Registered number
07488758
Bracstan Installations Limited
Filleted Accounts
31 January 2024
Bracstan Installations Limited
Registered number: 07488758
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 154,323 177,052
Current assets
Stocks 119,319 105,650
Debtors 4 384,275 677,199
Cash at bank and in hand 398,689 452,727
902,283 1,235,576
Creditors: amounts falling due within one year 5 (301,883) (385,906)
Net current assets 600,400 849,670
Total assets less current liabilities 754,723 1,026,722
Provisions for liabilities (18,253) (18,253)
Net assets 736,470 1,008,469
Capital and reserves
Called up share capital 100 100
Profit and loss account 736,370 1,008,369
Shareholders' funds 736,470 1,008,469
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gregory Stanton
Director
Approved by the board on 12 August 2024
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
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).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings 2% straight line
Plant and machinery 20% reducing balance
Furniture and fixtures 20% reducing balance
Vehicles 25% reducing balance
Debtors
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.
Creditors
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 94,928 122,179 175,451 392,558
Additions - 2,765 - 2,765
At 31 January 2024 94,928 124,944 175,451 395,323
Depreciation
At 1 February 2023 17,978 82,507 115,021 215,506
Charge for the year 1,899 8,487 15,108 25,494
At 31 January 2024 19,877 90,994 130,129 241,000
Net book value
At 31 January 2024 75,051 33,950 45,322 154,323
At 31 January 2023 76,950 39,672 60,430 177,052
4 Debtors 2024 2023
£ £
Trade debtors 379,045 677,199
Other debtors 5,230 -
384,275 677,199
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,685 6,749
Trade creditors 83,872 45,519
Taxation and social security costs 62,823 184,955
Other creditors 152,503 148,683
301,883 385,906
6 Other information
Bracstan Installations Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Ashleigh Crescent
Wheaton Aston
Stafford
ST19 9PN
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