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REGISTERED NUMBER: 00277372 (England and Wales)
















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR


BRISTOL BUILDERS SUPPLIES LIMITED


BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023





Page




Company Information  

1




Strategic Report  

2




Report of the Directors  

5




Report of the Independent Auditors  

7




Income Statement  

11




Other Comprehensive Income  

12




Balance Sheet  

13




Statement of Changes in Equity  

14




Notes to the Financial Statements

15





BRISTOL BUILDERS SUPPLIES LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023









DIRECTORS:

P O'Donnell


L Hooper







REGISTERED OFFICE:

Head Office


107 South Liberty Lane


Ashton


Bristol


BS3 2SZ







REGISTERED NUMBER:

00277372 (England and Wales)







AUDITORS:

Lawes & Co UK Limited (Statutory Auditors)


Boyce's Building


40-42 Regent Street


Clifton


Bristol


BS8 4HU


BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report for the year ended 31 December 2023.


REVIEW OF BUSINESS

Bristol Builders Supplies principle activity is as a Plumbing & Heating merchant.


We have seen significant growth in the 12 months to December 2023. This is a result of a strong branch network, good working relationships with our customer base and suppliers, high stock levels, and diversifying the business with the new Renewables and Sustainability branch.


The directors continue to support growth in the company to acquire a greater market share as well as continuing to improve service levels.


We consider our key financial performance indicators to be those which communicate the performance and strength of the company as a whole. These are as follows:



December 2023


December 2022



              £


      £


Sales


31,237,919


24,963,642


Gross Profit


6,896,164


6,564,540


Gross Margin


22.1%


26.3%


Net Assets


5,986,709


5,865,424



There has continued to be pressure from both customers and suppliers on prices and this has affected our profit margins significantly. This is an industry wide issue as a result of the economic downturn in the UK. However the company's aim of providing a market leading service to its customers has helped to ensure that it remains financially stable and able to react to both customer and supplier demands. Management has implemented several measures to address the profitability of the business, including the closure of our central distribution location, the benefits of which can already be seen in 2024.


A constant review of processes coupled with increased development and use of technology has helped to maintain a high level of service to customers and limit the impact on margins.


The company has continued its commitment to retaining reserves within the company to help ensure that it has adequate liquid resources for future investment and a strong enough net assets position to remain financially viable for a long-term future



BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023


PRINCIPAL RISKS AND UNCERTAINTIES

The economic downturn in the UK has contributed to a challenging year of trading and this continues to be the case in 2024. The company will continue to adapt to the conditions and to trade successfully. With the financial strength built over the years, the relationships with customers and suppliers, and the positive expectations moving forward, we are well placed to continue managing the economic uncertainty and fast changing environment.


Interest rates remain relatively high and a significant cost to the business and uncertainty around changes to interest rates remains a risk to the business. Management has managed to reduce stockholding values significantly across the business to reduce the strain on cashflow without impacting our service to customers.


The financial stability of our major customers is crucial to the financial stability of our company, and this presents a risk outside of our control. To minimise this risk we ensure that we conduct our business within the contractual terms agreed with our customers. We also work closely with our large and frequent customers so that we are aware of their plans for future development. We can then make sure that we provide a cost effective and efficient service to them. The company will continue to work closely with the customers we have to manage our way through these challenging times.



BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023


FUTURE DEVELOPMENTS

The company continues to build professional and commercial relationships with suppliers and customers alike. This has helped to achieve good stock levels and communicate any significant stock shortages to our branches in a timely manner.


With the company's new IT system having been in place for 2 years, we believe the added benefits this industry leading technology brings to BBS will consistently improve operations, service, efficiency & cashflow over the course of 2024.


2023 saw the launch of BBS Renewable Solutions as a standalone branch and with increased service levels across our branch network, and we expect this area of the business to grow significantly with the continual increase in demand in the UK. 2024 will also see the opening of a new domestic branch in Weston-Super-Mare which demonstrates the growth aspirations of the company with the first branch located in North Somerset. In addition to Weston-Super-Mare there are several other new business developments that management is in the process of reviewing and implementing.


The company continues to expand sales through its showrooms and domestic branch network.

We expect to see continued growth in the Commercial sector after joining the commercial sector buying group the Regional Engineers Distributors Group (REDG), allowing us to be more competitive and grow in this market.


With improvements of stock availability across the plumbing & heating sector we aim to reduce and maintain overall stock value to its optimum level and thereby improve cashflow.


The company has sufficient financial resources together with numerous contracts in place at the year end with several customers. As a result the directors believe the company is well placed to manage its business risks successfully.


The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.


ON BEHALF OF THE BOARD:






L Hooper - Director



30 September 2024


BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.  


PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the sale of builders' materials and equipment.

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary A £1 shares

£357.14


-

Ordinary B £1 shares

£698.11


-

Ordinary C £1 shares

£2,429.78


-



The directors recommend that no final dividends be paid.


