Caseware UK (AP4) 2023.0.135 2023.0.135 false16false2023-01-01manufacture, retail and delivery of liquid and suspension fertilisers17falsefalse 06911560 2023-01-01 2023-12-31 06911560 2022-01-01 2022-12-31 06911560 2023-12-31 06911560 2022-12-31 06911560 2022-01-01 06911560 c:Director1 2023-01-01 2023-12-31 06911560 c:Director3 2023-01-01 2023-12-31 06911560 c:Director4 2023-01-01 2023-12-31 06911560 c:RegisteredOffice 2023-01-01 2023-12-31 06911560 d:Buildings 2023-01-01 2023-12-31 06911560 d:Buildings 2023-12-31 06911560 d:Buildings 2022-12-31 06911560 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06911560 d:Buildings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06911560 d:PlantMachinery 2023-01-01 2023-12-31 06911560 d:PlantMachinery 2023-12-31 06911560 d:PlantMachinery 2022-12-31 06911560 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06911560 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06911560 d:MotorVehicles 2023-01-01 2023-12-31 06911560 d:MotorVehicles 2023-12-31 06911560 d:MotorVehicles 2022-12-31 06911560 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06911560 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06911560 d:FurnitureFittings 2023-01-01 2023-12-31 06911560 d:FurnitureFittings 2023-12-31 06911560 d:FurnitureFittings 2022-12-31 06911560 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06911560 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06911560 d:OfficeEquipment 2023-01-01 2023-12-31 06911560 d:ComputerEquipment 2023-01-01 2023-12-31 06911560 d:ComputerEquipment 2023-12-31 06911560 d:ComputerEquipment 2022-12-31 06911560 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06911560 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06911560 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06911560 d:OtherPropertyPlantEquipment 2023-12-31 06911560 d:OtherPropertyPlantEquipment 2022-12-31 06911560 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06911560 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06911560 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06911560 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06911560 d:CurrentFinancialInstruments 2023-12-31 06911560 d:CurrentFinancialInstruments 2022-12-31 06911560 d:Non-currentFinancialInstruments 2023-12-31 06911560 d:Non-currentFinancialInstruments 2022-12-31 06911560 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06911560 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06911560 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06911560 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06911560 d:ShareCapital 2023-12-31 06911560 d:ShareCapital 2022-12-31 06911560 d:ShareCapital 2022-01-01 06911560 d:SharePremium 2023-12-31 06911560 d:SharePremium 2022-12-31 06911560 d:SharePremium 2022-01-01 06911560 d:CapitalRedemptionReserve 2023-12-31 06911560 d:CapitalRedemptionReserve 2022-12-31 06911560 d:CapitalRedemptionReserve 2022-01-01 06911560 d:RevaluationReserve 2023-12-31 06911560 d:RevaluationReserve 2022-12-31 06911560 d:RevaluationReserve 2022-01-01 06911560 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06911560 d:RetainedEarningsAccumulatedLosses 2023-12-31 06911560 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 06911560 d:RetainedEarningsAccumulatedLosses 2022-12-31 06911560 d:RetainedEarningsAccumulatedLosses 2022-01-01 06911560 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06911560 c:OrdinaryShareClass1 2023-12-31 06911560 c:OrdinaryShareClass1 2022-12-31 06911560 c:FRS102 2023-01-01 2023-12-31 06911560 c:Audited 2023-01-01 2023-12-31 06911560 c:FullAccounts 2023-01-01 2023-12-31 06911560 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06911560 d:Subsidiary1 2023-01-01 2023-12-31 06911560 d:Subsidiary1 1 2023-01-01 2023-12-31 06911560 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 06911560 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 06911560 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 06911560 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 06911560 c:Consolidated 2023-12-31 06911560 c:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 06911560 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06911560 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06911560 d:OtherDeferredTax 2023-12-31 06911560 d:OtherDeferredTax 2022-12-31 06911560 6 2023-01-01 2023-12-31 06911560 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06911560





