Registered number
05186669
Bridport Interiors Limited
Filleted Accounts
31 December 2023
Bridport Interiors Limited
Registered number: 05186669
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 278,895 268,832
Current assets
Stocks 353,105 145,519
Debtors 4 2,100,873 1,761,344
Cash at bank and in hand 1,507,417 671,862
3,961,395 2,578,725
Creditors: amounts falling due within one year 5 (715,521) (121,826)
Net current assets 3,245,874 2,456,899
Net assets 3,524,769 2,725,731
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,524,669 2,725,631
Shareholder's funds 3,524,769 2,725,731
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Koppit
Director
Approved by the board on 23 September 2024
Bridport Interiors Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 33.33% reducing balance
Motor vehicles 25% reducing balance
Plant and machinery 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 8
3 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 51,118 362,243 92,671 506,032
Additions 7,764 43,296 30,500 81,560
Disposals - (28,900) (25,750) (54,650)
At 31 December 2023 58,882 376,639 97,421 532,942
Depreciation
At 1 January 2023 45,359 113,503 78,338 237,200
Charge for the year 4,506 41,872 11,208 57,586
On disposals - (16,077) (24,662) (40,739)
At 31 December 2023 49,865 139,298 64,884 254,047
Net book value
At 31 December 2023 9,017 237,341 32,537 278,895
At 31 December 2022 5,759 248,740 14,333 268,832
4 Debtors 2023 2022
£ £
Trade debtors 615,179 255,294
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,464,710 1,433,996
Other debtors 20,984 72,054
2,100,873 1,761,344
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 378,913 17,002
Amounts owed to group undertakings and undertakings in which the company has a participating interest 57,188 57,188
Accruals and deferred income 26,180 23,767
Taxation and social security costs 253,240 12,539
Other creditors - 11,330
715,521 121,826
6 Other information
Bridport Interiors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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