Silverfin false 31/03/2023 01/04/2022 31/03/2023 L S Bullen 22/08/2022 M P Bullen M I Bullen P R M Bullen 22/08/2022 G A Driemeyer 01/08/2023 16 November 2023 The principal activity of the company is that of electrical and mechanical contracting. 00653265 2023-03-31 00653265 bus:Director1 2023-03-31 00653265 bus:Director4 2023-03-31 00653265 bus:Director5 2023-03-31 00653265 2022-03-31 00653265 core:CurrentFinancialInstruments 2023-03-31 00653265 core:CurrentFinancialInstruments 2022-03-31 00653265 core:Non-currentFinancialInstruments 2023-03-31 00653265 core:Non-currentFinancialInstruments 2022-03-31 00653265 core:ShareCapital 2023-03-31 00653265 core:ShareCapital 2022-03-31 00653265 core:RetainedEarningsAccumulatedLosses 2023-03-31 00653265 core:RetainedEarningsAccumulatedLosses 2022-03-31 00653265 core:Vehicles 2022-03-31 00653265 core:OfficeEquipment 2022-03-31 00653265 core:Vehicles 2023-03-31 00653265 core:OfficeEquipment 2023-03-31 00653265 bus:OrdinaryShareClass1 2023-03-31 00653265 2022-04-01 2023-03-31 00653265 bus:FullAccounts 2022-04-01 2023-03-31 00653265 bus:SmallEntities 2022-04-01 2023-03-31 00653265 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00653265 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00653265 bus:Director1 2022-04-01 2023-03-31 00653265 bus:Director2 2022-04-01 2023-03-31 00653265 bus:Director3 2022-04-01 2023-03-31 00653265 bus:Director4 2022-04-01 2023-03-31 00653265 bus:Director5 2022-04-01 2023-03-31 00653265 core:Vehicles 2022-04-01 2023-03-31 00653265 core:OfficeEquipment 2022-04-01 2023-03-31 00653265 2021-04-01 2022-03-31 00653265 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 00653265 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 00653265 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00653265 (England and Wales)

E.V. BULLEN & SON LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

E.V. BULLEN & SON LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

E.V. BULLEN & SON LIMITED

BALANCE SHEET

As at 31 March 2023
E.V. BULLEN & SON LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 43,749 19,645
43,749 19,645
Current assets
Stocks 5 307,528 1,142,955
Debtors 6 507,518 456,196
Cash at bank and in hand 316,274 358,048
1,131,320 1,957,199
Creditors: amounts falling due within one year 7 ( 696,501) ( 1,512,355)
Net current assets 434,819 444,844
Total assets less current liabilities 478,568 464,489
Creditors: amounts falling due after more than one year 8 ( 25,713) ( 45,261)
Provision for liabilities ( 2,790) 0
Net assets 450,065 419,228
Capital and reserves
Called-up share capital 9 1,000 1,000
Profit and loss account 449,065 418,228
Total shareholder's funds 450,065 419,228

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.

Directors' responsibilities:

The financial statements of E.V. Bullen & Son Limited (registered number: 00653265) were approved and authorised for issue by the Board of Directors on 16 November 2023. They were signed on its behalf by:

M P Bullen
Director
E.V. BULLEN & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
E.V. BULLEN & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

E.V. Bullen & Son Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Green Lane Business Park 238 Green Lane, New Eltham, London, SE9 3TL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current 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 corporation 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stock are measured at the lower of cost and estimated selling price less costs to completed sell. Cost includes all cost of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Trade and other 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.

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 and other 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at
initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated
at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Specifically, judgements and estimates are required in determining the useful life of non-current assets, recoverability of trade debtors and the use of going concern.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 31

4. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 April 2022 155,424 52,398 207,822
Additions 32,750 0 32,750
At 31 March 2023 188,174 52,398 240,572
Accumulated depreciation
At 01 April 2022 136,513 51,664 188,177
Charge for the financial year 8,462 184 8,646
At 31 March 2023 144,975 51,848 196,823
Net book value
At 31 March 2023 43,199 550 43,749
At 31 March 2022 18,911 734 19,645

5. Stocks

2023 2022
£ £
Work in progress 307,528 1,142,955

6. Debtors

2023 2022
£ £
Trade debtors 492,133 442,817
Other debtors 15,385 13,379
507,518 456,196

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 12,000
Trade creditors 227,335 513,172
Corporation tax 17,606 0
Other taxation and social security 167,778 81,186
Obligations under finance leases and hire purchase contracts 21,414 2,335
Other creditors 252,368 903,662
696,501 1,512,355

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 25,713 34,667
Obligations under finance leases and hire purchase contracts 0 10,594
25,713 45,261

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

10. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Director's loan account (100) 651

During the year the company made advances of £751. The loan from the director to the company is unsecured, interest free and repayable on demand.