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REGISTERED NUMBER: 05498853 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

MW & RF Brewster & Sons Limited

MW & RF Brewster & Sons Limited (Registered number: 05498853)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5

Chartered Accountants' Report 9

MW & RF Brewster & Sons Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: S R Brewster
W P Brewster





SECRETARY: S R Brewster





REGISTERED OFFICE: Unit 8 Progress Works
Engine Shed Lane
Skipton
North Yorkshire
BD23 1UP





REGISTERED NUMBER: 05498853 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

MW & RF Brewster & Sons Limited (Registered number: 05498853)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 250,379 198,893
Investment property 5 910,000 1,075,000
1,160,379 1,273,893

CURRENT ASSETS
Stocks 140,581 136,305
Debtors 6 394,129 420,366
Cash at bank 394,193 208,930
928,903 765,601
CREDITORS
Amounts falling due within one year 7 (245,051 ) (170,401 )
NET CURRENT ASSETS 683,852 595,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,844,231

1,869,093

CREDITORS
Amounts falling due after more than one
year

8

(468,886

)

(519,427

)

PROVISIONS FOR LIABILITIES 9 (66,350 ) (49,878 )
NET ASSETS 1,308,995 1,299,788

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,308,993 1,299,786
SHAREHOLDERS' FUNDS 1,308,995 1,299,788

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

MW & RF Brewster & Sons Limited (Registered number: 05498853)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

MW & RF Brewster & Sons Limited (Registered number: 05498853)

Balance Sheet - continued
31 May 2023



The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





S R Brewster - Director


MW & RF Brewster & Sons Limited (Registered number: 05498853)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

MW & RF Brewster & Sons Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MW & RF Brewster & Sons Limited (Registered number: 05498853)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Operating leases
Property rents receivable less related expenses are accounted for on a straight line basis over the period of each lease, and are included within other operating income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 73,017 140,028 1,548 183,290 397,883
Additions - 62,173 - 50,866 113,039
Disposals - (19,500 ) - (56,550 ) (76,050 )
At 31 May 2023 73,017 182,701 1,548 177,606 434,872
DEPRECIATION
At 1 June 2022 1,460 77,689 511 119,330 198,990
Charge for year 1,461 17,734 511 26,421 46,127
Eliminated on disposal - (13,218 ) - (47,406 ) (60,624 )
At 31 May 2023 2,921 82,205 1,022 98,345 184,493
NET BOOK VALUE
At 31 May 2023 70,096 100,496 526 79,261 250,379
At 31 May 2022 71,557 62,339 1,037 63,960 198,893

MW & RF Brewster & Sons Limited (Registered number: 05498853)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2022
and 31 May 2023 16,680
DEPRECIATION
At 1 June 2022 4,170
Charge for year 3,128
At 31 May 2023 7,298
NET BOOK VALUE
At 31 May 2023 9,382
At 31 May 2022 12,510

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,075,000
Disposals (165,000 )
At 31 May 2023 910,000
NET BOOK VALUE
At 31 May 2023 910,000
At 31 May 2022 1,075,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2022 129,686
Cost 780,314
910,000

If investment property had not been revalued it would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 945,314 945,314

Investment property was valued on an open market basis on 31 May 2022 by the directors .

Freehold properties of the company are held for their investment potential. The directors believe the valuation of the Freehold Property at the balance sheet date reflects the open market value.

MW & RF Brewster & Sons Limited (Registered number: 05498853)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 34,008 31,212
Amounts owed by group undertakings 360,121 373,265
Other debtors - 15,889
394,129 420,366

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 46,815 45,923
Hire purchase contracts 11,359 12,751
Trade creditors 61,192 52,900
Tax 24,382 -
Social security and other taxes 9,518 11,902
VAT 42,652 39,638
Other creditors 288 822
Directors' current accounts 46,845 4,465
Accrued expenses 2,000 2,000
245,051 170,401

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 1-5 years 192,450 209,481
Bank loans > 5 years 154,648 176,798
Other Loan 112,500 112,500
Hire purchase contracts 9,288 20,648
468,886 519,427

Amounts falling due in more than five years:

Repayable by instalments
Other Loan 112,500 112,500

9. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 66,350 49,878

Deferred
tax
£   
Balance at 1 June 2022 49,878
Charge to Statement of Income and Retained Earnings during year 16,472
Balance at 31 May 2023 66,350

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MW & RF Brewster & Sons Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MW & RF Brewster & Sons Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MW & RF Brewster & Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MW & RF Brewster & Sons Limited and state those matters that we have agreed to state to the Board of Directors of MW & RF Brewster & Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MW & RF Brewster & Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MW & RF Brewster & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MW & RF Brewster & Sons Limited. You consider that MW & RF Brewster & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MW & RF Brewster & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


10 October 2023