 
Billericay Fertiliser Services Limited          
 
Directors' report and consolidated financial          
statements
          

For the year ended 31 December 2023          

 
Billericay Fertiliser Services Limited
 
 
Company information


Directors
R.J. Platt 
S.H. Nichols 
D. Platt 




Registered number
06911560



Registered office
Quaintways
Workhouse Lane

South Woodham Ferrers

Chelmsford

CM3 8RD





 
Billericay Fertiliser Services Limited
 

Contents



Page
Directors' report
 
1 - 2
Group strategic report
 
3 - 4
Independent auditors' report
 
5 - 8
Consolidated profit and loss account
 
9
Consolidated balance sheet
 
10
Company balance sheet
 
11
Consolidated statement of changes in equity
 
12
Company statement of changes in equity
 
13
Consolidated statement of cash flows
 
14 - 15
Consolidated analysis of net debt
 
16
Notes to the financial statements
 
17 - 33


 
Billericay Fertiliser Services Limited
 
 
Directors' report
For the year ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Results

The profit for the year, after taxation, amounted to £757,858 (2022 - £1,882,287).

Further information on the performance of the group during the year and the group's state of affairs at the balance sheet date are noted within the strategic report on pages 3 and 4. 
 

Dividends

Dividends amounting to £200,000 (2022 - £62,350) were paid during the year. The directors do not recommend the payment of any further dividends. 
 

Future developments

The directors are not aware of any likely future developments which would have a significant effect on the group.
 

Fixed assets

Details of movements in fixed assets are set out in the notes to the accounts.
 

Directors

The directors who served during the year were:

R.J. Platt 
S.H. Nichols 
D. Platt
 

Events since the end of the year

There have been no events subsequent to the year end which materially affect the results for the year of the group's state of affairs at 31 December 2023.
 

Research and development activities

The group is currently involved in numerous research and development projects relating primarily to the formulation of new fertiliser products.
 

Close company

The parent company and its subsidiary are close companies within the meaning of S.439 CTA 2010.
 

Page 1

 
Billericay Fertiliser Services Limited
 
 
Directors' report (continued)
For the year ended 31 December 2023

Directors' responsibilities statement

The directors are responsible for preparing thegroup strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 the group and of the profit or loss of the group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the group's financial statements and then apply them consistently;

make judgments 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 group 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 the group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 
Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company and the group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditors are aware of that information.

 
Auditors

Under section 487(2) of the Companies Act 2006Clay Ratnage Strevens & Hills will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
 

This report was approved by the board on 6 August 2024 and signed on its behalf.
 





R.J. Platt
Director

Page 2

 
Billericay Fertiliser Services Limited
 
 
Group strategic report
For the year ended 31 December 2023

Introduction
 
The group's principal activities are that of the manufacture and retail of liquid and suspension fertilisers. There have been no changes to these activities during the year.

Business review
 
The directors are pleased with the performance of the group, considering the market conditions prevailing during the year under review.
 
The group's gross profit for the year decreased to £2,745,244 for the year ended 31 December 2023
 (2022 - £3,591,752). However, the group's gross profit margin has increased from 18.3% in 2022 to 22.7% for 2023. The increase in margin is attributable to the fall in the market price of raw materials purchased by the group. 
The conflict in the Ukraine contributed to a significant increase in the price of fuel and other raw materials of fertiliser during the previous year. The market became more stable during the year under review, leading to a decrease in the price of raw materials. These prices have remained in line with historic levels subsequent to the year end. 
Profit before tax has decreased from £2,323,005 to £1,008,566, this is mainly attributable to the decrease in turnover during the year.
The directors will continue to develop and invest in the group’s research and development with regards to the formulation of commercial fertiliser.
The directors are pleased with the state of the financial affairs of the group at the balance sheet date. 

Principal risks and uncertainties
 
The group has invested significantly in its infrastructure to ensure that it is able to deal with any changes in the industry. 
Other general principal risks and uncertainties identified by the directors of the group relate to factors concerning the price volatility of raw materials; the effect of government taxation; and environmental policies. The group is, however, in a good position operationally to adapt to continuing challenges. 

