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REGISTERED NUMBER: 04398480 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2024

for

R J Binnie Limited

R J Binnie Limited (Registered number: 04398480)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


R J Binnie Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R J Binnie
N Binnie





REGISTERED OFFICE: Bays 3 & 4, Block 56
The Whittle Estate
Cambridge Road
Whetstone
Leicestershire
LE8 6LH





REGISTERED NUMBER: 04398480 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
R J Binnie Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R J Binnie Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of R J Binnie Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R J Binnie Limited and state those matters that we have agreed to state to the Board of Directors of R J Binnie Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R J Binnie Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R J Binnie Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R J Binnie Limited. You consider that R J Binnie Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R J Binnie Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


2 September 2024

R J Binnie Limited (Registered number: 04398480)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 207,039 121,936

CURRENT ASSETS
Stocks 1,990,812 2,159,207
Debtors 5 1,164,923 1,116,554
Cash at bank 58,387 47,709
3,214,122 3,323,470
CREDITORS
Amounts falling due within one year 6 1,317,735 1,167,062
NET CURRENT ASSETS 1,896,387 2,156,408
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,103,426

2,278,344

CREDITORS
Amounts falling due after more than
one year

7

(116,127

)

(121,076

)

PROVISIONS FOR LIABILITIES (50,095 ) (30,484 )
NET ASSETS 1,937,204 2,126,784

CAPITAL AND RESERVES
Called up share capital 9 250 250
Share premium 249,875 249,875
Retained earnings 1,687,079 1,876,659
SHAREHOLDERS' FUNDS 1,937,204 2,126,784

R J Binnie Limited (Registered number: 04398480)

Balance Sheet - continued
31 March 2024


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

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

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





R J Binnie - Director


R J Binnie Limited (Registered number: 04398480)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

R J Binnie 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 represents net invoiced sales of goods, excluding value added tax and is recognised on the date of despatch.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Alterations leasehold property - 33% straight line basis
Plant and machinery - 20% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated 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 stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


R J Binnie Limited (Registered number: 04398480)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to income as incurred.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 35 ) .

R J Binnie Limited (Registered number: 04398480)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Alterations Fixtures
leasehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 52,016 218,145 17,028 129,438 416,627
Additions 42,138 11,801 4,791 117,035 175,765
Disposals - (19,667 ) - (51,563 ) (71,230 )
At 31 March 2024 94,154 210,279 21,819 194,910 521,162
DEPRECIATION
At 1 April 2023 52,016 165,304 12,103 65,268 294,691
Charge for year 13,905 12,445 1,457 40,173 67,980
Eliminated on disposal - (17,232 ) - (31,316 ) (48,548 )
At 31 March 2024 65,921 160,517 13,560 74,125 314,123
NET BOOK VALUE
At 31 March 2024 28,233 49,762 8,259 120,785 207,039
At 31 March 2023 - 52,841 4,925 64,170 121,936

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 905,323 1,005,214
Other debtors - 1,000
Prepayments and accrued income 259,600 110,340
1,164,923 1,116,554

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 49,000 49,000
Invoice discounting facility 460,364 349,743
Hire purchase contracts 54,337 34,709
Trade creditors 507,487 564,640
Corporation tax 5,974 55,617
Social security and other taxes 24,415 25,450
VAT 92,597 70,322
Other creditors 64,331 4,487
Directors' current accounts 492 286
Accruals and deferred income 58,738 12,808
1,317,735 1,167,062

R J Binnie Limited (Registered number: 04398480)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 53,104 49,000
Bank loans - 2-5 years - 53,104
Hire purchase contracts 63,023 18,972
116,127 121,076

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Invoice discounting facility 460,364 349,743
Hire purchase contracts 117,360 53,681
577,724 403,424

The bank overdraft is secured by fixed and floating charge to Barclays Bank Ltd.
The invoice discounting facility is secured on the debts to which it relates.
The hire purchase contracts are secured on the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
250 Ordinary £1 250 250

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amounted to £1,548,860 (2023 £365,928).