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REGISTERED NUMBER: 03549436 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BERKELEY STAINLESS FITTINGS LIMITED

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BERKELEY STAINLESS FITTINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr J P Hall
Mr R C Rawsthorne
Mr R Preston





SECRETARY: Miss M D Wilkins





REGISTERED OFFICE: 13 Brookgate
South Liberty Lane
Ashton
Bristol
BS3 2UN





REGISTERED NUMBER: 03549436 (England and Wales)





AUDITORS: Lawes & Co UK Limited (Statutory Auditors)
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,934,024 2,132,818
1,934,024 2,132,818

CURRENT ASSETS
Stocks 1,157,899 1,193,281
Debtors 6 816,649 1,382,675
Cash at bank 23,050 16,615
1,997,598 2,592,571
CREDITORS
Amounts falling due within one year 7 1,728,021 2,114,124
NET CURRENT ASSETS 269,577 478,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,203,601

2,611,265

CREDITORS
Amounts falling due after more than
one year

8

(923,990

)

(1,261,330

)

PROVISIONS FOR LIABILITIES 10 (152,224 ) (153,461 )
NET ASSETS 1,127,387 1,196,474

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,127,287 1,196,374
SHAREHOLDERS' FUNDS 1,127,387 1,196,474

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr R C Rawsthorne - Director


BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

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

1. STATUTORY INFORMATION

Berkeley Stainless Fittings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Short leasehold - 33% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 25,000
AMORTISATION
At 1 January 2023
and 31 December 2023 25,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

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

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 January 2023 1,325,130 10,984 1,546,477
Additions - - 7,027
At 31 December 2023 1,325,130 10,984 1,553,504
DEPRECIATION
At 1 January 2023 - 5,543 805,178
Charge for year - 2,839 185,391
At 31 December 2023 - 8,382 990,569
NET BOOK VALUE
At 31 December 2023 1,325,130 2,602 562,935
At 31 December 2022 1,325,130 5,441 741,299

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 47,813 56,530 154,904 3,141,838
Additions - - 1,002 8,029
At 31 December 2023 47,813 56,530 155,906 3,149,867
DEPRECIATION
At 1 January 2023 42,799 17,666 137,834 1,009,020
Charge for year 1,254 9,716 7,623 206,823
At 31 December 2023 44,053 27,382 145,457 1,215,843
NET BOOK VALUE
At 31 December 2023 3,760 29,148 10,449 1,934,024
At 31 December 2022 5,014 38,864 17,070 2,132,818

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 1,061,674 56,530 1,118,204
Transfer to ownership (61,174 ) - (61,174 )
At 31 December 2023 1,000,500 56,530 1,057,030
DEPRECIATION
At 1 January 2023 398,438 17,666 416,104
Charge for year 215,689 9,716 225,405
Transfer to ownership (44,972 ) - (44,972 )
At 31 December 2023 569,155 27,382 596,537
NET BOOK VALUE
At 31 December 2023 431,345 29,148 460,493
At 31 December 2022 663,236 38,864 702,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 692,864 1,237,974
Other debtors 123,785 144,701
816,649 1,382,675

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 111,885 108,030
Hire purchase contracts (see note 9)
180,893

180,713
Trade creditors 844,710 552,643
Tax 116,245 55,010
Social security and other taxes 25,987 30,700
VAT 98,419 215,912
Other creditors 5,774 72,391
Invoice discounting loan 318,583 840,009
Directors' current accounts 737 393
Accruals 24,788 58,323
1,728,021 2,114,124

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The bank holds security over the bank loan and overdraft. They have a first legal charge over the property at Unit 13, Brookgate, Ashton, Bristol and the property at Unit 5, Minton Park, Novers Hill, Bristol.They also have a personal guarantee from the director Mr J P Hall, limited to £50,000, supported by a first legal charge over Unit 1, Tividale Business Centre, Hainge Road, Oldbury, West Midlands.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 315,064 357,969
Bank loans more 5 yr by instal 203,400 316,942
Hire purchase contracts (see note 9)
405,526

586,419
923,990 1,261,330

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 203,400 316,942
Hire purchase - 24,688
203,400 341,630

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 180,893 180,713
Between one and five years 405,526 561,731
In more than five years - 24,688
586,419 767,132

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

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

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 54,103 -
Between one and five years 67,388 -
121,491 -

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 152,224 153,461

Deferred
tax
£   
Balance at 1 January 2023 153,461
Reversal of timing differences (1,237 )
Balance at 31 December 2023 152,224

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

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

The Report of the Auditors was unqualified.

Paul Freeman BA FCA FCCA (Senior Statutory Auditor)
for and on behalf of Lawes & Co UK Limited (Statutory Auditors)

BERKELEY STAINLESS FITTINGS LIMITED (REGISTERED NUMBER: 03549436)

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

13. RELATED PARTY DISCLOSURES

During the year, an amount of £15,956 (2022: £11,360) was paid to Mr J P Hall, the company director, for rent of properties owned by him personally. Mr J P Hall also received dividends of £89,000 (2022: £74,500) during the year.

During the year the company entered into, in the normal course of its business, various contracts for sales and purchases with BDE (Northampton) Limited, a business owned by Mr J P Hall. The total value of sales, net of VAT, invoiced by the company during the year was £177,939 (2022: £215,220) and the total value of purchases was £974,587 (2022: £558,212). At 31 December 2023 £7,292 (2022: £32,707) was owed by BDE (Northampton) Limited to the company.

During the year the company entered into, in the normal course of its business, various contracts for sales and purchases with BSF Thailand, a business owned by Mr J P Hall. The total value of sales, net of VAT, invoiced by the company during the year was £65,811 (2022: £18,839) and the total value of purchases was £91,040 (2022: £121,337). At 31 December 2023 £62,516 (2022: £62,516) was owed to the company by BSF Thailand.

During the year the company entered into, in the normal course of its business, various contracts for sales and purchases with Berkeley Professional Fitness Limited, a business owned by Mr J P Hall. The total value of sales, net of VAT, invoiced by the company during the year was £16,179 (2022: £18,839) and the total value of purchases was £52,500 (2022: £Nil). At 31 December 2023 £Nil (2022: £Nil) was owed to the company by Berkeley Professional Fitness Limited.

The company had an a interest-free loan account with the director as at the balance sheet date of £737 (2022: £394).

14. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr J P Hall, who is the sole shareholder.