IRIS Accounts Production v23.3.0.418 06485564 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064855642022-03-31064855642023-03-31064855642022-04-012023-03-31064855642021-03-31064855642021-04-012022-03-31064855642022-03-3106485564ns10:Originalns15:EnglandWales2022-04-012023-03-3106485564ns14:PoundSterlingns10:Original2022-04-012023-03-3106485564ns10:Originalns10:Director12022-04-012023-03-3106485564ns10:Original2022-04-012023-03-3106485564ns10:Original2023-03-3106485564ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3106485564ns10:Originalns10:SmallEntities2022-04-012023-03-3106485564ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3106485564ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106485564ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3106485564ns10:Originalns10:FullAccounts2022-04-012023-03-3106485564ns10:Original12022-04-012023-03-3106485564ns10:Originalns10:Director22022-04-012023-03-3106485564ns10:Originalns10:RegisteredOffice2022-04-012023-03-3106485564ns10:Original2022-03-3106485564ns10:Originalns5:CurrentFinancialInstruments2023-03-3106485564ns10:Originalns5:CurrentFinancialInstruments2022-03-3106485564ns10:Originalns5:Non-currentFinancialInstruments2023-03-3106485564ns10:Originalns5:Non-currentFinancialInstruments2022-03-3106485564ns5:ShareCapitalns10:Original2023-03-3106485564ns5:ShareCapitalns10:Original2022-03-3106485564ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3106485564ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3106485564ns10:Originalns5:NetGoodwill2022-04-012023-03-3106485564ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3106485564ns10:Originalns5:PlantMachinery2022-04-012023-03-3106485564ns10:Originalns5:FurnitureFittings2022-04-012023-03-3106485564ns10:Originalns5:MotorVehicles2022-04-012023-03-3106485564ns10:Originalns5:ComputerEquipment2022-04-012023-03-3106485564ns10:Original2021-04-012022-03-3106485564ns10:Originalns5:NetGoodwill2022-03-3106485564ns10:Originalns5:NetGoodwill2023-03-3106485564ns10:Originalns5:NetGoodwill2022-03-3106485564ns10:Originalns5:LandBuildings2022-03-3106485564ns10:Originalns5:PlantMachinery2022-03-3106485564ns10:Originalns5:FurnitureFittings2022-03-3106485564ns10:Originalns5:LandBuildings2022-04-012023-03-3106485564ns10:Originalns5:LandBuildings2023-03-3106485564ns10:Originalns5:PlantMachinery2023-03-3106485564ns10:Originalns5:FurnitureFittings2023-03-3106485564ns10:Originalns5:LandBuildings2022-03-3106485564ns10:Originalns5:PlantMachinery2022-03-3106485564ns10:Originalns5:FurnitureFittings2022-03-3106485564ns10:Originalns5:MotorVehicles2022-03-3106485564ns10:Originalns5:ComputerEquipment2022-03-3106485564ns10:Original2022-03-3106485564ns10:Originalns5:MotorVehicles2023-03-3106485564ns10:Originalns5:ComputerEquipment2023-03-3106485564ns10:Originalns5:MotorVehicles2022-03-3106485564ns10:Originalns5:ComputerEquipment2022-03-3106485564ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106485564ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3106485564ns5:Securedns10:Original2023-03-3106485564ns5:Securedns10:Original2022-03-31
REGISTERED NUMBER: 06485564 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Bully's Woodworks Limited

Bully's Woodworks Limited (Registered number: 06485564)






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


Bully's Woodworks Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C D Bull
J C Bull





REGISTERED OFFICE: Valley Mills
Wenning Street
Off Southfield Street
Nelson
Lancashire
BB9 0LE





REGISTERED NUMBER: 06485564 (England and Wales)





ACCOUNTANTS: Len Entwistle Chartered Accountants
Suite 12
Blackburn Business Centre
Davyfield Road
Blackburn
Lancashire
BB1 2QY

Bully's Woodworks Limited (Registered number: 06485564)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 794,276 696,996
794,276 696,996

CURRENT ASSETS
Stocks 14,592 20,496
Debtors 6 403,105 46,777
Prepayments and accrued income - 10,497
Cash at bank and in hand 417,104 769,940
834,801 847,710
CREDITORS
Amounts falling due within one year 7 246,210 367,845
NET CURRENT ASSETS 588,591 479,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,382,867

1,176,861

CREDITORS
Amounts falling due after more than one year 8 - (118,471 )

PROVISIONS FOR LIABILITIES (35,227 ) (54,175 )
NET ASSETS 1,347,640 1,004,215

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,347,540 1,004,115
SHAREHOLDERS' FUNDS 1,347,640 1,004,215

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.

Bully's Woodworks Limited (Registered number: 06485564)

Balance Sheet - continued
31 March 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 16 November 2023 and were signed on its behalf by:





C D Bull - Director


Bully's Woodworks Limited (Registered number: 06485564)

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

1. STATUTORY INFORMATION

Bully's Woodworks 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 20% on reducing balance

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.


Bully's Woodworks Limited (Registered number: 06485564)

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.

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 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 9,000
AMORTISATION
At 1 April 2022
and 31 March 2023 9,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Bully's Woodworks Limited (Registered number: 06485564)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 362,844 577,703 45,017
Additions 199,950 3,075 -
Disposals - (70,313 ) -
At 31 March 2023 562,794 510,465 45,017
DEPRECIATION
At 1 April 2022 - 354,059 37,970
Charge for year - 31,282 1,409
Eliminated on disposal - (25,313 ) -
At 31 March 2023 - 360,028 39,379
NET BOOK VALUE
At 31 March 2023 562,794 150,437 5,638
At 31 March 2022 362,844 223,644 7,047

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 198,642 33,937 1,218,143
Additions - 783 203,808
Disposals (9,986 ) - (80,299 )
At 31 March 2023 188,656 34,720 1,341,652
DEPRECIATION
At 1 April 2022 107,046 22,072 521,147
Charge for year 16,322 2,529 51,542
Eliminated on disposal - - (25,313 )
At 31 March 2023 123,368 24,601 547,376
NET BOOK VALUE
At 31 March 2023 65,288 10,119 794,276
At 31 March 2022 91,596 11,865 696,996

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 403,105 46,777

Bully's Woodworks Limited (Registered number: 06485564)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 6,627
Finance leases 14,630 28,349
Trade creditors 121,781 206,046
Taxation and social security 103,933 124,523
Other creditors 5,866 2,300
246,210 367,845

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 103,841
Finance leases - 14,630
- 118,471

Amounts falling due in more than five years:

Repayable by instalments
Mortgage more than 5 yrs - 77,333

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans - 110,468

The mortgage debt was secured over the property known as Valley Mills, Wenning Street, Off Southfield Street, Nelson, Lancashire, BB9 0LD