Company Registration No. 05462855 (England and Wales)
Saunders Brothers (Bucks) Ltd
Unaudited accounts
for the year ended 30 September 2023
Saunders Brothers (Bucks) Ltd
Unaudited accounts
Contents
Saunders Brothers (Bucks) Ltd
Company Information
for the year ended 30 September 2023
Directors
D M Saunders
M R Saunders
Company Number
05462855 (England and Wales)
Registered Office
Saunders Yard
Park Mill, Summerleys Road
Princes Risborough
Buckinghamshire
HP27 9QB
Accountants
Douglas Collier Ltd
10 Village Way
Pinner
Middlesex
HA5 5AF
Saunders Brothers (Bucks) Ltd
Statement of financial position
as at 30 September 2023
Tangible assets
86,301
59,818
Inventories
568,453
367,103
Cash at bank and in hand
474,853
1,051,319
Creditors: amounts falling due within one year
(272,385)
(491,553)
Net current assets
1,269,389
1,107,623
Total assets less current liabilities
1,355,690
1,167,441
Provisions for liabilities
Deferred tax
(16,273)
(6,664)
Net assets
1,339,417
1,160,777
Called up share capital
600
600
Profit and loss account
1,338,817
1,160,177
Shareholders' funds
1,339,417
1,160,777
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by
M R Saunders
Director
Company Registration No. 05462855
Saunders Brothers (Bucks) Ltd
Notes to the Accounts
for the year ended 30 September 2023
Saunders Brothers (Bucks) Ltd is a private company, limited by shares, registered in England and Wales, registration number 05462855. The registered office is Saunders Yard, Park Mill, Summerleys Road, Princes Risborough, Buckinghamshire, HP27 9QB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Saunders Brothers (Bucks) Ltd
Notes to the Accounts
for the year ended 30 September 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 October 2022
35,347
332,858
368,205
Disposals
-
(14,000)
(14,000)
At 30 September 2023
35,347
386,889
422,236
At 1 October 2022
10,603
297,784
308,387
Charge for the year
3,535
38,013
41,548
On disposals
-
(14,000)
(14,000)
At 30 September 2023
14,138
321,797
335,935
At 30 September 2023
21,209
65,092
86,301
At 30 September 2022
24,744
35,074
59,818
Finished goods
568,453
367,103
Amounts falling due within one year
Trade debtors
187,348
120,210
Accrued income and prepayments
3,189
-
Other debtors
307,931
60,544
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
55,516
127,543
Taxes and social security
82,803
161,094
Other creditors
35,142
23,095
Loans from directors
-
36,729
Saunders Brothers (Bucks) Ltd
Notes to the Accounts
for the year ended 30 September 2023
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Transactions with related parties
Architectural Timber Products Ltd, a company under common control, was a supplier to Saunders Brothers (Bucks) Ltd in the year ending 30 September 2023. Purchases of £24,013 were made from the related party. No amount was due to Architectural Timber Products Ltd at 30 September 2023.
9
Average number of employees
During the year the average number of employees was 13 (2022: 13).