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Registration number: 01976424

Bristol & West Preservations Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Bristol & West Preservations Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bristol & West Preservations Limited

Company Information

Directors

Mr Colin Trevor Bray

Mrs Denize Bray

Registered office

2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Bristol & West Preservations Limited

(Registration number: 01976424)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

         

Fixed assets

   

Tangible assets

4

 

6,615

1,429

Current assets

   

Stocks

5

109,042

 

28,096

Debtors

6

14,316

 

7,630

Cash at bank and in hand

 

29,996

 

67,157

 

153,354

 

102,883

Creditors: Amounts falling due within one year

7

(131,708)

 

(66,604)

Net current assets

   

21,646

36,279

Total assets less current liabilities

   

28,261

37,708

Creditors: Amounts falling due after more than one year

7

 

(20,833)

(30,833)

Provisions for liabilities

 

(1,292)

(307)

Net assets

   

6,136

6,568

Capital and reserves

   

Called up share capital

3,000

 

3,000

Capital redemption reserve

3,000

 

3,000

Profit and loss account

136

 

568

Total equity

   

6,136

6,568

 

Bristol & West Preservations Limited

(Registration number: 01976424)
Balance Sheet as at 30 April 2023

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................

Mr Colin Trevor Bray
Director

 

Bristol & West Preservations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
United Kingdom

These financial statements were authorised for issue by the Board on 16 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Bristol & West Preservations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

Straight line over the life of the lease

Plant and equipment

33% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Bristol & West Preservations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bristol & West Preservations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 7).

 

Bristol & West Preservations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Leasehold improvements
£

Plant and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

54,173

29,148

26,350

109,671

Additions

-

-

7,500

7,500

Disposals

-

-

(22,850)

(22,850)

At 30 April 2023

54,173

29,148

11,000

94,321

Depreciation

At 1 May 2022

54,173

27,719

26,350

108,242

Charge for the year

-

1,220

1,094

2,314

Eliminated on disposal

-

-

(22,850)

(22,850)

At 30 April 2023

54,173

28,939

4,594

87,706

Carrying amount

At 30 April 2023

-

209

6,406

6,615

At 30 April 2022

-

1,429

-

1,429

5

Stocks

2023
£

2022
£

Raw materials and consumables

1,000

1,000

Work in progress

108,042

27,096

109,042

28,096

6

Debtors

2023
£

2022
£

Trade debtors

2,266

5,761

Prepayments

856

600

Other debtors

11,194

1,269

14,316

7,630

 

Bristol & West Preservations Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

23

488

Taxation and social security

 

2,424

3,010

Accruals and deferred income

 

108,172

45,502

Other creditors

 

11,089

7,604

 

131,708

66,604

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

20,833

30,833

8

Related party transactions

The company was under the control of Mr C Bray and Mrs D Bray throughout the current year.

Mr C Bray and Mrs D Bray are the managing directors and majority shareholders

During the year Mr C Bray and Mrs D Bray maintained a loan account with the company. At the year end the company owed the directors £6,077 (2022: £2,717). There are no fixed repayment terms associated with this loan and no interest is charged on the outstanding amount.