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COMPANY REGISTRATION NUMBER: 09180963
Berriman Eaton Limited
Filleted Unaudited Abridged Financial Statements
31 December 2023
Berriman Eaton Limited
Abridged Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
137,180
274,358
Tangible assets
6
36,701
36,008
---------
---------
173,881
310,366
Current assets
Debtors
390,551
336,570
Cash at bank and in hand
427,650
667,338
---------
------------
818,201
1,003,908
Creditors: amounts falling due within one year
334,852
368,582
---------
------------
Net current assets
483,349
635,326
---------
---------
Total assets less current liabilities
657,230
945,692
Creditors: amounts falling due after more than one year
60,000
90,000
Provisions
Taxation including deferred tax
9,175
6,750
---------
---------
Net assets
588,055
848,942
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
587,955
848,842
---------
---------
Shareholders funds
588,055
848,942
---------
---------
These abridged 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 statement of income and retained earnings 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 abridged 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 abridged financial statements .
Berriman Eaton Limited
Abridged Statement of Financial Position (continued)
31 December 2023
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 25 July 2024 , and are signed on behalf of the board by:
N C Berriman
C M Heatley
Director
Director
Company registration number: 09180963
Berriman Eaton Limited
Notes to the Abridged 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 13-15 High Street, Tettenhall, Wolverhampton, WV6 8QS.
2. Statement of compliance
These abridged 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
(a) Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
(c) Income tax
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.
(d) Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
(e) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Straight line over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(f) 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.
(g) 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:
Leasehold property
-
Straight line over the life of lease
Fixtures, fittings & equipment
-
15% / 25% straight line
(h) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date .
(i) 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 statement of financial position and the amount of the provision as an expense.
(j) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 33 (2022: 30 ).
5. Intangible assets
£
Cost
At 1 January 2023 and 31 December 2023
1,371,782
------------
Amortisation
At 1 January 2023
1,097,424
Charge for the year
137,178
------------
At 31 December 2023
1,234,602
------------
Carrying amount
At 31 December 2023
137,180
------------
At 31 December 2022
274,358
------------
6. Tangible assets
£
Cost
At 1 January 2023
121,445
Additions
8,432
---------
At 31 December 2023
129,877
---------
Depreciation
At 1 January 2023
85,437
Charge for the year
7,739
---------
At 31 December 2023
93,176
---------
Carrying amount
At 31 December 2023
36,701
---------
At 31 December 2022
36,008
---------
7. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
71,276
68,635
Later than 1 year and not later than 5 years
127,979
141,781
Later than 5 years
14,000
28,000
---------
---------
213,255
238,416
---------
---------
8. Directors' advances, credits and guarantees
Debtors include a balance of £155,211 due from N C Berriman (2022 - £150,397). The balance has been cleared since the end of the financial year. Interest is charged at 4% per annum on any amounts due from the directors during the year. Interest at 4% per annum is paid to the directors on any credit balances they have with the company during the year. The directors have provided personal guarantees of £35,000 to Barclays Bank in respect of the company's overdraft facility.