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REGISTERED NUMBER: 01548859 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

W.H. BRADING & SON LTD

W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


W.H. BRADING & SON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: R J Hibberd
A F Hibberd
Mrs T K Hibberd





SECRETARY: Mrs T K Hibberd





REGISTERED OFFICE: 30-32 Somerton Industrial Park
Somerton
Cowes
Isle of Wight
PO31 8PA





REGISTERED NUMBER: 01548859 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 240,116 203,245

CURRENT ASSETS
Stocks 335,351 314,595
Debtors 5 701,123 505,399
Cash at bank 577,952 893,540
1,614,426 1,713,534
CREDITORS
Amounts falling due within one year 6 1,137,329 1,040,015
NET CURRENT ASSETS 477,097 673,519
TOTAL ASSETS LESS CURRENT LIABILITIES 717,213 876,764

CREDITORS
Amounts falling due after more than one
year

7

(220,980

)

(355,482

)

PROVISIONS FOR LIABILITIES (40,639 ) (31,597 )
NET ASSETS 455,594 489,685

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Capital redemption reserve 10 2,500 2,500
Retained earnings 10 438,094 472,185
SHAREHOLDERS' FUNDS 455,594 489,685

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.

W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:





R J Hibberd - Director


W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859)

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


1. STATUTORY INFORMATION

W.H. Brading & Son Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents the amount receivable by the company for goods supplied and services provided together with the income due from long term contracts, which is based where possible on the value certified to the year end, excluding VAT. Turnover is not recognised on properties being developed for resale until a sale has been completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost
Plant and machinery etc - 20% on cost and 20% on reducing balance

Stocks and work in progress
Stock is valued at the lower of cost and net realisable value.

Work in progress under contract is valued on the basis of costs to date less the costs attributable to the turnover recognised to that point.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 40 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 57,115 485,746 542,861
Additions - 79,245 79,245
Disposals - (37,353 ) (37,353 )
At 30 September 2023 57,115 527,638 584,753
DEPRECIATION
At 1 October 2022 52,826 286,790 339,616
Charge for year 2,855 37,631 40,486
Eliminated on disposal - (35,465 ) (35,465 )
At 30 September 2023 55,681 288,956 344,637
NET BOOK VALUE
At 30 September 2023 1,434 238,682 240,116
At 30 September 2022 4,289 198,956 203,245

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 658,468 445,303
Other debtors 42,655 60,096
701,123 505,399

W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 90,000 62,400
Hire purchase contracts and finance leases (see note 8)
24,608

26,445
Trade creditors 539,570 561,440
Taxation and social security 287,022 241,279
Other creditors 196,129 148,451
1,137,329 1,040,015

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 184,500 302,100
Hire purchase contracts and finance leases (see note 8)
36,480

53,382
220,980 355,482

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2023 2022 2023 2022
£    £    £    £   
Gross obligations repayable:
Within one year 9,420 8,124 17,020 21,277
Between one and five years 8,635 - 31,203 59,557
18,055 8,124 48,223 80,834

Finance charges repayable:
Within one year - - 1,832 2,956
Between one and five years - - 3,358 6,175
- - 5,190 9,131

Net obligations repayable:
Within one year 9,420 8,124 15,188 18,321
Between one and five years 8,635 - 27,845 53,382
18,055 8,124 43,033 71,703

W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859)

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


8. LEASING AGREEMENTS - continued

Operating Leases

The total future minimum lease payments under non-cancellable operating leases is £3,798 (2022 - £7,275) due at the year end.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 274,500 364,500
Hire purchase contracts and finance leases 61,088 79,827
335,588 444,327

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2022 472,185 2,500 474,685
Profit for the year 293,909 - 293,909
Dividends (328,000 ) - (328,000 )
At 30 September 2023 438,094 2,500 440,594

11. ULTIMATE CONTROLLING PARENT

The controlling party is Westcourt (Cowes) Limited.