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REGISTERED NUMBER: 02809866 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

BLASTREAT (ARUNDEL) LIMITED

BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLASTREAT (ARUNDEL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: M W Gale
Mrs C L Gale
H W Gale





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 02809866 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,218,706 638,800
Investments 5 347,459 347,459
2,566,165 986,259

CURRENT ASSETS
Stocks 6 20,785 23,312
Debtors 7 206,729 482,729
Cash at bank and in hand 46,796 34,347
274,310 540,388
CREDITORS
Amounts falling due within one year 8 649,407 170,122
NET CURRENT (LIABILITIES)/ASSETS (375,097 ) 370,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,191,068

1,356,525

CREDITORS
Amounts falling due after more than one
year

9

783,431

2,723
NET ASSETS 1,407,637 1,353,802

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 1,407,635 1,353,800
SHAREHOLDERS' FUNDS 1,407,637 1,353,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)

BALANCE SHEET - continued
28TH FEBRUARY 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 29th November 2023 and were signed on its behalf by:





M W Gale - Director


BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Blastreat (Arundel) 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.

Preparation of consolidated financial statements
The financial statements contain information about Blastreat (Arundel) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are 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 profit or loss.


BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stock is also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st March 2022 608,104 138,046 88,029 834,179
Additions 1,568,623 - 24,218 1,592,841
At 28th February 2023 2,176,727 138,046 112,247 2,427,020
DEPRECIATION
At 1st March 2022 - 126,753 68,626 195,379
Charge for year - 1,972 10,963 12,935
At 28th February 2023 - 128,725 79,589 208,314
NET BOOK VALUE
At 28th February 2023 2,176,727 9,321 32,658 2,218,706
At 28th February 2022 608,104 11,293 19,403 638,800

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st March 2022 45,375
Additions 24,218
At 28th February 2023 69,593
DEPRECIATION
At 1st March 2022 26,233
Charge for year 10,841
At 28th February 2023 37,074
NET BOOK VALUE
At 28th February 2023 32,519
At 28th February 2022 19,142

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2022
and 28th February 2023 347,459
NET BOOK VALUE
At 28th February 2023 347,459
At 28th February 2022 347,459

BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

6. STOCKS
2023 2022
£    £   
Stocks 2,000 2,000
Work-in-progress 18,785 21,312
20,785 23,312

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 126,369 130,946
Other debtors 80,360 351,783
206,729 482,729

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,952 42,500
Hire purchase contracts 7,555 8,167
Trade creditors 15,089 22,175
Taxation and social security 47,682 53,827
Other creditors 567,129 43,453
649,407 170,122

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 768,128 -
Hire purchase contracts 15,303 2,723
783,431 2,723

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 720,320 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 780,080 -

The bank loan is secured on the freehold property.

BLASTREAT (ARUNDEL) LIMITED (REGISTERED NUMBER: 02809866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Retained
earnings
£   

At 1st March 2022 1,353,800
Profit for the year 53,835
At 28th February 2023 1,407,635

13. RELATED PARTY DISCLOSURES

Hawksley & Sons Limited

Hawksley & Sons Limited is the company's 100% subsidiary.

During the year the company made sales of £nil (2022: £2,475) and purchases of £nil (2022: £nil) to/from Hawksley & Sons Limited. At the year end the company had a purchase ledger balance with Hawksley & Sons Limited of £10,000 (2022: £20,000).

Southdown Construction (Metalwork) Limited

Southdown Construction (Metalwork) Limited is a connected company as it has directors and shareholders in common with Blastreat (Arundel) Limited.

During the year the company made sales of £93,307 (2022: £67,220) to Southdown Construction (Metalwork) Limited. The company recharged rent of £25,000 (2022: £25,000) to Southdown Construction (Metalwork) Limited. At the year end the net amount due from that company was £63,550 (2022: £86,038).

Avantec Limited

Avantec Limited is a connected company as it has directors and shareholders in common with Blastreat (Arundel) Limited.

At the year end Avantec Limited was owed £536,807 (2022: £97,866) in respect of a loan.

Lo-Laboroptik Limited

Lo-Laboroptik Limited is a connected company as it has directors and shareholders in common with Blastreat (Arundel) Limited.

At the year end the net amount due from that company was £15,744 (2022: £15,062).