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BRUCE COLE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024






BRUCE COLE LIMITED (REGISTERED NUMBER: 04469619)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRUCE COLE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024







DIRECTOR: B T F Cole





SECRETARY: S J Cole





REGISTERED OFFICE: International Drive
Tewkesbury Business Park
Tewkesbury
Gloucestershire
GL20 8UQ





REGISTERED NUMBER: 04469619 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

BRUCE COLE LIMITED (REGISTERED NUMBER: 04469619)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 63,279
- 63,279

CURRENT ASSETS
Debtors 6 116,921 689,623
Cash at bank 1,382,919 1,085,657
1,499,840 1,775,280
CREDITORS
Amounts falling due within one year 7 53,377 424,139
NET CURRENT ASSETS 1,446,463 1,351,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,446,463

1,414,420

PROVISIONS FOR LIABILITIES 8 - 15,820
NET ASSETS 1,446,463 1,398,600

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 1,446,363 1,398,500
SHAREHOLDERS' FUNDS 1,446,463 1,398,600

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BRUCE COLE LIMITED (REGISTERED NUMBER: 04469619)

BALANCE SHEET - continued
31 JULY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





B T F Cole - Director


BRUCE COLE LIMITED (REGISTERED NUMBER: 04469619)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024

1. STATUTORY INFORMATION

Bruce Cole 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise are being amortised evenly over their estimated useful life of twenty years.

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
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

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.

BRUCE COLE LIMITED (REGISTERED NUMBER: 04469619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 41 (2023 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
£   
COST
At 1 July 2023 81,890
Disposals (81,890 )
At 31 July 2024 -
AMORTISATION
At 1 July 2023 81,890
Eliminated on disposal (81,890 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 19,525 145,336 2,343 167,204
Additions 3,499 - - 3,499
Disposals (23,024 ) (145,336 ) (2,343 ) (170,703 )
At 31 July 2024 - - - -
DEPRECIATION
At 1 July 2023 15,005 87,944 976 103,925
Charge for period 2,074 9,566 371 12,011
Eliminated on disposal (17,079 ) (97,510 ) (1,347 ) (115,936 )
At 31 July 2024 - - - -
NET BOOK VALUE
At 31 July 2024 - - - -
At 30 June 2023 4,520 57,392 1,367 63,279

BRUCE COLE LIMITED (REGISTERED NUMBER: 04469619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 546,253
Other debtors 91,013 -
Directors' current accounts - 89,716
Tax 25,908 25,908
Prepayments - 27,746
116,921 689,623

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 170,581
Tax 53,262 82,605
Social security and other taxes - 23,996
VAT 47 137,195
Other creditors - 3,637
Directors' current accounts 68 -
Accruals - 6,125
53,377 424,139

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 15,820

Deferred
tax
£   
Balance at 1 July 2023 15,820
Credit to Statement of Income and Retained Earnings during period (15,820 )
Accelerated capital allowances
Balance at 31 July 2024 -

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Share capital 1 £1 100 100

BRUCE COLE LIMITED (REGISTERED NUMBER: 04469619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024

10. RESERVES
Retained
earnings
£   

At 1 July 2023 1,398,500
Profit for the period 115,163
Dividends (67,300 )
At 31 July 2024 1,446,363

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 July 2024 and the year ended 30 June 2023:

2024 2023
£    £   
B T F Cole
Balance outstanding at start of period 89,716 91,418
Amounts advanced - 13,898
Amounts repaid (89,716 ) (15,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 89,716

Interest is charged on the loan balance at the official rate of interest.

12. RELATED PARTY DISCLOSURES

Included within other debtors is £91,013 owed by Mr S J Cole. Interest is being charge at the official rate.