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REGISTERED NUMBER: 00156484 (England and Wales)















BRUNTON'S PROPELLERS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






BRUNTON'S PROPELLERS LIMITED (REGISTERED NUMBER: 00156484)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


BRUNTON'S PROPELLERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J C Langham
A D Deves
J Shaw



SECRETARY: A D Deves



REGISTERED OFFICE: Binghams Melcombe
Dorchester
Dorset
DT2 7PZ



BUSINESS ADDRESS: Oakwood Business Park
Stephenson Road West
Clacton-on-Sea
Essex
CO15 4TL



REGISTERED NUMBER: 00156484 (England and Wales)



SENIOR STATUTORY AUDITOR: Michael Argyle BSc ACA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

BRUNTON'S PROPELLERS LIMITED (REGISTERED NUMBER: 00156484)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 3 18,561 22,213

CURRENT ASSETS
Inventories 4 1,328,953 1,481,406
Debtors 5 413,132 426,916
Cash at bank 92,490 159,731
1,834,575 2,068,053
CREDITORS
Amounts falling due within one year 6 1,106,432 1,319,693
NET CURRENT ASSETS 728,143 748,360
TOTAL ASSETS LESS CURRENT LIABILITIES 746,704 770,573

PROVISIONS FOR LIABILITIES 40,000 -
NET ASSETS 706,704 770,573

CAPITAL AND RESERVES
Called up share capital 7 1,350,000 1,350,000
Retained earnings (643,296 ) (579,427 )
SHAREHOLDERS' FUNDS 706,704 770,573

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





J C Langham - Director


BRUNTON'S PROPELLERS LIMITED (REGISTERED NUMBER: 00156484)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company is a subsidiary of Langham Industries Limited. Consolidated financial statements of Langham Industries Limited can be obtained from:

Companies House
Crown Way
Cardiff
CF14 3UZ

Revenue
Revenue represents sales at invoice value less trade discounts allowed and excluding value added tax. Revenue is recognised when goods are despatched or the period in which services are rendered.

Property, plant and equipment
Property, plant and equipment assets are held at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life.

Plant and equipment- 7.5% to 20% on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell and due allowance is made for obsolete and excess inventories. Inventories are accounted for on a first-in-first-out basis.

BRUNTON'S PROPELLERS LIMITED (REGISTERED NUMBER: 00156484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Transactions in foreign currencies are converted to sterling at the exchange rates ruling at the date of transaction. Gains and losses arising in the normal course of trade are included in the income statement. Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the financial reporting date.

Pension costs and other post-retirement benefits
The company is a member of the Langham Industries Group Personal Pension Plan. This Plan is a money purchase scheme and contributions payable for the year are charged to the income statement. Assets for the Plan are held in separate trustee administered funds.

Grants receivable
Grants received as contributions to revenue expenditure are credited to the income statement in the period in which the related expenditure is incurred.

BRUNTON'S PROPELLERS LIMITED (REGISTERED NUMBER: 00156484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

3. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 January 2023 117,661
Additions 3,276
Disposals (1,916 )
At 31 December 2023 119,021
DEPRECIATION
At 1 January 2023 95,448
Charge for year 6,928
Eliminated on disposal (1,916 )
At 31 December 2023 100,460
NET BOOK VALUE
At 31 December 2023 18,561
At 31 December 2022 22,213

4. INVENTORIES
2023 2022
£    £   
Raw materials and consumables 1,288,778 1,441,231
Finished goods 40,175 40,175
1,328,953 1,481,406

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 187,126 242,060
Other debtors and prepayments 79,033 99,833
Amounts owed by group undertakings 36,080 30,247
Payments made on account 110,893 54,776
413,132 426,916

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 121,488 -
Trade creditors 281,611 467,573
Amounts owed to group undertakings 199,781 147,793
Other taxes and social security 8,845 9,658
Other creditors and accruals 11,769 36,875
Payments received on account 482,938 657,794
1,106,432 1,319,693

BRUNTON'S PROPELLERS LIMITED (REGISTERED NUMBER: 00156484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,350,000 Ordinary shares £1 1,350,000 1,350,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

9. CONTINGENT LIABILITIES

There are unlimited inter-company guarantees given by the company, thirteen fellow subsidiary companies and the parent company, in favour of Barclays plc. The total amount secured in respect of fellow group companies as at 31 December 2023, excluding this company, was £1,080 (2022 - £183,827).

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments as shown below.

Minimum lease payments under non-cancellable operating leases fall due as follows :

20232022
££
Within one year5,15717,129
Between two and five years1,2897,534
6,44624,663

11. ULTIMATE PARENT COMPANY

The ultimate parent company is Langham Industries Limited which is registered in England and Wales. The ultimate parent company's registered office is the same as that shown on the company information page.

The ultimate controlling party of Langham Industries Limited is the Langham family.