0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08279057 2022-12-01 2023-11-30 08279057 2023-11-30 08279057 2022-11-30 08279057 2021-12-01 2022-11-30 08279057 2022-11-30 08279057 2021-11-30 08279057 bus:Director1 2022-12-01 2023-11-30 08279057 bus:Director2 2022-12-01 2023-11-30 08279057 core:PlantMachinery 2022-11-30 08279057 core:FurnitureFittings 2022-11-30 08279057 core:MotorVehicles 2022-11-30 08279057 core:PlantMachinery 2023-11-30 08279057 core:FurnitureFittings 2023-11-30 08279057 core:MotorVehicles 2023-11-30 08279057 core:PlantMachinery 2022-12-01 2023-11-30 08279057 core:FurnitureFittings 2022-12-01 2023-11-30 08279057 core:MotorVehicles 2022-12-01 2023-11-30 08279057 core:WithinOneYear 2023-11-30 08279057 core:WithinOneYear 2022-11-30 08279057 core:AfterOneYear 2023-11-30 08279057 core:AfterOneYear 2022-11-30 08279057 core:ShareCapital 2023-11-30 08279057 core:ShareCapital 2022-11-30 08279057 core:RetainedEarningsAccumulatedLosses 2023-11-30 08279057 core:RetainedEarningsAccumulatedLosses 2022-11-30 08279057 core:PlantMachinery 2022-11-30 08279057 core:FurnitureFittings 2022-11-30 08279057 core:MotorVehicles 2022-11-30 08279057 bus:SmallEntities 2022-12-01 2023-11-30 08279057 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08279057 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08279057 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08279057 bus:FullAccounts 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 08279057
Brampton Valley Group Limited
Filleted Unaudited Financial Statements
30 November 2023
Brampton Valley Group Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
404,565
360,688
Current assets
Debtors
6
163,623
103,903
Cash at bank and in hand
42,169
44,381
---------
---------
205,792
148,284
Creditors: amounts falling due within one year
7
80,732
88,330
---------
---------
Net current assets
125,060
59,954
---------
---------
Total assets less current liabilities
529,625
420,642
Creditors: amounts falling due after more than one year
8
261,647
214,213
---------
---------
Net assets
267,978
206,429
---------
---------
Capital and reserves
Called up share capital
80
80
Profit and loss account
267,898
206,349
---------
---------
Shareholders funds
267,978
206,429
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Brampton Valley Group Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Mr. D Wood
Mrs. H Wood
Director
Director
Company registration number: 08279057
Brampton Valley Group Limited
Notes to the Financial Statements
Year ended 30 November 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 Unit 10a York Farm Business Centre, Towcester, Northamptonshire, NN12 8EU.
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 profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, 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 in equity, respectively. 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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 profit or loss. 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 profit or loss.
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:
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.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2022
324,467
11,934
116,283
2,457
455,141
Additions
81,072
2,989
52,495
171
136,727
Disposals
( 54,996)
( 4,000)
( 58,996)
---------
--------
---------
-------
---------
At 30 November 2023
350,543
14,923
164,778
2,628
532,872
---------
--------
---------
-------
---------
Depreciation
At 1 December 2022
67,937
10,814
15,472
230
94,453
Charge for the year
25,861
597
14,923
389
41,770
Disposals
( 5,499)
( 2,417)
( 7,916)
---------
--------
---------
-------
---------
At 30 November 2023
88,299
11,411
27,978
619
128,307
---------
--------
---------
-------
---------
Carrying amount
At 30 November 2023
262,244
3,512
136,800
2,009
404,565
---------
--------
---------
-------
---------
At 30 November 2022
256,530
1,120
100,811
2,227
360,688
---------
--------
---------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
158,931
98,881
Other debtors
4,692
5,022
---------
---------
163,623
103,903
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
24,375
40,625
Trade creditors
36,286
22,585
Corporation tax
7,288
Social security and other taxes
11,922
21,058
Other creditors
861
4,062
--------
--------
80,732
88,330
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
132,808
214,213
---------
---------