Silverfin false 31/03/2023 01/04/2022 31/03/2023 A G Matthews 09/03/2007 H St.J Matthews 09/03/2007 A G Matthews 24 October 2023 The principal activity of the Company during the financial year was repairs to motor vehicles. 06149495 2023-03-31 06149495 bus:Director1 2023-03-31 06149495 bus:Director2 2023-03-31 06149495 2022-03-31 06149495 core:CurrentFinancialInstruments 2023-03-31 06149495 core:CurrentFinancialInstruments 2022-03-31 06149495 core:ShareCapital 2023-03-31 06149495 core:ShareCapital 2022-03-31 06149495 core:RetainedEarningsAccumulatedLosses 2023-03-31 06149495 core:RetainedEarningsAccumulatedLosses 2022-03-31 06149495 core:Goodwill 2022-03-31 06149495 core:Goodwill 2023-03-31 06149495 core:OtherPropertyPlantEquipment 2022-03-31 06149495 core:OtherPropertyPlantEquipment 2023-03-31 06149495 2021-03-31 06149495 core:WithinOneYear 2023-03-31 06149495 core:WithinOneYear 2022-03-31 06149495 core:BetweenOneFiveYears 2023-03-31 06149495 core:BetweenOneFiveYears 2022-03-31 06149495 core:MoreThanFiveYears 2023-03-31 06149495 core:MoreThanFiveYears 2022-03-31 06149495 2022-04-01 2023-03-31 06149495 bus:FullAccounts 2022-04-01 2023-03-31 06149495 bus:SmallEntities 2022-04-01 2023-03-31 06149495 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06149495 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06149495 bus:Director1 2022-04-01 2023-03-31 06149495 bus:Director2 2022-04-01 2023-03-31 06149495 bus:CompanySecretary1 2022-04-01 2023-03-31 06149495 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 06149495 core:Goodwill 2022-04-01 2023-03-31 06149495 core:OtherPropertyPlantEquipment core:BottomRangeValue 2022-04-01 2023-03-31 06149495 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 06149495 2021-04-01 2022-03-31 06149495 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 06149495 (England and Wales)

GREIG & ALLEN (BRIDPORT) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

GREIG & ALLEN (BRIDPORT) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

GREIG & ALLEN (BRIDPORT) LIMITED

BALANCE SHEET

As at 31 March 2023
GREIG & ALLEN (BRIDPORT) LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 9,181 14,264
9,181 14,264
Current assets
Stocks 1,319 1,187
Debtors 5 25,630 25,060
Cash at bank and in hand 169,594 140,407
196,543 166,654
Creditors: amounts falling due within one year 6 ( 67,941) ( 64,206)
Net current assets 128,602 102,448
Total assets less current liabilities 137,783 116,712
Provision for liabilities 7 ( 1,742) ( 2,263)
Net assets 136,041 114,449
Capital and reserves
Called-up share capital 100 100
Profit and loss account 135,941 114,349
Total shareholders' funds 136,041 114,449

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Greig & Allen (Bridport) Limited (registered number: 06149495) were approved and authorised for issue by the Director on 24 October 2023. They were signed on its behalf by:

A G Matthews
Director
H St.J Matthews
Director
GREIG & ALLEN (BRIDPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
GREIG & ALLEN (BRIDPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Greig & Allen (Bridport) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendford Manor, Yeovil, Somerset, BA20 1UN, United Kingdom. The principal place of business is Unit 22, Dreadnought Trading Estate, Bridport, Dorset, DT6 5BU.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 9

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 61,176 61,176
At 31 March 2023 61,176 61,176
Accumulated amortisation
At 01 April 2022 61,176 61,176
At 31 March 2023 61,176 61,176
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 99,976 99,976
At 31 March 2023 99,976 99,976
Accumulated depreciation
At 01 April 2022 85,712 85,712
Charge for the financial year 5,083 5,083
At 31 March 2023 90,795 90,795
Net book value
At 31 March 2023 9,181 9,181
At 31 March 2022 14,264 14,264

5. Debtors

2023 2022
£ £
Trade debtors 15,592 17,329
Other debtors 10,038 7,731
25,630 25,060

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 32,198 34,216
Taxation and social security 30,987 24,070
Other creditors 4,756 5,920
67,941 64,206

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 2,263) ( 1,079)
Credited/(charged) to the Profit and Loss Account 521 ( 1,184)
At the end of financial year ( 1,742) ( 2,263)

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 10,302 10,302
between one and five years 40,227 2,196
after five years 19,167 0
69,696 12,498