Page 3

 
Billericay Fertiliser Services Limited
 

Group strategic report (continued)
For the year ended 31 December 2023

Financial key performance indicators
 
The directors consider that the key financial performance indicators are as follows:
Gross Profit Percentage - The directors confirm that the gross profit percentage has increased to 22.7%
 (2022 – 18.3%), which is in line with expectations. The directors believe that margins will remain fairly consistent in the short to medium term.
Trade Receivable Days - The directors confirm that trade receivable days have increased significantly to 38 days
 (2022 – 24 days) the increase indicates that the credit control procedures have been less stringent than during the previous year. However, the results have been skewed by the volitility of fertiliser prices. The directors expect trade receivable days to return to prior year levels in the short to medium term.


This report was approved by the board on 6 August 2024 and signed on its behalf.



R.J.Platt
Director

Page 4

 
Billericay Fertiliser Services Limited
 
 
Independent auditors' report to the members of Billericay Fertiliser Services Limited
 

Opinion


We have audited the financial statements of Billericay Fertiliser Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023, which comprise the Consolidated profit and loss account, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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 group's and of the parent company's affairs as at 31 December 2023 and of the group's 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 group's or the parent 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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Page 5

 
Billericay Fertiliser Services Limited
 
 
Independent auditors' report to the members of Billericay Fertiliser Services Limited (continued)

Opinion 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 Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company 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 Directors' responsibilities statement set out on page 2, 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 is 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
Billericay Fertiliser Services Limited
 
 
Independent auditors' report to the members of Billericay Fertiliser Services Limited (continued)

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 an Auditors' report 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 Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

To identify risks of material misstatement due to fraud we assess events or conditions that could indicate an incentive or  pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures include: 
• Obtaining an understanding of the legal and regulatory frameworks applicable to the group and the sectors in which it  operates. 
• Obtaining an understanding of how the group is complying with those legal and regulatory frameworks by making  enquiries to the group accounting department and management.
• Assessing the susceptibility of the group financial statements to material misstatement caused by fraud or other  irregularities, by undertaking the following procedures:
- Identifying and assessing the design effectiveness of controls which management have in place to prevent and detect  fraud.
- Understanding how those charged with governance consider and address the potential for override of controls and 
management bias.
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
- Assessing the extent of compliance with the relevant laws and regulations.
- Assessing the extent to which pressures exist which may increase the risk of fraudulent revenue recognition.
Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated   to the audit team, as well as potential risks pertaining to the group of which this company is a member.
The inherent limitations of audit present an unavoidable risk that we, the auditors, may not detect some material  misstatements within the financial statements despite proper planning and performance of our duties as auditors. Equally,  there remains a risk of the non-detection of fraud which could involve collusion, forgery, intentional omissions,  misrepresentations, or the override of internal controls. The audit procedures carried out are designed to detect material  misstatements within the financial statements. We take no responsibility for preventing non-compliance or fraud and cannot  be expected to detect non-compliance with all laws and regulations. 


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 Auditors' report.





Page 7

 
Billericay Fertiliser Services Limited
 
 
Independent auditors' report to the members of Billericay Fertiliser Services Limited (continued)

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 2006Our 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 an Auditors' report 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.





Steven James Garrod (Senior statutory auditor)
for and on behalf of Clay Ratnage Strevens & Hills
Statutory Auditors
 
Construction House
Runwell Road
Wickford
Essex
SS11 7HQ
 

6 August 2024
Page 8

 
Billericay Fertiliser Services Limited
 
 
Consolidated profit and loss account
For the year ended 31 December 2023

2023
2022
                                                                                                                                        Note
£
£

  

Turnover
 4 
12,079,723
19,592,193

Cost of sales
  
(9,334,479)
(16,000,441)

Gross profit
  
2,745,244
3,591,752

Administrative expenses
  
(1,827,892)
(1,272,423)

Other operating income
 5 
30,000
60,000

Fair value movements
  
-
(52,057)

Operating profit
  
947,352
2,327,272

Interest receivable and similar income
 9 
76,677
2,772

Interest payable and similar expenses
 10 
(15,463)
(7,039)

