2022-07-012023-06-302023-06-30false04780385L BRACKENBURY AND SON 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L BRACKENBURY AND SON LIMITED

Registered Number
04780385
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

L BRACKENBURY AND SON LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

Mr A J Brackenbury
Mrs C A Brackenbury
Mr J L Brackenbury

Registered Address

19 Heath Road, Scopwick
Lincoln
Lincolnshire
LN4 3NU

Place of Business

The Garage

Heath Road

Scopwick

Lincoln

LN4 3NU


Registered Number

04780385 (England and Wales)
L BRACKENBURY AND SON LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets7-9,345
Tangible assets8239,166233,224
239,166242,569
Current assets
Stocks971,05566,598
Debtors107,60012,218
Cash at bank and on hand378,754230,923
457,409309,739
Creditors amounts falling due within one year11(199,699)(179,216)
Net current assets (liabilities)257,710130,523
Total assets less current liabilities496,876373,092
Creditors amounts falling due after one year12(13,839)(30,037)
Provisions for liabilities13(20,754)(17,162)
Net assets462,283325,893
Capital and reserves
Called up share capital200200
Profit and loss account462,083325,693
Shareholders' funds462,283325,893
The financial statements were approved and authorised for issue by the Board of Directors on 23 August 2023, and are signed on its behalf by:
Mr A J Brackenbury
Director
Registered Company No. 04780385
L BRACKENBURY AND SON LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is the retail of vehicle fuel and the maintenance and repair of motor vehicles.
4.Basis of measurement used in financial statements
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 (as applied to small entities by section 1A of the standard).
5.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery15-
Fixtures and fittings15-
Intangible assets policy
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Goodwill on 5% straight line
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Government grants and other government assistance policy
Government grants are accounted for using either the performance model or the accruals model, depending on the class of the grant. Income from grants classed under the performance model is recognised when any performance conditions are met, which may be immediately if there are no performance conditions. Income from grants classed under the accruals model is recognised systematically over the period in which related costs are recognised or, if related to an asset, over the useful life of that asset.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year75
7.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 July 22186,900186,900
At 30 June 23186,900186,900
Amortisation and impairment
At 01 July 22177,555177,555
Charge for year9,3459,345
At 30 June 23186,900186,900
Net book value
At 30 June 23--
At 30 June 229,3459,345
8.Property, plant and equipment

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 July 22161,252115,95364,002341,207
Additions-25,52260826,130
At 30 June 23161,252141,47564,610367,337
Depreciation and impairment
At 01 July 228,37979,82319,781107,983
Charge for year6,4507,1016,63720,188
At 30 June 2314,82986,92426,418128,171
Net book value
At 30 June 23146,42354,55138,192239,166
At 30 June 22152,87336,13044,221233,224
9.Stocks

2023

2022

££
Raw materials and consumables71,05566,598
Total71,05566,598
10.Debtors

2023

2022

££
Trade debtors / trade receivables4,7169,515
Prepayments and accrued income2,8842,703
Total7,60012,218
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables56,82351,497
Bank borrowings and overdrafts6,8449,656
Taxation and social security71,29846,933
Other creditors61,68567,974
Accrued liabilities and deferred income3,0493,156
Total199,699179,216
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts13,83930,037
Total13,83930,037
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)20,75417,162
Total20,75417,162