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REGISTERED NUMBER: 05125689 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

BF DARLOW LIMITED

BF DARLOW LIMITED (REGISTERED NUMBER: 05125689)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BF DARLOW LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: K A Darlow
D M Darlow





REGISTERED OFFICE: 4 Office Village
Forder Way
Cygnet Park
Peterborough
Cambridgeshire
PE7 8GX





REGISTERED NUMBER: 05125689 (England and Wales)





ACCOUNTANTS: TC Group
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

BF DARLOW LIMITED (REGISTERED NUMBER: 05125689)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,076 1,196
Tangible assets 5 31,676 158,172
32,752 159,368

CURRENT ASSETS
Stocks 26,180 20,212
Debtors 6 543,456 666,994
Cash at bank 108,902 42,162
678,538 729,368
CREDITORS
Amounts falling due within one year 7 238,634 350,719
NET CURRENT ASSETS 439,904 378,649
TOTAL ASSETS LESS CURRENT LIABILITIES 472,656 538,017

CREDITORS
Amounts falling due after more than one
year

8

(26,863

)

(31,242

)

PROVISIONS FOR LIABILITIES 9 (25,766 ) (76,857 )
NET ASSETS 420,027 429,918

CAPITAL AND RESERVES
Called up share capital 10 200 200
Revaluation reserve 149,254 149,254
Capital redemption reserve 800 800
Retained earnings 269,773 279,664
SHAREHOLDERS' FUNDS 420,027 429,918

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

BF DARLOW LIMITED (REGISTERED NUMBER: 05125689)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





D M Darlow - Director


BF DARLOW LIMITED (REGISTERED NUMBER: 05125689)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

BF Darlow 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of seventy years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

BF DARLOW LIMITED (REGISTERED NUMBER: 05125689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

BF DARLOW LIMITED (REGISTERED NUMBER: 05125689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 2,500
AMORTISATION
At 1 June 2023 1,304
Amortisation for year 120
At 31 May 2024 1,424
NET BOOK VALUE
At 31 May 2024 1,076
At 31 May 2023 1,196

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 232,526 120,710 16,024 29,800 399,060
Additions 11,158 - - - 11,158
Disposals (172,789 ) - - - (172,789 )
At 31 May 2024 70,895 120,710 16,024 29,800 237,429
DEPRECIATION
At 1 June 2023 85,493 116,776 11,226 27,393 240,888
Charge for year 5,279 983 1,199 601 8,062
Eliminated on disposal (43,197 ) - - - (43,197 )
At 31 May 2024 47,575 117,759 12,425 27,994 205,753
NET BOOK VALUE
At 31 May 2024 23,320 2,951 3,599 1,806 31,676
At 31 May 2023 147,033 3,934 4,798 2,407 158,172

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 57,244 159,518
Amounts owed by group undertakings 486,156 507,476
Other debtors 56 -
543,456 666,994

Amounts owed by group undertakings are unsecured, interest free and repayable on demand

BF DARLOW LIMITED (REGISTERED NUMBER: 05125689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,406 40,537
Trade creditors 97,797 88,918
Corporation tax - 6
Social security and other taxes 3,140 4,480
VAT 4,960 28,953
Other creditors - (2,219 )
Lloyds credit card 4,664 335
Directors' current accounts 87,667 187,314
Accrued expenses - 2,395
238,634 350,719

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 26,863 31,242

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 25,766 76,857

Deferred
tax
£   
Balance at 1 June 2023 76,857
Credit to Income Statement during year (51,091 )
Balance at 31 May 2024 25,766

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary shares £1 200 200

11. RELATED PARTY DISCLOSURES

As at the year end, the company owed the director £87,667 (2023 - £187,314). This loan is unsecured, interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Darlow Bespoke Joinery Ltd.