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BRAINTREE MOTOR WORKS LTD

Registered Number
08286223
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

BRAINTREE MOTOR WORKS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

HEARD, Anthony John

Registered Address

1st Floor, 11 Freeport Office Village
Century Drive
Braintree
CM77 8YG

Place of Business

Unit 4 Harrison Drive

Braintree

Essex

CM7 1DE


Registered Number

08286223 (England and Wales)
BRAINTREE MOTOR WORKS LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets330,45633,384
30,45633,384
Current assets
Stocks442,42349,536
Debtors5245,432160,507
Cash at bank and on hand564119
288,419210,162
Creditors amounts falling due within one year6(194,912)(167,092)
Net current assets (liabilities)93,50743,070
Total assets less current liabilities123,96376,454
Creditors amounts falling due after one year7(20,000)(30,115)
Provisions for liabilities8(7,614)(6,343)
Net assets96,34939,996
Capital and reserves
Called up share capital100100
Profit and loss account96,24939,896
Shareholders' funds96,34939,996
The financial statements were approved and authorised for issue by the Director on 28 August 2024, and are signed on its behalf by:
HEARD, Anthony John
Director
Registered Company No. 08286223
BRAINTREE MOTOR WORKS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year1313
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 December 2271,8441,85023,26613,092110,052
Additions5,779--8876,666
At 30 November 2377,6231,85023,26613,979116,718
Depreciation and impairment
At 01 December 2251,5881,60315,1658,31276,668
Charge for year6,126622,0251,3819,594
At 30 November 2357,7141,66517,1909,69386,262
Net book value
At 30 November 2319,9091856,0764,28630,456
At 30 November 2220,2562478,1014,78033,384
4.Stocks

2023

2022

££
Work in progress37,42325,844
Finished goods5,00023,692
Total42,42349,536
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables142,408101,986
Amounts owed by associates and joint ventures / participating interests100,35150,503
Prepayments and accrued income2,6738,018
Total245,432160,507
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables79,47194,993
Bank borrowings and overdrafts23,46333,311
Amounts owed to related parties5,7619,651
Taxation and social security70,33014,393
Other creditors15,88712,442
Accrued liabilities and deferred income-2,302
Total194,912167,092
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.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts20,00030,115
Total20,00030,115
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)7,6146,343
Total7,6146,343
9.Directors advances, credits and guarantees
During the year the following advances and credits were made to directors, advances £34,121 (2022 :£38,821) credits £52,020 (2022 : £35,908), year end balance £1,092 (2022 : £16,807). Interest has been charged at 2%.