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REGISTERED NUMBER: 00745266 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Besleys (Merthyr Tydfil) Limited

Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Besleys (Merthyr Tydfil) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J O Besley
C N Besley
Mrs D L Watkins
Mrs M Besley
M J Besley
Mrs J C Thorrington





SECRETARY: Mrs D L Watkins





REGISTERED OFFICE: Unit 19
Pant Industrial Estate
Dowlais
Merthyr Tydfil
CF48 2SR





REGISTERED NUMBER: 00745266 (England and Wales)





ACCOUNTANTS: DGL Accountancy Services Limited
Chartered Certified Accountants
35 Hen Parc Avenue
Upper Killay
Swansea
SA2 7HA

Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,015,388 903,806
Investments 5 109,999 109,999
Investment property 6 390,000 390,000
1,515,387 1,403,805

CURRENT ASSETS
Stocks 1,157,449 1,142,069
Debtors 7 874,111 965,704
Cash at bank and in hand 3,231,441 3,116,064
5,263,001 5,223,837
CREDITORS
Amounts falling due within one year 8 1,042,957 1,105,158
NET CURRENT ASSETS 4,220,044 4,118,679
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,735,431

5,522,484

PROVISIONS FOR LIABILITIES 10 43,116 52,151
NET ASSETS 5,692,315 5,470,333

Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 6,314 6,416
Capital redemption reserve 102 -
Other reserves 6,499 6,499
Fair value reserve 11 115,000 115,000
Retained earnings 5,564,400 5,342,418
5,692,315 5,470,333

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

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

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 9 November 2023 and were signed on its behalf by:





Mrs D L Watkins - Director


Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)

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

1. STATUTORY INFORMATION

Besleys (Merthyr Tydfil) 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 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.
Freehold property - not provided
Improvements to property - not provided
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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
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.


Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2022 - 48 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 603,688 27,801 358,960 506,668 1,497,117
Additions - - 5,940 190,422 196,362
Disposals - - - (160,450 ) (160,450 )
At 31 March 2023 603,688 27,801 364,900 536,640 1,533,029
DEPRECIATION
At 1 April 2022 - - 247,704 345,607 593,311
Charge for year - - 17,789 36,723 54,512
Eliminated on disposal - - - (130,182 ) (130,182 )
At 31 March 2023 - - 265,493 252,148 517,641
NET BOOK VALUE
At 31 March 2023 603,688 27,801 99,407 284,492 1,015,388
At 31 March 2022 603,688 27,801 111,256 161,061 903,806

Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)

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

4. TANGIBLE FIXED ASSETS - continued

The net book value of tangible fixed assets held under hire purchase at 31 March 2023 was £Nil (2022 : £63,260). The depreciation provided on these assets in the year was £Nil (2022 : £21,088).

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.23 31.3.22
£    £   
Unlisted Investment 109,999 109,999

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 390,000
NET BOOK VALUE
At 31 March 2023 390,000
At 31 March 2022 390,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 115,000
Cost 275,000
390,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 867,502 960,417
Other debtors 6,609 5,287
874,111 965,704

Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts - 15,780
Trade creditors 795,198 572,493
Taxation and social security 227,237 348,046
Other creditors 20,522 168,839
1,042,957 1,105,158

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts - 15,780

The Bank hold security over Unit 23, Pant Industrial Estate, Dowlais, Merthyr Tydfil, CF48 2SR.
The loans in respect of hire purchase contracts are secured against the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 43,116 52,151

Deferred
tax
£   
Balance at 1 April 2022 52,151
Credit to Income Statement during year (9,035 )
Balance at 31 March 2023 43,116

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 115,000

12. RELATED PARTY DISCLOSURES

Included in other creditors are balances owed to the directors amounting to £9,290 ( 2022 : £155,750). The loans are not accruing any interest and have no fixed repayment terms.

Besleys (Merthyr Tydfil) Limited (Registered number: 00745266)

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

13. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, the ultimate controlling parties are any shareholders who when combined hold a majority of the voting share capital.