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Registration number: 00791690

Butterfield Neon Service Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Butterfield Neon Service Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Butterfield Neon Service Limited

(Registration number: 00791690)
Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Fixed assets

 

Tangible assets

5

3,739

4,389

Investments

6

10,565

10,565

 

14,304

14,954

Current assets

 

Debtors

7

1,435,131

711,923

Cash at bank and in hand

 

136,736

12,859

 

1,571,867

724,782

Creditors: Amounts falling due within one year

8

(835,781)

-

Net current assets

 

736,086

724,782

Net assets

 

750,390

739,736

Capital and reserves

 

Called up share capital

1,300

1,300

Share premium reserve

12,559

12,559

Profit and loss account

736,531

725,877

Total equity

 

750,390

739,736

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

.........................................
Mr E A Butterfield
Director

 

Butterfield Neon Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
174 Sunbridge Road
Bradford
West Yorkshire
BD1 2RZ

These financial statements were authorised for issue by the Board on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% per annum, straight line

Freehold land

is not depreciated

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Butterfield Neon Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax

3,164

(5,853)

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

17,987

17,987

At 31 December 2023

17,987

17,987

Depreciation

At 1 January 2023

13,598

13,598

Charge for the year

650

650

At 31 December 2023

14,248

14,248

Carrying amount

At 31 December 2023

3,739

3,739

At 31 December 2022

4,389

4,389

Freehold land and buildings

The gross book value of freehold land and buildings includes £14,950 (2022 - £14,950) of depreciable assets.

 

Butterfield Neon Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

10,565

10,565

Subsidiaries

£

Cost

At 1 January 2023 and 31 December 2023

10,565

Net book value

At 31 December 2023

10,565

At 31 December 2022

10,565

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Light Metal Products (Bradford) Ltd

Ordinary

56%

56%

Associates

Plastic Displays (Bradford) Ltd

Ordinary

41%

41%

Subsidiary undertakings

Light Metal Products (Bradford) Ltd

The principal activity of Light Metal Products (Bradford) Ltd is Metal fabricator.

Associates

Plastic Displays (Bradford) Ltd

The principal activity of Plastic Displays (Bradford) Ltd is Plastics fabricator.

 

Butterfield Neon Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

1,434,962

608,753

Other debtors

169

103,170

 

1,435,131

711,923

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

3,164

-

Other creditors

832,617

-

835,781

-

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

Butterfield Signs Limited
(A company under common control)

 During the year Butterfield Neon Service Limited was charged management fees of £278,000 (2022 - £130,000), and made purchases of £3,672,650 (2022 - £1,756,527) from Butterfield Signs Limited. At the balance sheet date the amount due to Butterfield Signs Limited was £832,617 (2022 - £51,820 debtor).
 

Summary of transactions with entities with joint control or significant interest

Butterfield Sign Service Limited
 There were no disclosable transactions during the year with Butterfield Sign Service Limited. At the balance sheet date the amount due from Butterfield Sign Service Limited was £169 (2022 - £45,495).