BrightAccountsProduction v1.0.0 v1.0.0 2022-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the sale of kitchen appliances. 24 January 2024 NI637653 2023-08-31 NI637653 2022-08-31 NI637653 2021-08-31 NI637653 2022-09-01 2023-08-31 NI637653 2021-09-01 2022-08-31 NI637653 uk-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 NI637653 uk-curr:PoundSterling 2022-09-01 2023-08-31 NI637653 uk-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 NI637653 uk-bus:FullAccounts 2022-09-01 2023-08-31 NI637653 uk-bus:Director1 2022-09-01 2023-08-31 NI637653 uk-bus:RegisteredOffice 2022-09-01 2023-08-31 NI637653 uk-bus:Agent1 2022-09-01 2023-08-31 NI637653 uk-core:ShareCapital 2023-08-31 NI637653 uk-core:ShareCapital 2022-08-31 NI637653 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI637653 uk-core:RetainedEarningsAccumulatedLosses 2022-08-31 NI637653 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI637653 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-08-31 NI637653 uk-bus:FRS102 2022-09-01 2023-08-31 NI637653 uk-core:Goodwill 2022-09-01 2023-08-31 NI637653 uk-core:PlantMachinery 2022-09-01 2023-08-31 NI637653 uk-core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 NI637653 uk-core:MotorVehicles 2022-09-01 2023-08-31 NI637653 uk-core:Goodwill 2022-08-31 NI637653 uk-core:Goodwill 2023-08-31 NI637653 uk-core:CurrentFinancialInstruments 2023-08-31 NI637653 uk-core:CurrentFinancialInstruments 2022-08-31 NI637653 uk-core:WithinOneYear 2023-08-31 NI637653 uk-core:WithinOneYear 2022-08-31 NI637653 uk-core:WithinOneYear 2023-08-31 NI637653 uk-core:WithinOneYear 2022-08-31 NI637653 uk-core:WithinOneYear 2023-08-31 NI637653 uk-core:WithinOneYear 2022-08-31 NI637653 uk-core:AfterOneYear 2023-08-31 NI637653 uk-core:AfterOneYear 2022-08-31 NI637653 uk-core:AfterOneYear 2023-08-31 NI637653 uk-core:AfterOneYear 2022-08-31 NI637653 uk-core:BetweenOneTwoYears 2023-08-31 NI637653 uk-core:BetweenOneTwoYears 2022-08-31 NI637653 uk-core:BetweenTwoFiveYears 2023-08-31 NI637653 uk-core:BetweenTwoFiveYears 2022-08-31 NI637653 uk-core:MoreThanFiveYears 2023-08-31 NI637653 uk-core:MoreThanFiveYears 2022-08-31 NI637653 uk-core:BetweenOneFiveYears 2023-08-31 NI637653 uk-core:BetweenOneFiveYears 2022-08-31 NI637653 uk-core:EmployeeBenefits 2022-08-31 NI637653 uk-core:EmployeeBenefits 2022-09-01 2023-08-31 NI637653 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 NI637653 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-08-31 NI637653 uk-core:OtherDeferredTax 2023-08-31 NI637653 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-08-31 NI637653 uk-core:EmployeeBenefits 2023-08-31 NI637653 2022-09-01 2023-08-31 NI637653 uk-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
Company Registration Number: NI637653
 
 
Bodel Distributors Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 August 2023
Bodel Distributors Limited
Director and Other Information

 
Director Mr John Stephen Leckey
 
 
Company Registration Number NI637653
 
 
Registered Office 9 Hulls Lane
Lisburn
BT28 2SR
Northern Ireland
 
 
Accountants HCA Chartered Accountants Ltd
Chartered Accountants
12 Cromac Place
Belfast
Berkshire
BT7 2JB
Northern Ireland
 
 
Bankers Danske Bank
  Donegall Square West
  Belfast
  Co. Antrim
  BT1 6JS
  Northern Ireland
 
   
Solicitors DWF (Northern Ireland) LLP
  42 Queen Street
  Belfast
  Co. Antrim
  BT1 6HL
  Northern Ireland



Bodel Distributors Limited
Company Registration Number: NI637653
Balance Sheet
as at 31 August 2023

2023 2022
Notes £ £
 
Fixed Assets
Intangible assets 4 75,000 100,000
Tangible assets 5 30,816 52,115
───────── ─────────
105,816 152,115
───────── ─────────
 
Current Assets
Stocks 6 971,785 1,159,748
Debtors 7 935,539 1,191,953
Cash and cash equivalents 947,830 583,546
───────── ─────────
2,855,154 2,935,247
───────── ─────────
Creditors: amounts falling due within one year 8 (995,742) (1,211,134)
───────── ─────────
Net Current Assets 1,859,412 1,724,113
───────── ─────────
Total Assets less Current Liabilities 1,965,228 1,876,228
 
Creditors:
amounts falling due after more than one year 9 (211,224) (186,702)
 
Provisions for liabilities 11 (5,615) (10,619)
───────── ─────────
Net Assets 1,748,389 1,678,907
═════════ ═════════
 
Capital and Reserves
Called up share capital 110,000 110,000
Retained earnings 1,638,389 1,568,907
───────── ─────────
Equity attributable to owners of the company 1,748,389 1,678,907
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 24 January 2024
           
           
________________________________          
Mr John Stephen Leckey          
Director          
           



Bodel Distributors Limited
Notes to the Financial Statements
for the financial year ended 31 August 2023

   
1. General Information
 
Bodel Distributors Limited is a company limited by shares incorporated in Northern Ireland. 9 Hulls Lane, Lisburn, BT28 2SR, Northern Ireland is the registered office, which is also the principal place of business of the company. The principal activity of the company is the sale of kitchen appliances. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 10%/25% Straight line
  Fixtures, fittings and equipment - 10%/25%  Straight line
  Motor vehicles - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 22, (2022 - 23).
 
