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REGISTERED NUMBER: 01052886 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 April 2024

for

Bermar Building Company Limited

Bermar Building Company Limited (Registered number: 01052886)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 9

Statement of Financial Position 10

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14


Bermar Building Company Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: R Moon
J S Ludkin
M P Kelly
R A J Moon
S J Ludkin
S B Smith
D Smith



SECRETARY: R Moon



REGISTERED OFFICE: Unit 2
Bull Royd Industrial Estate
Bull Royd Lane
Bradford
West Yorkshire
BD8 0LH



REGISTERED NUMBER: 01052886 (England and Wales)



SENIOR STATUTORY AUDITOR: Catherine Hill FCA CTA



AUDITORS: Stirk Lambert & Co
Chartered Accountants
Statutory Auditors
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Bermar Building Company Limited (Registered number: 01052886)

Strategic Report
for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

The principal activity of the company is that of builders and building contractors.

REVIEW OF BUSINESS
The company has continued to trade successfully in the year and is expected to continue to do so for the foreseeable future. We consider our key financial performance indicators to be turnover and profit. The turnover for the year was £18,222,655 compared to £17,414,059 in 2023.

The company has achieved operating profit of £1,659,314 (2023 £1,457,881), and profit before tax of £1,828,343 (2023 £1,537,849).

The company has a strong liquid balance sheet with net assets of £2,711,905 (2023 £2,591,045). Consequently, we have adopted for the going concern basis of accounting.

PRINCIPAL RISKS AND UNCERTAINTIES
The company operates on a prudent basis having built up substantial cash reserves. The company does not utilise hedge transactions or similar. The company maintains a good working relationship with its bank.

ON BEHALF OF THE BOARD:





R A J Moon - Director


28 August 2024

Bermar Building Company Limited (Registered number: 01052886)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of builders and building contractors.

DIVIDENDS
The total dividends paid in the year amounted to £1,245,000 (2023: £1,198,960)

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 May 2023 to the date of this report.

The beneficial interests of the directors holding office at 30 April 2024 in the shares of the company, according to the register of directors' interests, were as follows:

30.4.24 1.5.23
Ordinary shares of £1 each
R Moon 450 750
J S Ludkin 500 500
M P Kelly - -
R A J Moon 2,100 2,250
S J Ludkin 1,500 1,500
S B Smith - -
D Smith - -

These directors did not hold any non-beneficial interests in the shares of the company.

CHARITABLE DONATIONS AND EXPENDITURE
The company contributed £2,656 (2023 £2,171) to charities during the year.

DISCLOSURE IN THE STRATEGIC REPORT
Information relating to the review of the business, the principal risks and uncertainties facing the business, and the future development of the business are disclosed via the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Bermar Building Company Limited (Registered number: 01052886)

Report of the Directors
for the Year Ended 30 April 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Stirk Lambert & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R A J Moon - Director


28 August 2024

Report of the Independent Auditors to the Members of
Bermar Building Company Limited

Opinion
We have audited the financial statements of Bermar Building Company Limited (the 'company') for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Bermar Building Company Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Bermar Building Company Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to
instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud and
- considered the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias;
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims and
- reviewing correspondence with HMRC and relevant regulators

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Bermar Building Company Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Catherine Hill FCA CTA (Senior Statutory Auditor)
for and on behalf of Stirk Lambert & Co
Chartered Accountants
Statutory Auditors
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

28 August 2024

Bermar Building Company Limited (Registered number: 01052886)

Statement of Income and
Retained Earnings
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 4 18,222,655 17,414,059

Cost of sales (13,675,822 ) (14,533,464 )
GROSS PROFIT 4,546,833 2,880,595

Administrative expenses (2,935,838 ) (1,499,542 )
1,610,995 1,381,053

Other operating income 5 48,319 76,828
OPERATING PROFIT 7 1,659,314 1,457,881

Interest receivable and similar income 169,029 79,968
PROFIT BEFORE TAXATION 1,828,343 1,537,849

Tax on profit 8 (457,483 ) (191,591 )
PROFIT FOR THE FINANCIAL YEAR 1,370,860 1,346,258

Retained earnings at beginning of year 2,586,045 2,438,747

Dividends 9 (1,245,000 ) (1,198,960 )

RETAINED EARNINGS AT END OF
YEAR

2,711,905

2,586,045

Bermar Building Company Limited (Registered number: 01052886)

Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 10 45,311 60,755
Investment property 11 830,000 830,000
875,311 890,755