Profit before tax
  
1,008,566
2,323,005

Tax on profit
 12 
(250,708)
(440,718)

Profit for the financial year
  
757,858
1,882,287

Profit for the year attributable to:
  

Owners of the parent company
  
757,858
1,882,287













The notes on pages 17 to 33 form part of these financial statements.
Page 9

 
Billericay Fertiliser Services Limited
Registered number:06911560

Consolidated balance sheet
As at 31 December 2023


2023

2022
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 13 
2,288,587
2,149,480

Current assets
  

Stock
 15 
1,642,000
2,375,681

Debtors
 16 
1,368,926
1,392,220

Cash at bank and in hand
 17 
3,055,665
1,991,204

  
6,066,591
5,759,105

Creditors: amounts falling due within one year
 18 
(1,914,134)
(2,077,776)

Net current assets
  
 
 
4,152,457
 
 
3,681,329

Total assets less current liabilities
  
6,441,044
5,830,809

Creditors: amounts falling due after more than one year
 19 
(48,595)
(38,058)

Provisions for liabilities
  

Deferred tax
  
(287,878)
(246,038)

Net assets
  
6,104,571
5,546,713


Capital and reserves
  

Called up share capital 
 23 
35,340
35,340

Share premium account
  
251,148
251,148

Revaluation reserve
  
809,373
809,373

Capital redemption reserve
  
43,820
43,820

Profit and loss account
  
4,964,890
4,407,032

  
6,104,571
5,546,713


The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 6 August 2024.



R.J. Platt
Director




The notes on pages 17 to 33 form part of these financial statements.
Page 10

 
Billericay Fertiliser Services Limited
Registered number:06911560

Company balance sheet
As at 31 December 2023


2023

2022
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 13 
1,959,325
1,764,883

Investments
 14 
100
100

  
1,959,425
1,764,983

Current assets
  

Stock
 15 
1,642,000
2,375,681

Debtors
 16 
1,641,440
1,726,320

Cash at bank and in hand
 17 
3,035,175
1,961,685

  
6,318,615
6,063,686

Creditors: amounts falling due within one year
 18 
(1,893,910)
(2,041,333)

Net current assets
  
 
 
4,424,705
 
 
4,022,353

Total assets less current liabilities
  
6,384,130
5,787,336

  

Creditors: amounts falling due after more than one year
 19 
(48,592)
(38,058)

Provisions for liabilities
  

Deferred taxation
 22 
(245,473)
(209,149)

Net assets
  
6,090,065
5,540,129


Capital and reserves
  

Called up share capital 
 23 
35,340
35,340

Share premium account
  
251,148
251,148

Revaluation reserve
  
809,373
809,373

Capital redemption reserve
  
43,820
43,820

Profit and loss account
  
4,950,384
4,400,448

  
6,090,065
5,540,129


The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 6 August 2024.


R.J. Platt
Director


The notes on pages 17 to 33 form part of these financial statements.
Page 11

 
Billericay Fertiliser Services Limited
 

Consolidated statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Share premium account
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£
£

At 1 January 2023
35,340
251,148
43,820
809,373
4,407,032
5,546,713



Profit for the year
-
-
-
-
757,858
757,858

Dividends: Equity capital
-
-
-
-
(200,000)
(200,000)


At 31 December 2023
35,340
251,148
43,820
809,373
4,964,890
6,104,571






 


Consolidated statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Share premium account
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£
£

At 1 January 2022
35,340
251,148
43,820
809,373
2,587,095
3,726,776



Profit for the year
-
-
-
-
1,882,287
1,882,287

Dividends: Equity capital
-
-
-
-
(62,350)
(62,350)


At 31 December 2022
35,340
251,148
43,820
809,373
4,407,032
5,546,713









The notes on pages 17 to 33 form part of these financial statements.
Page 12

 
Billericay Fertiliser Services Limited
 

Company statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Share premium account
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£
£

