
Number
Number
Total
8
7
BRIAN WHINCUP & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
15,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
15,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
370,207
900,412
1,270,619
Additions
-
0
508,715
508,715
Disposals
-
0
(1,400)
(1,400)
At 31 March 2023
370,207
1,407,727
1,777,934
Depreciation and impairment
At 1 April 2022
44,166
529,331
573,497
Depreciation charged in the year
7,404
137,173
144,577
Eliminated in respect of disposals
-
0
(62)
(62)
At 31 March 2023
51,570
666,442
718,012
Carrying amount
At 31 March 2023
318,637
741,285
1,059,922
At 31 March 2022
326,041
371,081
697,122
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
170,245
97,250
Other debtors
4,096
8,809
174,341
106,059
BRIAN WHINCUP & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
24,377
21,459
Obligations under finance leases
111,760
63,990
Trade creditors
27,727
20,155
Taxation and social security
20,487
36,695
Other creditors
188,394
177,247
Accruals and deferred income
3,610
2,059
376,355
321,605

Obligations under finance leases are secured by fixed charges on the assets concerned.

The company has an overdraft facility which is secured by a personal guarantee given by the directors, Mrs D J Whincup, Mr J B Whincup, Mr T D Whincup and Mr B B Whincup.

The company has a mortgage facility which is secured by a fixed and floating charge over all the property and any undertaking of the business.

7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
209,650
224,686
Obligations under finance leases
213,624
79,854
423,274
304,540

Obligations under finance leases are secured by fixed charges on the assets concerned.

The bank loans and overdrafts balance represents a mortgage facility which is secured by a fixed and floating charge over all the property and any undertaking of the business.

Amounts included above which fall due after five years are as follows:
Payable by instalments
149,990
153,641
2023-03-31 2022-04-01 false 31 August 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity Mr T Whincup Mrs D J Whincup Mr J B Whincup Mr B B Whincup Mrs D J Whincup 04681915 2022-04-01 2023-03-31 04681915 2023-03-31 04681915 2022-03-31 04681915 core:LandBuildings 2023-03-31 04681915 core:OtherPropertyPlantEquipment 2023-03-31 04681915 core:LandBuildings 2022-03-31 04681915 core:OtherPropertyPlantEquipment 2022-03-31 04681915 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04681915 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 04681915 core:CurrentFinancialInstruments 2023-03-31 04681915 core:CurrentFinancialInstruments 2022-03-31 04681915 core:Non-currentFinancialInstruments 2023-03-31 04681915 core:Non-currentFinancialInstruments 2022-03-31 04681915 core:ShareCapital 2023-03-31 04681915 core:ShareCapital 2022-03-31 04681915 core:RetainedEarningsAccumulatedLosses 2023-03-31 04681915 core:RetainedEarningsAccumulatedLosses 2022-03-31 04681915 bus:Director1 2022-04-01 2023-03-31 04681915 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 04681915 bus:Director3 2022-04-01 2023-03-31 04681915 bus:Director4 2022-04-01 2023-03-31 04681915 core:Goodwill 2022-04-01 2023-03-31 04681915 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04681915 core:PlantMachinery 2022-04-01 2023-03-31 04681915 core:FurnitureFittings 2022-04-01 2023-03-31 04681915 core:MotorVehicles 2022-04-01 2023-03-31 04681915 2021-04-01 2022-03-31 04681915 core:NetGoodwill 2022-03-31 04681915 core:NetGoodwill 2023-03-31 04681915 core:NetGoodwill 2022-03-31 04681915 core:LandBuildings 2022-03-31 04681915 core:OtherPropertyPlantEquipment 2022-03-31 04681915 2022-03-31 04681915 core:LandBuildings 2022-04-01 2023-03-31 04681915 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 04681915 core:WithinOneYear 2023-03-31 04681915 core:WithinOneYear 2022-03-31 04681915 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04681915 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04681915 bus:FRS102 2022-04-01 2023-03-31 04681915 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04681915 bus:Director2 2022-04-01 2023-03-31 04681915 bus:CompanySecretary1 2022-04-01 2023-03-31 04681915 bus:FullAccounts 2022-04-01 2023-03-31 xbrli:pure xbrli:shares iso4217:GBP