CURRENT ASSETS
Debtors 12 3,954,746 2,246,698
Cash at bank and in hand 3,747,015 3,558,705
7,701,761 5,805,403
CREDITORS
Amounts falling due within one year 13 (5,853,752 ) (4,095,348 )
NET CURRENT ASSETS 1,848,009 1,710,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,723,320

2,600,810

PROVISIONS FOR LIABILITIES 14 (6,415 ) (9,765 )
NET ASSETS 2,716,905 2,591,045

CAPITAL AND RESERVES
Called up share capital 15 5,000 5,000
Retained earnings 16 2,711,905 2,586,045
SHAREHOLDERS' FUNDS 2,716,905 2,591,045

Bermar Building Company Limited (Registered number: 01052886)

Statement of Financial Position - continued
30 April 2024



The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





R A J Moon - Director


Bermar Building Company Limited (Registered number: 01052886)

Statement of Cash Flows
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,763,563 (91,274 )
Tax paid (497,382 ) (53,289 )
Net cash from operating activities 1,266,181 (144,563 )

Cash flows from investing activities
Purchase of tangible fixed assets (16,905 ) (43,587 )
Sale of tangible fixed assets 8,317 17,900
Interest received 169,029 79,967
Net cash from investing activities 160,441 54,280

Cash flows from financing activities
Amount introduced by directors 15,472 4,274
Amount withdrawn by directors (8,784 ) (15,472 )
Equity dividends paid (1,245,000 ) (1,198,960 )
Net cash from financing activities (1,238,312 ) (1,210,158 )

Increase/(decrease) in cash and cash equivalents 188,310 (1,300,441 )
Cash and cash equivalents at beginning of
year

2

3,558,705

4,859,146

Cash and cash equivalents at end of year 2 3,747,015 3,558,705

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Statement of Cash Flows
for the Year Ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
30.4.24 30.4.23
£    £   
Profit before taxation 1,828,343 1,537,849
Depreciation charges 32,349 28,299
Profit on disposal of fixed assets (8,317 ) (17,900 )
Finance income (169,029 ) (79,968 )
1,683,346 1,468,280
Increase in trade and other debtors (1,714,736 ) (431,755 )
Increase/(decrease) in trade and other creditors 1,794,953 (1,127,799 )
Cash generated from operations 1,763,563 (91,274 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 3,747,015 3,558,705
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 3,558,705 4,859,146


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank and in hand 3,558,705 188,310 3,747,015
3,558,705 188,310 3,747,015
Total 3,558,705 188,310 3,747,015

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Bermar Building Company 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

However, the nature of estimation means that actual outcomes could differ from those estimates.

The most significant judgements and estimates relate to Revenue Recognition.

Revenue recognition
The Company's activities relates to long term contracts. These contracts require estimates to be made for contract costs and revenues, of which the expected outcome of long term contractual obligations can span more than one period. Management bases its judgements of contract costs and revenues on the latest available information which included contract valuations. The amount of profit attributable to the stage of completion of a long-term contract is recognised when the outcome of the contract can be foreseen with reasonable certainty. This stage of completion method places importance on accurate estimates of the extent of progress towards completion and may involve estimates on the scope of service required for fulfilling the contractual obligation. These significant estimates include total contract costs, total contract revenues, contract risks and other judgements, such changes in estimates, may lead to an increase or decrease in revenues. Full provision is made for all known or expected losses on individual contracts once such losses are foreseen.

Property rents received represents rental income receivable during the period excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Site plant - 15% on reducing balance
Office equipment - 33% on cost and 15% on reducing balance
Motor vehicles - 25% on cost

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised using the performance model.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits
The company operates defined contribution pension schemes. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the schemes.

Operating leases
Property rents receivable less related expenses are accounted for on a straight line basis over the period of each lease, and are included within other operating income.

Contracts
The majority of contract work in progress is considered to be long term. Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover represents the value of the work done during the year. Full provision is made for contract losses in the year in which they are first foreseen.

4. TURNOVER

Turnover relates to UK activity for both the current and previous year.