At 1 January 2023
35,340
251,148
43,820
809,373
4,400,448
5,540,129



Profit for the year
-
-
-
-
749,936
749,936

Dividends: Equity capital
-
-
-
-
(200,000)
(200,000)


At 31 December 2023
35,340
251,148
43,820
809,373
4,950,384
6,090,065





 


Company statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Share premium account
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£
£

At 1 January 2022
35,340
251,148
43,820
809,373
2,573,697
3,713,378



Profit for the year
-
-
-
-
1,889,101
1,889,101

Dividends: Equity capital
-
-
-
-
(62,350)
(62,350)


At 31 December 2022
35,340
251,148
43,820
809,373
4,400,448
5,540,129









The notes on pages 17 to 33 form part of these financial statements.
Page 13

 
Billericay Fertiliser Services Limited
 

Consolidated statement of cash flows
For the year ended 31 December 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
757,858
1,882,287

Adjustments for:

Depreciation of tangible assets
203,409
190,959

Loss/(profit) on disposal of tangible assets
20,027
(11,090)

Interest paid
15,463
7,039

Interest received
(76,677)
(2,772)

Taxation charge
250,708
441,342

Decrease/(increase) in stock
733,681
(159,682)

(Increase)/decrease in debtors
(977)
824,144

Decrease in creditors
(81,079)
(1,370,673)

Increase/(decrease) in amounts owed to related party undertakings
149,613
(315,576)

Corporation tax paid
(442,870)
(319,183)

Net cash generated from operating activities

1,529,156
1,166,795


Cash flows from investing activities

Purchase of tangible fixed assets
(469,043)
(155,130)

Sale of tangible fixed assets
106,500
45,500

Interest received
76,677
2,772

HP interest paid
(6,365)
(7,039)

Net cash from investing activities

(292,231)
(113,897)
Page 14

 
Billericay Fertiliser Services Limited
 

Consolidated statement of cash flows (continued)
For the year ended 31 December 2023


2023
2022

£
£



Cash flows from financing activities

Repayment of other loans
-
(74,026)

New/(repayment of) finance leases
36,632
(32,807)

Dividends paid
(200,000)
(62,350)

Interest paid
(9,096)
-

Net cash used in financing activities
(172,464)
(169,183)

Net increase in cash and cash equivalents
1,064,461
883,715

Cash and cash equivalents at beginning of year
1,991,204
1,107,489

Cash and cash equivalents at the end of year
3,055,665
1,991,204


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,055,665
1,991,204
















The notes on pages 17 to 33 form part of these financial statements.
Page 15

 
Billericay Fertiliser Services Limited
 

Consolidated Analysis of Net Debt
For the year ended 31 December 2023





At 1 January 2023
Cash flows
New finance leases
At 31 December 2023
£

£

£

£

Cash at bank and in hand

1,991,204

1,064,461

-

3,055,665

Debt due within 1 year

(202,206)

164,991

-

(37,215)

Finance leases

(71,431)

-

(36,632)

(108,063)


1,717,567
1,229,452
(36,632)
2,910,387





















The notes on pages 17 to 33 form part of these financial statements.
Page 16

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Billericay Fertiliser Services Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Quaintways, Workhouse Lane, South Woodham Ferrers, Chelmsford, CM3 8RD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3).
The group has applied the exemption available under FRS102 whereby freehold property previously revalued under the previously extant UK GAAP is no longer required. The value of this property as at transition has now been treated as its deemed cost.

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated profit and loss account from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2015.

Page 17

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the group has transferred the significant risks and rewards of ownership to the buyer;
the group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 18

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance methods.

Depreciation is provided at the following rates:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Office equipment
-
20%
reducing balance
Computer equipment
-
20%
straight line
Implements and equipment
-
20%
reducing balance / 10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. 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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's Balance sheet when the group becomes party to the contractual provisions of the instrument.
Page 19

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


 

Page 20

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. 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.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Pensions

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the group in independently administered funds.

