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Registration number: 10458091

Bullen-Brown Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Bullen-Brown Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bullen-Brown Limited

Company Information

Director

P Bullen-Brown

Registered office

127A Cavendish Road
Cambridge
Cambs
CB1 3AE

Accountants

Websters Cambridge Limited
10 Wellington Street
Cambridge
Cambridgeshire
CB1 1HW

 

Bullen-Brown Limited

(Registration number: 10458091)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

98,399

122,999

Tangible assets

5

144,158

225,340

 

242,557

348,339

Current assets

 

Stocks

105,876

116,682

Debtors

6

484,321

439,092

Cash at bank and in hand

 

179,896

221,262

 

770,093

777,036

Creditors: Amounts falling due within one year

7

(301,277)

(339,217)

Net current assets

 

468,816

437,819

Total assets less current liabilities

 

711,373

786,158

Creditors: Amounts falling due after more than one year

7

(81,145)

(156,558)

Provisions for liabilities

(45,518)

(24,935)

Net assets

 

584,710

604,665

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

584,709

604,664

Shareholders' funds

 

584,710

604,665

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.

Director's 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 director acknowledges 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 December 2023
 

 

Bullen-Brown Limited

(Registration number: 10458091)
Balance Sheet as at 31 March 2023

.........................................
P Bullen-Brown
Director

 

Bullen-Brown 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 & Wales.

The address of its registered office is:
127A Cavendish Road
Cambridge
Cambs
CB1 3AE

These financial statements were authorised for issue by the director on 15 December 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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:

 

Bullen-Brown Limited

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

Asset class

Depreciation method and rate

Fittings, fixtures and equipment

25% on the straight line method

Motor vehicles

25% on the straight line method

Short leasehold property

20% on the straight line method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Amortised over 10 years

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.

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.

 

Bullen-Brown Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2022 - 19).

 

Bullen-Brown Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

245,997

245,997

At 31 March 2023

245,997

245,997

Amortisation

At 1 April 2022

122,998

122,998

Amortisation charge

24,600

24,600

At 31 March 2023

147,598

147,598

Carrying amount

At 31 March 2023

98,399

98,399

At 31 March 2022

122,999

122,999

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

217,120

202,830

80,990

500,940

Additions

-

4,273

-

4,273

Disposals

-

-

(20,990)

(20,990)

At 31 March 2023

217,120

207,103

60,000

484,223

Depreciation

At 1 April 2022

104,256

134,956

36,388

275,600

Charge for the year

43,326

27,129

15,000

85,455

Eliminated on disposal

-

-

(20,990)

(20,990)

At 31 March 2023

147,582

162,085

30,398

340,065

Carrying amount

At 31 March 2023

69,538

45,018

29,602

144,158

At 31 March 2022

112,864

67,874

44,602

225,340

Included within the net book value of land and buildings above is £69,538 (2022 - £112,864) in respect of long leasehold land and buildings.
 

 

Bullen-Brown Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

18,034

13,665

Prepayments

22,409

24,940

Other debtors

443,878

400,487

 

484,321

439,092

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

86,691

82,419

Trade creditors

 

69,042

108,060

Taxation and social security

 

129,238

140,198

Accruals and deferred income

 

7,725

11,601

Other creditors

 

8,581

(3,061)

 

301,277

339,217

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

81,145

156,558

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

9

Related party transactions

 

Bullen-Brown Limited

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

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

8,640

8,715

Contributions paid to money purchase schemes

72

-

8,712

8,715

Loans to related parties

2023

Key management
£

Total
£

At start of period

285,661

285,661

At end of period

285,661

285,661

2022

Key management
£

Total
£

At start of period

77,454

77,454

Advanced

299,207

299,207

Repaid

(91,000)

(91,000)

At end of period

285,661

285,661

Terms of loans to related parties

A loan was made to the director during the period.