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BROMLEY TIMBER AND BUILDERS MERCHANT LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023






BROMLEY TIMBER AND BUILDERS MERCHANT LTD (REGISTERED NUMBER: 07716436)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BROMLEY TIMBER AND BUILDERS MERCHANT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: T Labbadia
D Hutton
P Salvage





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 07716436 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

BROMLEY TIMBER AND BUILDERS MERCHANT LTD (REGISTERED NUMBER: 07716436)

BALANCE SHEET
31ST JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 185,843 193,226

CURRENT ASSETS
Stocks 5 227,822 274,882
Debtors 6 423,045 379,423
Cash at bank and in hand 396,738 474,824
1,047,605 1,129,129
CREDITORS
Amounts falling due within one year 7 307,038 363,453
NET CURRENT ASSETS 740,567 765,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

926,410

958,902

CREDITORS
Amounts falling due after more than one
year

8

-

(15,663

)

PROVISIONS FOR LIABILITIES (35,054 ) (36,713 )
NET ASSETS 891,356 906,526

CAPITAL AND RESERVES
Called up share capital 9 3 3
Retained earnings 10 891,353 906,523
SHAREHOLDERS' FUNDS 891,356 906,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BROMLEY TIMBER AND BUILDERS MERCHANT LTD (REGISTERED NUMBER: 07716436)

BALANCE SHEET - continued
31ST JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st October 2023 and were signed on its behalf by:





D Hutton - Director


BROMLEY TIMBER AND BUILDERS MERCHANT LTD (REGISTERED NUMBER: 07716436)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Bromley Timber And Builders Merchant Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - not provided
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BROMLEY TIMBER AND BUILDERS MERCHANT LTD (REGISTERED NUMBER: 07716436)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st August 2022 7,310 103,926 353,090 8,389 472,715
Additions 13,262 27,426 - - 40,688
Disposals - (11,500 ) (62,400 ) - (73,900 )
At 31st July 2023 20,572 119,852 290,690 8,389 439,503
DEPRECIATION
At 1st August 2022 7,310 63,163 201,320 7,696 279,489
Charge for year 1,326 14,172 22,343 693 38,534
Eliminated on disposal - (6,648 ) (57,715 ) - (64,363 )
At 31st July 2023 8,636 70,687 165,948 8,389 253,660
NET BOOK VALUE
At 31st July 2023 11,936 49,165 124,742 - 185,843
At 31st July 2022 - 40,763 151,770 693 193,226

5. STOCKS
31.7.23 31.7.22
£    £   
Stocks 227,822 274,882

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 355,013 341,166
Directors' current accounts 3 3
Prepayments 68,029 38,254
423,045 379,423

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 15,663 34,481
Trade creditors 199,697 238,305
Tax 44,221 41,406
VAT 45,609 47,481
Other creditors 1,648 1,673
Accrued expenses 200 107
307,038 363,453

BROMLEY TIMBER AND BUILDERS MERCHANT LTD (REGISTERED NUMBER: 07716436)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts - 15,663

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
30 Ordinary 10p shares 10p 3 3

10. RESERVES
Retained
earnings
£   

At 1st August 2022 906,523
Profit for the year 152,830
Dividends (168,000 )
At 31st July 2023 891,353