Page 21

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the group's financial statements requires the directors to make judgments when applying accounting estimates which give rise to estimation uncertainty. The directors make these judgments having taken into account all available information and using their considerable knowledge of the group's operations. Key estimates include current stock volumes and the recoverability of trade debtors. The directors consider that these accounting estimates are fairly stated.

Page 22

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

4.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Fertiliser
12,079,723
19,541,541

Heating oil, fuel and storage
-
50,652

12,079,723
19,592,193


All turnover arose within the United Kingdom.


5.


Other operating income

2023
2022
£
£

Management charges
30,000
60,000



6.


Auditors' remuneration

During the year, the group obtained the following services from the company's auditors:


2023
2022
£
£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
23,000
23,000

Page 23

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
1,014,456
708,935
1,014,456
708,935

Social security costs
116,729
75,621
116,729
75,621

Cost of defined contribution scheme
61,247
123,938
61,247
123,938

1,192,432
908,494
1,192,432
908,494


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2023
        2022
        2023
        2022
            No.
            No.
            No.
            No.









Directors
3
3
3
3



Production and sales
8
7
8
7



Office and management
6
6
6
6

17
16
17
16


8.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
447,439
174,366

Company contributions to defined contribution pension schemes
28,203
101,213

475,642
275,579



9.


Interest receivable

2023
2022
£
£


Other interest receivable
76,677
2,772

Page 24

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

10.


Interest payable and similar expenses

2023
2022
£
£


Bank interest payable
19
3

Other loan interest payable
9,079
5,457

Interest payable on finance leases and hire purchase contracts
6,365
1,579

15,463
7,039


11.


Parent company profit for the year

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements. The profit after tax of the parent company for the year was £749,940 (2022 - £1,889,101).


12.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
208,868
442,868


Deferred tax


Origination and reversal of timing differences
41,840
(2,150)


Taxation on profit
250,708
440,718
Page 25

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than the standard rate of corporation tax in the UK of 25% (2022 -19%). The differences are explained below:

2023
2022
£
£


Profit before tax
1,008,565
2,323,006


Profit multiplied by standard rate of corporation tax in the UK of 25% (2022 - 19%)
252,141
441,371

Effects of:


Expenses not deductible for tax purposes
7,566
837

Capital allowances for year (in excess of)/less than depreciation
(33,945)
3,152

Utilisation of tax losses
(3,125)
-

Other timing differences leading to an increase/(decrease) in taxation
41,840
(2,150)

Adjustment in research and development tax credit leading to a decrease in the tax charge
-
(13,080)

Change in rate of taxation during the year
(13,175)
-

Capital gains
-
697

Fair value movement
-
9,891

Marginal relief
(594)
-

Total tax charge for the year
250,708
440,718


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 26

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

13.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Implements and equipment
Total

£
£
£
£
£
£
£



Cost 


At 1 January 2023
1,335,572
746,329
1,154,057
28,177
26,452
494,453
3,785,040


Additions
49,143
-
406,779
-
1,123
11,997
469,042


Disposals
-
-
(127,655)
-
-
-
(127,655)



At 31 December 2023

1,384,715
746,329
1,433,181
28,177
27,575
506,450
4,126,427



Depreciation


At 1 January 2023
-
286,275
896,714
25,307
25,883
401,381
1,635,560


Charge for the year: owned
-
57,066
69,852
574
681
19,613
147,786


Charge for the year: financed
-
17,134
38,488
-
-
-
55,622


Disposals
-
-
(1,128)
-
-
-
(1,128)



At 31 December 2023

-
360,475
1,003,926
25,881
26,564
420,994
1,837,840



Net book value



At 31 December 2023
1,384,715
385,854
429,255
2,296
1,011
85,456
2,288,587



At 31 December 2022
1,335,572
460,054
257,343
2,870
569
93,072
2,149,480

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
51,402
68,536

Motor vehicles
125,912
39,042

177,314
107,578

Page 27

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

           13.Tangible fixed assets (continued)


Company






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Implements and equipment
Total

