Company registration number 04767802 (England and Wales)
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN FOR THE YEAR ENDED 30 JUNE 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hills of Bramley Limited t/a Peter Christian for the year ended 30 June 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Hills of Bramley Limited t/a Peter Christian, as a body, in accordance with the terms of our engagement letter dated 15/06/2022 Our work has been undertaken solely to prepare for your approval the financial statements of Hills of Bramley Limited t/a Peter Christian and state those matters that we have agreed to state to the board of directors of Hills of Bramley Limited t/a Peter Christian, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hills of Bramley Limited t/a Peter Christian and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Hills of Bramley Limited t/a Peter Christian has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hills of Bramley Limited t/a Peter Christian. You consider that Hills of Bramley Limited t/a Peter Christian is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hills of Bramley Limited t/a Peter Christian. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
11 March 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
29,682
52,383
Tangible assets
4
229,253
284,363
258,935
336,746
Current assets
Stocks
2,444,007
2,008,658
Debtors
5
278,716
206,576
Cash at bank and in hand
2,075,410
1,901,464
4,798,133
4,116,698
Creditors: amounts falling due within one year
6
(1,106,420)
(1,122,719)
Net current assets
3,691,713
2,993,979
Total assets less current liabilities
3,950,648
3,330,725
Provisions for liabilities
(43,500)
(41,800)
Net assets
3,907,148
3,288,925
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
3,906,148
3,287,925
Total equity
3,907,148
3,288,925
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 11 March 2024 and are signed on its behalf by:
Mr N P J Alderton
Mrs M G Alderton
Director
Director
Company registration number 04767802 (England and Wales)
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information
Hills of Bramley Limited t/a Peter Christian is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis. The directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the annual report and accounts.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website development
25% per annum on a straight line basis
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
20% per annum on a straight line basis
Plant and equipment
20% per annum on a diminishing balance basis
Fixtures and fittings
15% per annum on a diminishing balance basis
Office equipment
25% per annum on a straight line basis
Motor vehicles
25% per annum on diminishing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.11
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.12
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.13
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.15
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 40 (2022 - 41).
3
Intangible fixed assets
Goodwill
Website development
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
34,500
117,575
152,075
Amortisation and impairment
At 1 July 2022
34,500
65,192
99,692
Amortisation charged for the year
22,701
22,701
At 30 June 2023
34,500
87,893
122,393
Carrying amount
At 30 June 2023
29,682
29,682
At 30 June 2022
52,383
52,383
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 July 2022
6,586
11,736
258,049
114,913
146,701
537,985
Additions
9,495
9,495
At 30 June 2023
6,586
11,736
258,049
114,913
156,196
547,480
Depreciation and impairment
At 1 July 2022
6,586
7,654
130,012
73,759
35,611
253,622
Depreciation charged in the year
817
19,205
15,030
29,553
64,605
At 30 June 2023
6,586
8,471
149,217
88,789
65,164
318,227
Carrying amount
At 30 June 2023
3,265
108,832
26,124
91,032
229,253
At 30 June 2022
4,082
128,037
41,154
111,090
284,363
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,922
Other debtors
278,716
201,654
278,716
206,576
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,141
Trade creditors
327,475
485,810
Taxation and social security
556,865
400,370
Other creditors
222,080
235,398
1,106,420
1,122,719
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
HILLS OF BRAMLEY LIMITED T/A PETER CHRISTIAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
26,000
141,000