Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 01480498 Mrs M A Harpham Mr W E Harpham Mrs M A Harpham iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01480498 2023-05-31 01480498 2024-05-31 01480498 2023-06-01 2024-05-31 01480498 frs-core:CurrentFinancialInstruments 2024-05-31 01480498 frs-core:MotorVehicles 2024-05-31 01480498 frs-core:MotorVehicles 2023-06-01 2024-05-31 01480498 frs-core:MotorVehicles 2023-05-31 01480498 frs-core:PlantMachinery 2024-05-31 01480498 frs-core:PlantMachinery 2023-06-01 2024-05-31 01480498 frs-core:PlantMachinery 2023-05-31 01480498 frs-core:ShareCapital 2024-05-31 01480498 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 01480498 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01480498 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 01480498 frs-bus:SmallEntities 2023-06-01 2024-05-31 01480498 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 01480498 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 01480498 frs-bus:Director1 2023-06-01 2024-05-31 01480498 frs-bus:Director2 2023-06-01 2024-05-31 01480498 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 01480498 frs-countries:EnglandWales 2023-06-01 2024-05-31 01480498 2022-05-31 01480498 2023-05-31 01480498 2022-06-01 2023-05-31 01480498 frs-core:CurrentFinancialInstruments 2023-05-31 01480498 frs-core:ShareCapital 2023-05-31 01480498 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 01480498
Brownlee Fabrications Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01480498
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,332 34,637
26,332 34,637
CURRENT ASSETS
Stocks 5 3,602 8,826
Debtors 6 74,628 95,398
Cash at bank and in hand 76,680 41,653
154,910 145,877
Creditors: Amounts Falling Due Within One Year 7 (68,164 ) (71,189 )
NET CURRENT ASSETS (LIABILITIES) 86,746 74,688
TOTAL ASSETS LESS CURRENT LIABILITIES 113,078 109,325
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,583 ) (6,581 )
NET ASSETS 106,495 102,744
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 106,295 102,544
SHAREHOLDERS' FUNDS 106,495 102,744
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M A Harpham
Director
13 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Brownlee Fabrications Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01480498 . The registered office is The Willows, Ransom Wood Business Park, Southwell Road West, Rainworth, Mansfield, Nottinghamshire, NG21 0HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance basis
Motor Vehicles 25% reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 68,732 31,400 100,132
Additions 192 - 192
As at 31 May 2024 68,924 31,400 100,324
Depreciation
As at 1 June 2023 64,186 1,309 65,495
Provided during the period 974 7,523 8,497
As at 31 May 2024 65,160 8,832 73,992
Net Book Value
As at 31 May 2024 3,764 22,568 26,332
As at 1 June 2023 4,546 30,091 34,637
5. Stocks
2024 2023
£ £
Materials 3,527 3,397
Work in progress 75 5,429
3,602 8,826
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 70,515 91,949
Prepayments and accrued income 4,113 3,449
74,628 95,398
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,457 25,959
Corporation tax 37,463 24,469
Other taxes and social security 16 133
VAT 14,019 17,587
Net wages 32 -
Accruals and deferred income 1,975 1,902
Directors' loan accounts 202 1,139
68,164 71,189
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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