Registered number
07276320
Ferguson Brown Sustainable Engineering Ltd
Accounts
For the Year Ended
30 June 2023
Oakensen
Chartered Accountants
Unit 2 Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Ferguson Brown Sustainable Engineering Ltd
Registered number: 07276320
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 31,546 5,715
Current assets
Debtors 4 329,821 324,087
Cash at bank and in hand 1,387 7,218
331,208 331,305
Creditors: amounts falling due within one year 5 (206,875) (190,399)
Net current assets 124,333 140,906
Total assets less current liabilities 155,879 146,621
Creditors: amounts falling due after more than one year 6 (75,921) (86,000)
Net assets 79,958 60,621
Capital and reserves
Called up share capital 839 839
Profit and loss account 79,119 59,782
Shareholders' funds 79,958 60,621
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H L Crawford
Director
Approved by the board on 4 March 2024
Ferguson Brown Sustainable Engineering Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when the sale has been completed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 9
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 July 2022 36,757 - 36,757
Additions 417 31,115 31,532
At 30 June 2023 37,174 31,115 68,289
Depreciation
At 1 July 2022 31,042 - 31,042
Charge for the year 1,812 3,889 5,701
At 30 June 2023 32,854 3,889 36,743
Net book value
At 30 June 2023 4,320 27,226 31,546
At 30 June 2022 5,715 - 5,715
4 Debtors 2023 2022
£ £
Trade debtors 177,405 169,346
Other debtors 152,416 154,741
329,821 324,087
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 44,832 74,227
Obligations under finance lease and hire purchase contracts 6,529 1,762
Trade creditors 46,203 36,831
Taxes and social security costs 90,498 75,666
Other creditors 18,813 1,913
206,875 190,399
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 59,600 86,000
Obligations under finance lease and hire purchase contracts 16,321 -
75,921 86,000
7 Other information
Ferguson Brown Sustainable Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Oaklands
Pudding Pie Lane
Langford
Bristol
BS40 5EL
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