Registered number
06965123
Bradvent Supply Services Limited
Unaudited Filleted Accounts
31 August 2023
Bradvent Supply Services Limited
Registered number: 06965123
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,994 5,555
Current assets
Debtors 4 209,796 301,264
Cash at bank and in hand 50,258 8,022
260,054 309,286
Creditors: amounts falling due within one year 5 (105,755) (122,878)
Net current assets 154,299 186,408
Total assets less current liabilities 158,293 191,963
Creditors: amounts falling due after more than one year 6 (18,333) (28,333)
Provisions for liabilities (758) (1,055)
Net assets 139,202 162,575
Capital and reserves
Called up share capital 100 100
Profit and loss account 139,102 162,475
Shareholders' funds 139,202 162,575
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Johnson
Director
Approved by the board on 16 October 2023
Bradvent Supply Services Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to leasehold premises over the lease term
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 4 years
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Improvements to leasehold premises Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 40,969 36,473 16,000 93,442
At 31 August 2023 40,969 36,473 16,000 93,442
Depreciation
At 1 September 2022 40,969 35,980 10,938 87,887
Charge for the year - 295 1,266 1,561
At 31 August 2023 40,969 36,275 12,204 89,448
Net book value
At 31 August 2023 - 198 3,796 3,994
At 31 August 2022 - 493 5,062 5,555
4 Debtors 2023 2022
£ £
Trade debtors 19,761 30,795
Work in progess 163,684 247,905
Other debtors 26,351 22,564
209,796 301,264
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 101,262 116,817
Taxation and social security costs (17,819) (26,401)
Other creditors 12,312 22,462
105,755 122,878
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,333 28,333
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr J Johnson
Loans to directors (7,123) 34,377 (27,206) 48
Miss L Laxon-Savage
Loans to directors (3,401) 23,811 (20,405) 5
(10,524) 58,188 (47,611) 53
8 Related party transactions 2023 2022
£ £
Enterprise Ventilation Centre Limited
Enterprise Ventilation Centre Limited is owned equally by the three shareholders controlling this company.
Included in sales is a services recharge of £3,988 to cover joint overhead costs. Included in purchases are £109,867 of goods bought from Enterprise Ventilation Centre Limited.
Amount due (to) the related party (21,078) (15,534)
Bradvent Management Services Limited
Bradvent Management Services Limited is owned by two of the shareholders controlling this company.
Sales to this company during the year were £82,336.
Included in other debtors (2022: other creditors) are the amounts attributable to the Directors current accounts:
2023 2022
£ £
Mr J Johnson 48 (7,123)
Miss L Laxon-Savage 5 (3,401)
Mr D Rawson - (3,401)
53 (13,925)
9 Controlling party
The company is controlled by Mr J Johnson who owns 40%, Miss L Laxon-Savage and Mr D Rawson who own 30% each.
10 Other information
Bradvent Supply Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Enterprise House
Duncan Street
Bradford
West Yorkshire
BD5 7JS
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