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2023-04-30
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No description of principal activities is disclosed
2022-05-01
Sage Accounts Production 21.0 - FRS102_2021
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core:OwnedOrFreeholdAssets
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02001227
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Company registration number:
02001227
B & S Supplies (Lancs) Limited
Unaudited filleted financial statements
30 April 2023
B & S Supplies (Lancs) Limited
Contents
Director and other information
Accountants report
Statement of financial position
Notes to the financial statements
B & S Supplies (Lancs) Limited
Directors and other information
|
|
|
|
Director |
Richard Stevenson |
|
|
|
|
|
|
|
Secretary |
Kathleen Brown |
|
|
|
|
|
|
|
Company number |
02001227 |
|
|
|
|
|
|
|
Registered office |
14 Bridge Street |
|
|
Garstang |
|
|
PR3 1YB |
|
|
|
|
|
|
|
Business address |
14 Bridge Street |
|
|
Garstang |
|
|
PR3 1YB |
|
|
|
|
|
|
|
Accountants |
Leach Briely |
|
|
Craven House |
|
|
32 Lee Lane |
|
|
Horwich |
|
|
Bolton |
|
|
BL6 7BY |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
National Westminster Bank Plc. |
|
|
24 Deansgate |
|
|
Bolton |
|
|
BL1 1BN |
|
|
|
|
|
Santander UK Plc |
|
|
Bridle Road |
|
|
Bootle |
|
|
L30 4GB |
|
|
|
B & S Supplies (Lancs) Limited
Accountants report to the director on the preparation of the
unaudited statutory financial statements of B & S Supplies (Lancs) Limited
Year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B & S Supplies (Lancs) Limited for the year ended 30 April 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com.
This report is made solely to the director of B & S Supplies (Lancs) Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of B & S Supplies (Lancs) Limited and state those matters that we have agreed to state to him, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B & S Supplies (Lancs) Limited and its director for our work or for this report.
It is your duty to ensure that B & S Supplies (Lancs) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of B & S Supplies (Lancs) Limited. You consider that B & S Supplies (Lancs) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of B & S Supplies (Lancs) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Leach Briely
Accountants
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
10 November 2023
B & S Supplies (Lancs) Limited
Statement of financial position
30 April 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
7 |
- |
|
|
|
- |
|
|
Tangible assets |
|
8 |
265,085 |
|
|
|
254,404 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
265,085 |
|
|
|
254,404 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
51,093 |
|
|
|
48,218 |
|
|
Debtors |
|
9 |
684 |
|
|
|
781 |
|
|
Cash at bank and in hand |
|
|
56,003 |
|
|
|
59,352 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
107,780 |
|
|
|
108,351 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
10 |
(
67,251) |
|
|
|
(
84,871) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
40,529 |
|
|
|
23,480 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
305,614 |
|
|
|
277,884 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
11 |
|
|
(
14,800) |
|
|
|
(
7,349) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
12 |
|
|
(
5,522) |
|
|
|
(
2,501) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
285,292 |
|
|
|
268,034 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
14 |
|
|
100 |
|
|
|
100 |
Revaluation reserve |
|
|
|
|
172,640 |
|
|
|
173,828 |
Profit and loss account |
|
|
|
|
112,552 |
|
|
|
94,106 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
285,292 |
|
|
|
268,034 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the 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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 November 2023
, and are signed on behalf of the board by:
Richard Stevenson
Director
Company registration number:
02001227
B & S Supplies (Lancs) Limited
Notes to the financial statements
Year ended 30 April 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Bridge Street, Garstang, PR3 1YB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements are prepared on the historical cost basis as modified by the revaluation of the freehold properties. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current period. Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initally recorded at cost, and are subsequently stated at cost or valuation less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
2 % |
straight line |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Motor vehicle |
- |
25 % |
reducing balance |
|
|
|
|
|
Stocks
Stocks are measured at cost.
Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2022:
11
).
5.
Interest payable and similar expenses
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Bank loan |
|
|
575 |
536 |
|
Other loans made to the company: |
|
|
|
|
|
|
Finance leases and hire purchase contracts |
|
299 |
322 |
|
Other interest payable and similar expenses |
|
|
2,500 |
3,670 |
|
|
|
|
_______ |
_______ |
|
|
|
|
3,374 |
4,528 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
6.
Tax on profit
Major components of tax expense
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Current tax: |
|
|
|
|
UK current tax expense |
|
12,289 |
15,563 |
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Deferred tax: |
|
|
|
|
Origination and reversal of timing differences |
|
3,021 |
(
678) |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
15,310 |
14,885 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 May 2022 and 30 April 2023 |
18,264 |
18,264 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 May 2022 and 30 April 2023 |
18,264 |
18,264 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 April 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 April 2022 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
8.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicle |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost or valuation |
|
|
|
|
|
|
|
|
At 1 May 2022 |
250,000 |
742 |
14,562 |
8,898 |
274,202 |
|
|
|
Additions |
- |
- |
- |
16,800 |
16,800 |
|
|
|
Disposals |
- |
- |
- |
(
8,898) |
(
8,898) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 April 2023 |
250,000 |
742 |
14,562 |
16,800 |
282,104 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 May 2022 |
5,600 |
742 |
7,080 |
6,376 |
19,798 |
|
|
|
Charge for the year |
1,400 |
- |
1,497 |
700 |
3,597 |
|
|
|
Disposals |
- |
- |
- |
(
6,376) |
(
6,376) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 April 2023 |
7,000 |
742 |
8,577 |
700 |
17,019 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 April 2023 |
243,000 |
- |
5,985 |
16,100 |
265,085 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 April 2022 |
244,400 |
- |
7,482 |
2,522 |
254,404 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
|
|
|
|
|
|
|
|
|
Freehold property |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
At 30 April 2023 |
|
|
|
|
|
|
|
|
Aggregate cost |
152,574 |
152,574 |
|
|
|
|
|
|
Aggregate depreciation |
(92,984) |
(92,984) |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
59,590 |
59,590 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 30 April 2022 |
|
|
|
|
|
|
|
|
Aggregate cost |
152,574 |
152,574 |
|
|
|
|
|
|
Aggregate depreciation |
(89,934) |
(89,934) |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
62,640 |
62,640 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
|
|
|
|
|
|
|
|
|
|
Motor vehicles |
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
|
At 30 April 2023 |
16,100 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 30 April 2022 |
- |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other debtors |
|
684 |
781 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loan |
|
1,950 |
1,950 |
|
Trade creditors |
|
20,308 |
24,582 |
|
Corporation tax |
|
12,289 |
15,564 |
|
Social security and other taxes |
|
6,620 |
10,716 |
|
Other creditors |
|
26,084 |
32,059 |
|
|
|
_______ |
_______ |
|
|
|
67,251 |
84,871 |
|
|
|
_______ |
_______ |
|
|
|
|
|
11.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loan |
|
5,275 |
7,349 |
|
Other creditors |
|
9,525 |
- |
|
|
|
_______ |
_______ |
|
|
|
14,800 |
7,349 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Provisions
|
|
Deferred tax (note 13) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1 May 2022 |
2,501 |
2,501 |
|
|
|
|
Additions |
3,021 |
3,021 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 30 April 2023 |
5,522 |
5,522 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
13.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Included in provisions (note 12) |
|
5,522 |
2,501 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Accelerated capital allowances |
|
5,522 |
2,501 |
|
|
|
_______ |
_______ |
|
|
|
|
|
14.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|