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COMPANY REGISTRATION NUMBER: 05029990
BODILL PARTNERS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
BODILL PARTNERS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Page
Balance sheet 1
Notes to the financial statements 3
BODILL PARTNERS LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
10,806
56,198
Investments
6
570,112
570,112
------------
------------
580,918
626,310
Current assets
Debtors
7
2,228,037
2,686,908
Cash at bank and in hand
138,932
60,125
------------
------------
2,366,969
2,747,033
Creditors: amounts falling due within one year
8
( 434,371)
( 595,952)
------------
------------
Net current assets
1,932,598
2,151,081
------------
------------
Total assets less current liabilities
2,513,516
2,777,391
Creditors: amounts falling due after more than one year
9
( 14,921)
( 75,446)
Provisions
Taxation including deferred tax
11
( 19,997)
( 28,587)
------------
------------
Net assets
2,478,598
2,673,358
------------
------------
Capital and reserves
Called up share capital
13
200
200
Profit and loss account
2,478,398
2,673,158
------------
------------
Shareholders funds
2,478,598
2,673,358
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BODILL PARTNERS LIMITED
BALANCE SHEET (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
R A Bodill
Director
Company registration number: 05029990
BODILL PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the value of goods sold and services provided net of value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
33% straight line
Fixtures and fittings
-
20% straight line
Motor vehicles
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Property improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
35,521
45,220
106,943
187,684
Additions
1,004
1,004
Disposals
( 50,945)
( 50,945)
------------
------------
------------
------------
At 31 December 2023
35,521
46,224
55,998
137,743
------------
------------
------------
------------
Depreciation
At 1 January 2023
35,521
43,191
52,774
131,486
Charge for the year
1,664
8,766
10,430
Disposals
( 14,979)
( 14,979)
------------
------------
------------
------------
At 31 December 2023
35,521
44,855
46,561
126,937
------------
------------
------------
------------
Carrying amount
At 31 December 2023
1,369
9,437
10,806
------------
------------
------------
------------
At 31 December 2022
2,029
54,169
56,198
------------
------------
------------
------------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
570,112
------------
Impairment
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
570,112
------------
At 31 December 2022
570,112
------------
7. Debtors
2023
2022
£
£
Trade debtors
19,637
559,637
Amounts owed by group undertakings
1,853,510
1,831,453
Prepayments and accrued income
14,399
13,430
Other loans
320,146
262,043
Other debtors
20,345
20,345
------------
------------
2,228,037
2,686,908
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,858
10,086
Trade creditors
216,389
231,112
Accruals and deferred income
108,662
108,600
Corporation tax
47,316
120,794
Social security and other taxes
36,111
114,293
Obligations under finance leases and hire purchase contracts
14,643
10,284
Director loan accounts
392
783
------------
------------
434,371
595,952
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,921
25,570
Obligations under finance leases and hire purchase contracts
49,876
------------
------------
14,921
75,446
------------
------------
10. Secured indebtedness
2023
2022
£
£
Aggregate amount of secured indebtedness
40,422
95,816
------------
------------
11. Provisions
Deferred tax (note 12)
£
At 1 January 2023
28,587
Charge against provision
( 8,590)
------------
At 31 December 2023
19,997
------------
12. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions (note 11)
19,997
28,587
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Provisions
19,997
28,587
------------
------------
13. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary 'A' shares of £ 1 each
100
100
100
100
Ordinary 'B' shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
200
200
200
200
------------
------------
------------
------------
The two classes of share rank pari passu in all respects.
14. Related party transactions
The company is a wholly owned subsidiary of Bodill Group Limited. The company is controlled by R A Bodill . The director's loan account of £392 (2022: £783) included in creditors above, is unsecured, repayable on demand and currently interest free. Included in other debtors above is a loan of £1,853,510 (2022: £1,831,453) owed by Bodill 1850 Limited, and £320,146 (2022: £262,043) owed by White Rose Vehicles Limited, group and associated companies respectively. These loans are unsecured, repayable on demand and currently interest free.