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. OTHER OPERATING INCOME
30.4.24 30.4.23
£    £   
Property rents receivable 80,157 85,484
Sundry receipts 7,385 7,082
Less: expenses thereon (39,223 ) (20,238 )
Government grants - 4,500
48,319 76,828

6. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries 3,415,288 2,192,903
Social security costs 413,392 253,332
Other pension costs 69,380 54,495
3,898,060 2,500,730

The average number of employees during the year was as follows:
30.4.24 30.4.23

49 49

30.4.24 30.4.23
£    £   
Directors' remuneration 1,890,316 827,287
Directors' pension contributions to money purchase schemes 30,500 14,500

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 4

Information regarding the highest paid director is as follows:
30.4.24 30.4.23
£    £   
Emoluments etc 621,242 209,252
Pension contributions to money purchase schemes 4,000 4,500

7. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.4.24 30.4.23
£    £   
Operating lease income (80,157 ) (85,484 )
Depreciation - owned assets 32,349 28,298
Profit on disposal of fixed assets (8,317 ) (17,900 )
Auditors' remuneration 12,300 14,925

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.4.24 30.4.23
£    £   
Current tax:
UK corporation tax 460,833 297,382

Deferred taxation (3,350 ) (105,791 )
Tax on profit 457,483 191,591

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.4.24 30.4.23
£    £   
Profit before tax 1,828,343 1,537,849
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

457,086

292,191

Effects of:
Expenses not deductible for tax purposes 167 754
Depreciation in excess of capital allowances 3,580 7,838

Deferred tax movement (3,350 ) (105,791 )

Profit on sale of assets - (3,401 )
year


Total tax charge 457,483 191,591

9. DIVIDENDS
30.4.24 30.4.23
£    £   
Final dividend paid 1,245,000 1,198,960

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. TANGIBLE FIXED ASSETS
Site Office Motor
plant equipment vehicles Totals
£    £    £    £   
COST
At 1 May 2023 70,530 139,349 146,872 356,751
Additions - 16,905 - 16,905
Disposals - - (36,575 ) (36,575 )
At 30 April 2024 70,530 156,254 110,297 337,081
DEPRECIATION
At 1 May 2023 70,530 133,883 91,583 295,996
Charge for year - 9,584 22,765 32,349
Eliminated on disposal - - (36,575 ) (36,575 )
At 30 April 2024 70,530 143,467 77,773 291,770
NET BOOK VALUE
At 30 April 2024 - 12,787 32,524 45,311
At 30 April 2023 - 5,466 55,289 60,755

11. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 830,000
NET BOOK VALUE
At 30 April 2024 830,000
At 30 April 2023 830,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2009 208,136
Valuation in 2015 218,988
Valuation in 2020 150,000
Cost 252,876
830,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 252,876 252,876

Freehold land and buildings were valued on an open market basis on 9 March 2020 by Walker Singleton Chartered Surveyors .

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. INVESTMENT PROPERTY - continued

Freehold properties of the company are held for their investment potential. The directors believe the valuation of the Freehold Property at the balance sheet date reflects the open market value. The directors are members of the chartered institute of building and are therefore qualified to deem this value appropriate

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 2,473,767 1,140,691
Amounts recoverable on contracts 1,342,637 993,539
Directors' current accounts 8,784 15,472
Prepayments and accrued income 129,558 96,996
3,954,746 2,246,698

Directors' overdrawn loan accounts at 30 April 2024 were £8,784 (2023 £15,472). These figures represent the maximum outstanding in the year.

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 3,478,839 2,954,691
Tax 260,833 297,382
Social security & other taxes 371,792 416,914
Other creditors 1,601,145 379,681
Accruals & deferred income 141,143 46,680
5,853,752 4,095,348

14. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 6,415 9,765

Deferred
tax
£   
Balance at 1 May 2023 9,765
Provided during year (3,350 )
Balance at 30 April 2024 6,415

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
5,000 Ordinary £1 5,000 5,000

Bermar Building Company Limited (Registered number: 01052886)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

16. RESERVES
Retained
earnings
£   

At 1 May 2023 2,586,045
Profit for the year 1,370,860
Dividends (1,245,000 )
At 30 April 2024 2,711,905

17. PENSION COMMITMENTS

The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds.

The pension charge for the year amounted to £30,500 (2023 £14,500).

There were no outstanding or prepaid contributions at either the beginning or end of the financial year.

18. OPERATING LEASES

As Lessor

The total future minimum lease payments receivable under non-cancellable leases are as follows:


20232022
£   £   
Not later than 1 year42,00072,050
Later than 1 year and not later than 5 years24,12535,917
66,125107,967

19. RELATED PARTY DISCLOSURES

Dividends totalling £1,245,000 (2023 £1,198,960) were paid to four directors (2023 four directors)

20. CONTROL RELATIONSHIPS

No individual has control. The directors who are shareholders are considered to be the controlling party.