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Registered number: 05549645
Bexleys Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Jon Davies Accountants Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05549645
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,600 3,900
Tangible Assets 5 90,659 123,599
93,259 127,499
CURRENT ASSETS
Stocks 6 86,070 51,814
Debtors 7 250,922 200,895
Cash at bank and in hand 439,755 568,503
776,747 821,212
Creditors: Amounts Falling Due Within One Year 8 (324,300 ) (323,054 )
NET CURRENT ASSETS (LIABILITIES) 452,447 498,158
TOTAL ASSETS LESS CURRENT LIABILITIES 545,706 625,657
Creditors: Amounts Falling Due After More Than One Year 9 (133,134 ) (206,809 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,226 ) (23,484 )
NET ASSETS 395,346 395,364
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 395,146 395,164
SHAREHOLDERS' FUNDS 395,346 395,364
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Brereton
Director
Mr Martin Brereton
Director
19 March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bexleys Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05549645 . The registered office is 611 West Derby Road, Liverpool, L13 8AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 20% straight line
Fixtures & Fittings 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 37 (2022: 40)
37 40
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2022 26,000
As at 30 September 2023 26,000
Amortisation
As at 1 October 2022 22,100
Provided during the period 1,300
As at 30 September 2023 23,400
Net Book Value
As at 30 September 2023 2,600
As at 1 October 2022 3,900
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 October 2022 352,637 75,600 43,589 471,826
Additions 6,829 - - 6,829
As at 30 September 2023 359,466 75,600 43,589 478,655
Depreciation
As at 1 October 2022 263,264 45,360 39,603 348,227
Provided during the period 24,051 15,120 598 39,769
As at 30 September 2023 287,315 60,480 40,201 387,996
Net Book Value
As at 30 September 2023 72,151 15,120 3,388 90,659
As at 1 October 2022 89,373 30,240 3,986 123,599
6. Stocks
2023 2022
£ £
Finished goods 86,070 51,814
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 236,087 197,872
Prepayments and accrued income 4,133 3,023
Other debtors 5,702 -
Other taxes and social security 5,000 -
250,922 200,895
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 197,407 194,223
Bank loans and overdrafts 73,574 67,603
Corporation tax 38,641 37,508
Other taxes and social security - 10,289
VAT 7,267 8,068
Other creditors 3,483 960
Pension liability - 651
Accruals and deferred income 3,846 3,670
Directors' loan accounts 82 82
324,300 323,054
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 133,134 206,809
133,134 206,809
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
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