12 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 347958 2023-01-01 2023-12-31 347958 2023-12-31 347958 2022-12-31 347958 2022-01-01 2022-12-31 347958 2022-12-31 347958 core:PlantMachinery 2023-01-01 2023-12-31 347958 core:FurnitureFittings 2023-01-01 2023-12-31 347958 core:MotorVehicles 2023-01-01 2023-12-31 347958 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 347958 bus:PreferenceShareClass1 2023-01-01 2023-12-31 347958 bus:Director4 2023-01-01 2023-12-31 347958 core:WithinOneYear 2023-12-31 347958 core:WithinOneYear 2022-12-31 347958 core:LandBuildings 2022-12-31 347958 core:PlantMachinery 2022-12-31 347958 core:FurnitureFittings 2022-12-31 347958 core:MotorVehicles 2022-12-31 347958 core:LandBuildings 2023-12-31 347958 core:PlantMachinery 2023-12-31 347958 core:FurnitureFittings 2023-12-31 347958 core:MotorVehicles 2023-12-31 347958 core:LandBuildings 2023-01-01 2023-12-31 347958 core:AfterOneYear 2023-12-31 347958 core:AfterOneYear 2022-12-31 347958 core:ShareCapital 2023-12-31 347958 core:ShareCapital 2022-12-31 347958 core:SharePremium 2023-12-31 347958 core:SharePremium 2022-12-31 347958 core:RetainedEarningsAccumulatedLosses 2023-12-31 347958 core:RetainedEarningsAccumulatedLosses 2022-12-31 347958 1 core:AfterOneYear 2023-12-31 347958 1 core:AfterOneYear 2022-12-31 347958 core:LandBuildings 2022-12-31 347958 core:PlantMachinery 2022-12-31 347958 core:FurnitureFittings 2022-12-31 347958 core:MotorVehicles 2022-12-31 347958 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-12-31 347958 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2022-12-31 347958 bus:SmallEntities 2023-01-01 2023-12-31 347958 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 347958 bus:FullAccounts 2023-01-01 2023-12-31 347958 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 347958 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 347958 bus:OrdinaryShareClass1 2023-12-31 347958 bus:OrdinaryShareClass1 2022-12-31 347958 bus:PreferenceShareClass1 2023-12-31 347958 bus:PreferenceShareClass1 2022-12-31 347958 core:CapitalReserve 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 347958
R. BILLER & CO LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
R. BILLER & CO LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
94,821
240,911
Current assets
Stocks
178,367
108,481
Debtors
6
279,485
275,393
Cash at bank and in hand
103,342
113,954
---------
---------
561,194
497,828
Creditors: amounts falling due within one year
7
383,489
161,861
---------
---------
Net current assets
177,705
335,967
---------
---------
Total assets less current liabilities
272,526
576,878
Creditors: amounts falling due after more than one year
8
10,958
5,292
Provisions
Taxation including deferred tax
1,411
2,639
---------
---------
Net assets
260,157
568,947
---------
---------
Capital and reserves
Called up share capital
9
18,350
18,350
Share premium account
10
10,850
10,850
Profit and loss account
10
230,957
539,747
---------
---------
Shareholders funds
260,157
568,947
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
R. BILLER & CO LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 15 August 2024 , and are signed on behalf of the board by:
Mr A Rrecaj
Director
Company registration number: 347958
R. BILLER & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22-36 Charles Street, Strood, Rochester, Kent, ME2 2BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each year end. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Statement of cash flows
The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Revenue refers to the revenue earned from the Company's principal activity; that of wholesale motor accessory factors.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Tangible assets
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 the statement of comprehensive income. 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 the statement of comprehensive income.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
20% straight line
Fixtures & Fittings
-
10% reducing balance
Motor Vehicles
-
25% reducing balance
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the statement of comprehensive income unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 14 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
200,000
12,877
19,803
48,438
281,118
Additions
22,450
16,385
28,411
67,246
Disposals
( 200,000)
( 200,000)
---------
--------
--------
--------
---------
At 31 December 2023
22,450
12,877
36,188
76,849
148,364
---------
--------
--------
--------
---------
Depreciation
At 1 January 2023
9,162
17,536
13,509
40,207
Charge for the year
2,228
365
10,743
13,336
---------
--------
--------
--------
---------
At 31 December 2023
11,390
17,901
24,252
53,543
---------
--------
--------
--------
---------
Carrying amount
At 31 December 2023
22,450
1,487
18,287
52,597
94,821
---------
--------
--------
--------
---------
At 31 December 2022
200,000
3,715
2,267
34,929
240,911
---------
--------
--------
--------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 December 2023
34,651
--------
At 31 December 2022
28,150
--------
6. Debtors
2023
2022
£
£
Trade debtors
174,738
252,756
Other debtors
104,747
22,637
---------
---------
279,485
275,393
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
197,238
107,034
Accruals and deferred income
10,281
3,563
Corporation tax
5,775
3,279
Social security and other taxes
15,913
39,330
Obligations under finance leases and hire purchase contracts
10,041
8,655
Director loan accounts
60,000
Other creditors
84,241
---------
---------
383,489
161,861
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Shares classed as financial liabilities
2,500
2,500
Obligations under finance leases and hire purchase contracts
8,458
2,792
--------
-------
10,958
5,292
--------
-------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Amounts presented in equity:
Ordinary shares of £1 each shares of £ 1 each
18,350
18,350
18,350
18,350
--------
--------
--------
--------
Amounts presented in liabilities:
Preference shares of £1 each shares of £ 1 each
2,500
2,500
2,500
2,500
-------
-------
-------
-------
The preference shares are redeemable on winding up or earlier if the company so decides. These shares carry the right to a dividend of 5.5% of the nominal value of the share plus any unpaid arrears. They also rank ahead of the ordinary share holders in the event of the company being wound up. There was no movement on the share premium account during the financial year.
10. Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.