Company registration number NI628471 (Northern Ireland)
BOB & BERTS MENARYS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
BOB & BERTS MENARYS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BOB & BERTS MENARYS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,322
25,161
Current assets
Stocks
6,794
4,482
Debtors
4
266,149
231,781
Cash at bank and in hand
50,990
116,746
323,933
353,009
Creditors: amounts falling due within one year
5
(46,826)
(61,200)
Net current assets
277,107
291,809
Total assets less current liabilities
300,429
316,970
Provisions for liabilities
112
(1,632)
Net assets
300,541
315,338
Capital and reserves
Called up share capital
6
4
4
Profit and loss reserves
300,537
315,334
Total equity
300,541
315,338

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements 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 financial statements were approved by the board of directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
Mr D Ferguson
Director
Company registration number NI628471 (Northern Ireland)
BOB & BERTS MENARYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Bob & Berts Menarys Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 15 Duke Street, Ballymena, Co Antrim, BT43 6BL.

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 company has the support of its parent company, which is supported by its shareholders and bank. Thetrue directors have prepared cash flow forecasts, which indicate that the company has adequate resources to continue in existence for the foreseeable future. As such, the directors have applied the going concern basis when preparing these financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
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.

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 improvements
10% straight line
Plant and equipment
10% straight line
Fixtures & fittings
20% - 50% straight line

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

BOB & BERTS MENARYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies (Continued)
- 3 -
1.6
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.

1.7
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.

1.8
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BOB & BERTS MENARYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies (Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
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:

2023
2022
Number
Number
Total
14
25
BOB & BERTS MENARYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures & fittings
Total
£
£
£
£
Cost
At 1 July 2022
39,907
24,641
38,664
103,212
Additions
-
0
847
8,075
8,922
At 30 June 2023
39,907
25,488
46,739
112,134
Depreciation and impairment
At 1 July 2022
31,284
17,189
29,578
78,051
Depreciation charged in the year
3,991
2,528
4,242
10,761
At 30 June 2023
35,275
19,717
33,820
88,812
Carrying amount
At 30 June 2023
4,632
5,771
12,919
23,322
At 30 June 2022
8,623
7,452
9,086
25,161
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
1,800
Amounts owed by group undertakings
263,681
227,913
Other debtors
32
32
Prepayments and accrued income
2,436
2,036
266,149
231,781
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,297
19,037
Amounts owed to group undertakings
11,859
11,426
Taxation and social security
10,035
15,823
Other creditors
2,634
5,887
Accruals and deferred income
7,001
9,027
46,826
61,200
BOB & BERTS MENARYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4
4
4
4
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Mr Nigel Moore FCA
Statutory Auditor:
GMcG BELFAST
8
Financial commitments, guarantees and contingent liabilities

The company has given an unlimited guarantee in relation to the bank borrowings of Bob & Berts Group Limited, the parent company. The total exposure at the balance sheet date was £1,526,800.

9
Related party transactions

The directors have taken advantage of the exemption of disclosing related party transactions with other wholly owned group companies, in accordance with FRS 102.

 

No other transactions with related parties were undertaken that are required to be disclosed under FRS 102 Section 1A.

10
Parent company

The results of the company have been included in the consolidated financial statements of Bob & Berts Group Limited, copies of which are available from its registered office at 15 Duke Street, Ballymena, BT43 6BL.

2023-06-302022-07-01false28 March 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedMr C McCleanMr D FergusonMs Claire PalmerMr John David McLaughlinNI6284712022-07-012023-06-30NI6284712023-06-30NI6284712022-06-30NI628471core:LeaseholdImprovements2023-06-30NI628471core:PlantMachinery2023-06-30NI628471core:FurnitureFittings2023-06-30NI628471core:LeaseholdImprovements2022-06-30NI628471core:PlantMachinery2022-06-30NI628471core:FurnitureFittings2022-06-30NI628471core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-30NI628471core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-30NI628471core:CurrentFinancialInstruments2023-06-30NI628471core:CurrentFinancialInstruments2022-06-30NI628471core:ShareCapital2023-06-30NI628471core:ShareCapital2022-06-30NI628471core:RetainedEarningsAccumulatedLosses2023-06-30NI628471core:RetainedEarningsAccumulatedLosses2022-06-30NI628471bus:Director22022-07-012023-06-30NI628471core:LeaseholdImprovements2022-07-012023-06-30NI628471core:PlantMachinery2022-07-012023-06-30NI628471core:FurnitureFittings2022-07-012023-06-30NI6284712021-07-012022-06-30NI628471core:LeaseholdImprovements2022-06-30NI628471core:PlantMachinery2022-06-30NI628471core:FurnitureFittings2022-06-30NI6284712022-06-30NI628471bus:PrivateLimitedCompanyLtd2022-07-012023-06-30NI628471bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-30NI628471bus:FRS1022022-07-012023-06-30NI628471bus:Audited2022-07-012023-06-30NI628471bus:Director12022-07-012023-06-30NI628471bus:Director32022-07-012023-06-30NI628471bus:Director42022-07-012023-06-30NI628471bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP