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Registration number: 02228835

Brooker Mouldings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Brooker Mouldings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Brooker Mouldings Limited

Company Information

Directors

Mr N M Brooker

Mr D J Brooker

Miss N L Brooker

Mrs E J Brooker

Registered office

Unit 4
Vickers Business Centre
Priestley Road
Basingstoke
Hampshire
RG24 9NP

Accountants

ASL Accountants
15 Millers Way
Houghton Regis
Dunstable
Bedfordshire
LU5 5FH

 

Brooker Mouldings Limited

(Registration number: 02228835)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

49,913

67,658

Current assets

 

Stocks

6

30,645

21,390

Debtors

7

76,085

78,437

Cash at bank and in hand

 

115,421

110,473

 

222,151

210,300

Creditors: Amounts falling due within one year

8

(54,975)

(55,874)

Net current assets

 

167,176

154,426

Total assets less current liabilities

 

217,089

222,084

Creditors: Amounts falling due after more than one year

8

(14,754)

(21,973)

Provisions for liabilities

(9,483)

(12,855)

Net assets

 

192,852

187,256

Capital and reserves

 

Called up share capital

100

100

Retained earnings

192,752

187,156

Shareholders' funds

 

192,852

187,256

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.

 

Brooker Mouldings Limited

(Registration number: 02228835)
Balance Sheet as at 31 March 2023

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

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.

Approved and authorised by the Board on 29 August 2023 and signed on its behalf by:
 

.........................................
Mr D J Brooker
Director

   
     
 

Brooker Mouldings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Unit 4
Vickers Business Centre
Priestley Road
Basingstoke
Hampshire
RG24 9NP
United Kingdom

These financial statements were authorised for issue by the Board on 29 August 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Government grants

Grants received in respect of the Coronoviruus Job Retention Scheme are credited to the profit and loss account.

 

Brooker Mouldings Limited

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

2

Accounting policies (continued)

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.

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

Short term leasehold

10 years straight line

Plant & Machinery

25% reducing balance

Fixtures and fittings

25% straight line

Motor Vehicles

25% straight line

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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

 

Brooker Mouldings Limited

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

2

Accounting policies (continued)

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under hire purchase or finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Hire purchase and lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 6 (2022 - 6).

 

Brooker Mouldings Limited

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

4

Taxation

Tax charged/(credited) in the income statement

2023
£

2022
£

Current taxation

UK corporation tax

16,413

15,526

Deferred taxation

Arising from origination and reversal of timing differences

(3,372)

(1,510)

Tax expense in the income statement

13,041

14,016

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

9,976

3,967

19,395

311,311

344,649

Disposals

-

-

-

(2,250)

(2,250)

At 31 March 2023

9,976

3,967

19,395

309,061

342,399

Depreciation

At 1 April 2022

9,976

3,967

19,395

243,653

276,991

Charge for the year

-

-

-

17,745

17,745

Eliminated on disposal

-

-

-

(2,250)

(2,250)

At 31 March 2023

9,976

3,967

19,395

259,148

292,486

Carrying amount

At 31 March 2023

-

-

-

49,913

49,913

At 31 March 2022

-

-

-

67,658

67,658

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

 

Brooker Mouldings Limited

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

6

Stocks

2023
£

2022
£

Other inventories

30,645

21,390

7

Debtors

2023
£

2022
£

Trade debtors

73,860

76,212

Other debtors

2,225

2,225

76,085

78,437

 

Brooker Mouldings Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

7,219

6,905

Trade creditors

 

19,266

23,439

Social security and other taxes

 

9,192

8,203

Other payables

 

1,085

-

Accruals

 

1,800

1,800

Corporation tax liability

16,413

15,527

 

54,975

55,874

Due after one year

 

Loans and borrowings

9

14,754

21,973

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

14,754

21,973

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

14,754

21,973

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

7,219

6,905

 

Brooker Mouldings Limited

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

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £91,824 (2022 - £122,432). The company on 1st April 2021 entered into a new five year lease for the premises it occupies at £30,608 pa, this had previously been provided for under a monthly licence.