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REGISTERED NUMBER: 04296344 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

B3 SHOPFITTING LIMITED

B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 240,827 196,162

CURRENT ASSETS
Stocks 65,000 65,000
Debtors 5 1,672,259 1,929,211
Cash at bank and in hand 78,244 318
1,815,503 1,994,529
CREDITORS
Amounts falling due within one year 6 (1,620,887 ) (1,777,884 )
NET CURRENT ASSETS 194,616 216,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

435,443

412,807

CREDITORS
Amounts falling due after more than one
year

7

(342,384

)

(367,166

)

PROVISIONS FOR LIABILITIES (38,497 ) (19,021 )
NET ASSETS 54,562 26,620

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 54,262 26,320
54,562 26,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2023 and were signed on its behalf by:





Mr M S Blackburn - Director


B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

B3 SHOPFITTING LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04296344

Registered office: The Curve
Diamond Way
Stone Business Park
Stone
Staffordshire
ST15 0SD

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See the notes to the financial statements for the net carrying amount of the debtors.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 10% on cost
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.


B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

DEFINED CONTRIBUTION PLANS
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

CONSTRUCTION CONTRACTS
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.

Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised.

Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue.

The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022 172,962 326,120 96,027 435,367 1,030,476
Additions - - 1,515 127,503 129,018
At 30 September 2023 172,962 326,120 97,542 562,870 1,159,494
DEPRECIATION
At 1 October 2022 157,910 293,537 85,030 297,837 834,314
Charge for year 6,822 9,712 1,561 66,258 84,353
At 30 September 2023 164,732 303,249 86,591 364,095 918,667
NET BOOK VALUE
At 30 September 2023 8,230 22,871 10,951 198,775 240,827
At 30 September 2022 15,052 32,583 10,997 137,530 196,162

B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 1,317,496 1,559,155
Amounts owed by group undertakings 209,677 216,931
Other debtors 145,086 153,125
1,672,259 1,929,211

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 57,383 203,019
Hire purchase contracts (see note 8) 37,776 53,972
Trade creditors 949,400 963,415
Taxation and social security 404,901 478,000
Other creditors 171,427 79,478
1,620,887 1,777,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 209,461 290,701
Hire purchase contracts (see note 8) 132,923 76,465
342,384 367,166

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments - 30,854
- 30,854

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 37,776 53,972
Between one and five years 132,923 76,465
170,699 130,437

B3 SHOPFITTING LIMITED (REGISTERED NUMBER: 04296344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 11,148 14,240
Between one and five years 20,735 3,000
31,883 17,240

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
Mr P J S Blackburn
Balance outstanding at start of year 81,659 116,825
Amounts advanced 147,784 80,112
Amounts repaid (176,000 ) (115,278 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,443 81,659

Mr M S Blackburn
Balance outstanding at start of year 48,145 51,561
Amounts advanced 182,172 147,077
Amounts repaid (160,500 ) (150,493 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,817 48,145

10. RELATED PARTY DISCLOSURES

During the year the company undertook transactions with related parties, as follows:

1) B3 Property Investments Limited, a connected company
2023
£
Amounts owed by related party at 1 October 2022 216,931
Movement in year -7,254
Amounts owed by related party at 30 September 2023 209,677

11. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.