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REGISTERED NUMBER: 07666247 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31st May 2024

for

Betts Of Brandon Limited

Betts Of Brandon Limited (Registered number: 07666247)






Contents of the Financial Statements
for the year ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Betts Of Brandon Limited

Company Information
for the year ended 31st May 2024







DIRECTORS: Mr B Betts
Mr N A J Betts





REGISTERED OFFICE: The Yard Fengate Drove
Weeting
Brandon
Suffolk
IP27 0PW





REGISTERED NUMBER: 07666247 (England and Wales)





ACCOUNTANTS: TWR Accountants
The Old Registrars
57a High Street
Brandon
Suffolk
IP27 0AU

Betts Of Brandon Limited (Registered number: 07666247)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,067 69,224

CURRENT ASSETS
Stocks 3,275 13,526
Debtors 5 6,818 15,124
Cash at bank 6,422 49
16,515 28,699
CREDITORS
Amounts falling due within one year 6 98,417 96,728
NET CURRENT LIABILITIES (81,902 ) (68,029 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,165 1,195

CAPITAL AND RESERVES
Called up share capital 490 490
Retained earnings 7 5,675 705
6,165 1,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 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.

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 28th July 2024 and were signed on its behalf by:




Mr N A J Betts - Director


Betts Of Brandon Limited (Registered number: 07666247)

Notes to the Financial Statements
for the year ended 31st May 2024

1. STATUTORY INFORMATION

Betts Of Brandon Limited 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its directors. The financial statements do not include any adjustments that would result if such support is not continuing.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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.

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.

Betts Of Brandon Limited (Registered number: 07666247)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1st June 2023 68,493 1,852 399 70,744
Additions 19,026 - - 19,026
At 31st May 2024 87,519 1,852 399 89,770
DEPRECIATION
At 1st June 2023 - 1,247 273 1,520
Charge for year - 151 32 183
At 31st May 2024 - 1,398 305 1,703
NET BOOK VALUE
At 31st May 2024 87,519 454 94 88,067
At 31st May 2023 68,493 605 126 69,224

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,586 -
Directors' loan accounts - 9,639
Tax 3,133 3,133
VAT - 2,352
Prepayments 2,099 -
6,818 15,124

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,472 50,725
Trade creditors 32,061 38,587
Tax 5,900 2,141
Social security and other taxes 1,068 2,724
VAT 1,515 -
Directors' loan accounts 10,541 826
Accrued expenses 1,860 1,725
98,417 96,728

Betts Of Brandon Limited (Registered number: 07666247)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

7. RESERVES
Retained
earnings
£   

At 1st June 2023 705
Profit for the year 24,970
Dividends (20,000 )
At 31st May 2024 5,675

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

2024 2023
£    £   
Mr B Betts
Balance outstanding at start of year 9,639 9,639
Amounts advanced 125 -
Amounts repaid (9,800 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (36 ) 9,639

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr N A J Betts.