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Registration number: 07818901

D Bunker & Son Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

D Bunker & Son Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

D Bunker & Son Ltd

(Registration number: 07818901)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,440

4,116

Current assets

 

Stocks

5

27,950

20,000

Debtors

6

26,995

31,857

Cash at bank and in hand

 

28,559

12,065

 

83,504

63,922

Creditors: Amounts falling due within one year

7

(74,345)

(44,721)

Net current assets

 

9,159

19,201

Total assets less current liabilities

 

13,599

23,317

Creditors: Amounts falling due after more than one year

7

(12,500)

(17,500)

Provisions for liabilities

(844)

(975)

Net assets

 

255

4,842

Capital and reserves

 

Called up share capital

100

100

Retained earnings

155

4,742

Shareholders' funds

 

255

4,842

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2024
 

 

D Bunker & Son Ltd

(Registration number: 07818901)
Balance Sheet as at 31 December 2023

.........................................
Mr M Bunker
Company secretary and director

 

D Bunker & Son Ltd

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:
D Bunker & Son Ltd
Pantiles
Chapel Croft, Chipperfield
Kings Langley
Herts
WD4 9EQ

These financial statements were authorised for issue by the director on 8 August 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

D Bunker & Son Ltd

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Stocks

Work in progress consists of works undertaken not yet invoiced. The value of work in progress is arrived at by reference to its sales value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

D Bunker & Son Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

4,280

16,275

6,214

26,769

Additions

-

-

1,804

1,804

At 31 December 2023

4,280

16,275

8,018

28,573

Depreciation

At 1 January 2023

3,986

14,521

4,146

22,653

Charge for the year

73

439

968

1,480

At 31 December 2023

4,059

14,960

5,114

24,133

Carrying amount

At 31 December 2023

221

1,315

2,904

4,440

At 31 December 2022

294

1,754

2,068

4,116

5

Stocks

2023
£

2022
£

Work in progress

27,950

20,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

4,000

4,104

Other debtors

22,995

27,753

 

26,995

31,857

 

D Bunker & Son Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

12

5,000

5,000

Trade creditors

 

15,123

2,065

Taxation and social security

 

43,322

14,686

Accruals and deferred income

 

-

12,070

Other creditors

 

10,900

10,900

 

74,345

44,721

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

12

12,500

17,500

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of 850.00 (2022 - 320.00) per each Ordinary

85,000

32,000

 

 

10

Related party transactions

At the company year end the director owed the company £17,192 (2022 : £27,754).

11

Controlling party

The ultimate controlling party is Mark Bunker, the director of the company by virtue of his shareholding. .

 

D Bunker & Son Ltd

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

12

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

12,500

17,500

Current loans and borrowings

2023
£

2022
£

Bank borrowings

5,000

5,000