  2023 2022
  Number Number
 
Director 1 1
Staff 21 22
  ───────── ─────────
  22 23
  ═════════ ═════════
     
4. Intangible assets
   
  Goodwill
  £
Cost
At 1 September 2022 250,000
  ─────────
 
At 31 August 2023 250,000
  ─────────
Amortisation
At 1 September 2022 150,000
Charge for financial year 25,000
  ─────────
At 31 August 2023 175,000
  ─────────
Net book value
At 31 August 2023 75,000
  ═════════
At 31 August 2022 100,000
  ═════════
 
Goodwill represents the premium paid to acquire the trade and assets of the well established company then trading as Bodel Distributors Limited (now renamed Garf Distributors Limited). The former Bodel Distributors Limited was formed circa 40 years ago and was consistently profitable as evidenced by the quantum of goodwill paid to acquire its trade.
           
5. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 September 2022 14,766 110,450 53,508 178,724
Additions - 11,033 - 11,033
  ───────── ───────── ───────── ─────────
At 31 August 2023 14,766 121,483 53,508 189,757
  ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2022 11,451 83,944 31,214 126,609
Charge for the financial year 3,163 18,467 10,702 32,332
  ───────── ───────── ───────── ─────────
At 31 August 2023 14,614 102,411 41,916 158,941
  ───────── ───────── ───────── ─────────
Net book value
At 31 August 2023 152 19,072 11,592 30,816
  ═════════ ═════════ ═════════ ═════════
At 31 August 2022 3,315 26,506 22,294 52,115
  ═════════ ═════════ ═════════ ═════════
           
5.1. Tangible assets continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2023   2022  
  Net Depreciation Net Depreciation
  book value charge book value charge
  £ £ £ £
 
Motor vehicles 11,592 10,702 22,294 10,702
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 971,785 1,159,748
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2023 2022
  £ £
 
Trade debtors 879,035 1,131,810
Other debtors 373 3,193
Prepayments and accrued income 56,131 56,950
  ───────── ─────────
  935,539 1,191,953
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts 273,466 -
Bank loan 51,848 105,263
Net obligations under finance leases
and hire purchase contracts 9,654 9,654
Trade creditors 447,478 752,214
Taxation  (Note 10) 124,909 228,293
Director's current account 41,575 47,316
Other creditors 5,078 -
Accruals 41,734 68,394
  ───────── ─────────
  995,742 1,211,134
  ═════════ ═════════
 
Trade creditors include amounts owing to suppliers, who purport to include reservation of title clauses in their conditions of sales. It is not practicable to quantify this amount, or how much of it is included in stocks.
 
The bank loan is secured by a fixed and floating charge over all property and undertakings of the company.

       
9. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 209,615 175,439
Finance leases and hire purchase contracts 1,609 11,263
  ───────── ─────────
  211,224 186,702
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 325,314 105,263
Repayable between one and two years 51,848 105,263
Repayable between two and five years 155,545 70,176
Repayable in five years or more 2,222 -
  ───────── ─────────
  534,929 280,702
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 9,654 9,654
Repayable between one and five years 1,609 11,263
  ───────── ─────────
  11,263 20,917
  ═════════ ═════════
       
10. Taxation 2023 2022
  £ £
 
Creditors:
VAT 41,823 58,623
Corporation tax 52,233 115,838
PAYE / NI 19,710 22,874
Tax retained for director 11,143 30,958
  ───────── ─────────
  124,909 228,293
  ═════════ ═════════
       
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
  2023 2022
  £ £
 
At financial year start 10,619 13,815
Charged to profit and loss (5,004) (3,196)
  ───────── ─────────
At financial year end 5,615 10,619
  ═════════ ═════════
       
12. Financial Instruments
 
The company has chosen to apply the provisions of Section 11 and 12 of FRS 102 to account for all of its financial instruments.
       
13. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 August 2023.
           
14. Related party transactions
 
The only connected party is the director.
 
The director did not make any advances during the year. The loan from the director is unsecured and interest free.
   
15. Director's advances, credits and guarantees
 
The director's loan totals £41,575 (2022: £47,316) plus tax retained of £11,143 (2022: £30,958). The director's loan is interest free, unsecured and repayable on demand.
   
16. Controlling interest
 
John Leckey has the controlling interest in the company.
   
17. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.
       
18. Share Capital
 
The company has allotted, called up and fully paid share capital as follows:
 
  2023 2022
  £ £
 
£1 Ordinary shares 10,000 10,000
£1 B Ordinary shares 100,000 100,000
  ───────── ─────────
  110,000 110,000
  ═════════ ═════════