£
£
£
£
£
£
£

Cost 


At 1 January 2023
1,335,572
192,977
1,154,057
28,177
26,452
494,453
3,231,688


Additions
49,143
-
406,779
-
1,123
11,997
469,042


Disposals
-
-
(127,655)
-
-
-
(127,655)



At 31 December 2023

1,384,715
192,977
1,433,181
28,177
27,575
506,450
3,573,075



Depreciation


At 1 January 2023
-
117,520
896,714
25,307
25,883
401,381
1,466,805


Charge for the year: owned
-
1,731
69,852
574
681
19,613
92,451


Charge for the year: financed
-
17,134
38,488
-
-
-
55,622


Disposals
-
-
(1,128)
-
-
-
(1,128)



At 31 December 2023

-
136,385
1,003,926
25,881
26,564
420,994
1,613,750



Net book value



At 31 December 2023
1,384,715
56,592
429,255
2,296
1,011
85,456
1,959,325



At 31 December 2022
1,335,572
75,457
257,343
2,870
569
93,072
1,764,883





The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
51,402
68,536

Motor vehicles
125,912
39,042

177,314
107,578

Page 28

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

14.


Fixed asset investments

Company





Investments in subsidiary company

£



Cost


At 1 January 2023
100



At 31 December 2023
100





Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

Billericay Fertiliser Storage Limited
England and Wales
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit

Billericay Fertiliser Storage Limited
14,602
7,918


15.


Stock

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Raw materials and consumables
1,642,000
2,375,681
1,642,000
2,375,681


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 29

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

16.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
1,273,651
1,283,736
1,209,266
1,248,715

Amounts owed by group undertakings
-
24,271
337,119
406,449

Other debtors
69,381
24,220
69,161
16,509

Prepayments and accrued income
25,894
59,993
25,894
54,647

1,368,926
1,392,220
1,641,440
1,726,320


Included within other debtors due within one year is a loan to R Platt amounting to £69,161 (2022 - £Nil) and a loan to D Platt amounting to £Nil (2022 - £16,509). No interest was charged on these loans.



17.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
3,055,665
1,991,204
3,035,175
1,961,685



18.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Trade creditors
691,287
371,417
691,289
339,131

Amounts owed to related undertakings
125,342
-
125,342
-

Corporation tax
108,866
342,868
102,270
342,868

Other taxation and social security
63,264
59,795
53,787
59,795

Obligations under finance lease and hire purchase contracts
59,470
33,373
59,470
33,373

Other creditors
113,038
233,017
113,038
233,013

Accruals and deferred income
752,867
1,037,306
748,714
1,033,153

1,914,134
2,077,776
1,893,910
2,041,333


Page 30

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

19.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Net obligations under finance leases and hire purchase contracts
48,595
38,058
48,592
38,058





20.


Secured loans

The groups bank facilities are secured by way of a charge over the parent company's freehold property and a debenture over all other assets in the group.







21.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Within one year
59,470
33,373
59,470
33,373

Between 1-5 years
48,595
38,058
48,595
38,058

108,065
71,431
108,065
71,431

Page 31

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

22.


Deferred taxation


Group



2023
2022


£

£






At beginning of year
246,038
248,188


Charged for/(released during) the year
41,840
(2,150)



At end of year
287,878
246,038

Company


2023
2022


£

£






At beginning of year
209,149
231,479


Charged for/(released during) the year
36,324
(22,330)



At end of year
245,473
209,149

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Accelerated capital allowances
186,058
144,218
143,653
107,329

Unrealised gains in respect of revalued freehold property
101,820
101,820
101,820
101,820

287,878
246,038
245,473
209,149


23.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



35,340 (2022 - 35,340) Ordinary shares  of £1.00 each
35,340
35,340


Page 32

 
Billericay Fertiliser Services Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

24.


Pension commitments

The group operates defined pension contributions pension schemes. The assets of the schemes are held separately from those of the group in independently administered funds. The pension charge represents contributions payable by the group to the funds and amounted to £61,247 (2022 - £123,938)
 


25.


Ultimate controlling party

The ultimate controlling party are Rosalind Platt and David Platt, directors of the group, by virtue of their shareholdings.

Page 33