The total distribution of dividends for the year ended 31 December 2023 will be £ 494,440 .


DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.


P O'Donnell

L Hooper


STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.


BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2023



AUDITORS

The auditors,  Lawes & Co UK Limited (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:






L Hooper - Director



30 September 2024


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BRISTOL BUILDERS SUPPLIES LIMITED


Opinion

We have audited the financial statements of Bristol Builders Supplies Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.


Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BRISTOL BUILDERS SUPPLIES LIMITED



Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.


We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of directors' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit.


Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BRISTOL BUILDERS SUPPLIES LIMITED



Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


We identify and assess the risks of material misstatement in the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks. This includes assessing the risk of non-compliance of laws and regulations, evaluating management's incentives and opportunities for fraudulent manipulation of the financial statements (including override of control) and management bias in accounting estimates.


Based on our understanding of the entity, we identified the principal risks of non-compliance and fraud related to stock processes, as well as correct recognition of cash transactions. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006.


Audit procedures performed by the engagement team included, but were not limited to:

- enquiries with management including consideration of known or suspected instances of fraud and non-compliance with laws and regulations

- reviewing the design and implementation of controls and carrying out walkthrough testing

- reviewing journal entries and any potential unusual transactions

- tracing cash transactions through the accounts


In conducting the work above, we apply due care and professional scepticism throughout. However, there are limitations within procedures outlined above and the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve deliberate concealment.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BRISTOL BUILDERS SUPPLIES LIMITED



Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.





Paul Freeman BA FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lawes & Co UK Limited (Statutory Auditors)

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU


30 September 2024


BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   



TURNOVER

31,237,919


24,963,642




Cost of sales

24,341,755


18,399,102



GROSS PROFIT

6,896,164


6,564,540




Distribution costs

3,672,300


2,897,975



Administrative expenses

2,362,179


1,712,507



6,034,479

4,610,482

861,685


1,954,058




Other operating income

217


3,787



OPERATING PROFIT

4

861,902


1,957,845





Interest payable and similar expenses

6

101


562



PROFIT BEFORE TAXATION

861,801


1,957,283




Tax on profit

7

246,076


457,569



PROFIT FOR THE FINANCIAL YEAR

615,725


1,499,714




BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2023



31.12.23


31.12.22


Notes

£   

£   



PROFIT FOR THE YEAR

615,725


1,499,714





OTHER COMPREHENSIVE INCOME

-


-



TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

615,725


1,499,714




BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



BALANCE SHEET

31 DECEMBER 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

9

1,543,132


1,241,205



Investments

10

1,300


1,300



1,544,432


1,242,505




CURRENT ASSETS

Stocks

11

4,671,904


5,690,718



Debtors

12

6,599,446


5,620,137



Cash at bank and in hand

49,087


61,318



11,320,437


11,372,173



CREDITORS

Amounts falling due within one year

13

6,550,240


6,450,956



NET CURRENT ASSETS

4,770,197


4,921,217



TOTAL ASSETS LESS CURRENT

LIABILITIES

6,314,629


6,163,722




PROVISIONS FOR LIABILITIES

16

327,920


298,298



NET ASSETS

5,986,709


5,865,424




CAPITAL AND RESERVES

Called up share capital

17

267


267



Share premium

18

1,699


1,699



Capital redemption reserve

18

3,559


3,559



Retained earnings

18

5,981,184


5,859,899



SHAREHOLDERS' FUNDS

5,986,709


5,865,424




The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:






L Hooper - Director



BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023



Called up


Capital



share


Retained


Share


redemption


Total


capital


earnings


premium


reserve


equity

£   

£   

£   

£   

£   


Balance at 1 January 2022

267


4,845,046


1,699


3,559


4,850,571




Changes in equity

Dividends

-


(484,861

)

-


-


(484,861

)


Total comprehensive income

-


1,499,714


-


-


1,499,714



Balance at 31 December 2022

267


5,859,899


1,699


3,559


5,865,424




Changes in equity

Dividends

-


(494,440

)

-


-


(494,440

)


Total comprehensive income

-


615,725


-


-


615,725



Balance at 31 December 2023

267


5,981,184


1,699


3,559


5,986,709




BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


1.

STATUTORY INFORMATION



Bristol Builders Supplies 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.    



Financial Reporting Standard 102 - reduced disclosure exemptions


The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":




the requirements of Section 7 Statement of Cash Flows;



the requirement of paragraph 3.17(d).



The financial statements contain information about Bristol Builders Supplies as an individual company and do not contain consolidated financial information.  The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it is included by full consolidation in the consolidated financial statements of the parent, LH Management Services Limited, a company registered in England and Wales.



Copies of the LH Management Services consolidated financial statements can be obtained by contacting Mr L Hooper at 107 South Liberty Lane, Ashton, Bristol, BS3 2SZ.



Turnover

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


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Short leasehold

-

20% on cost


Plant and machinery

-

20% on cost


Fixtures and fittings

-

15% on cost


Motor vehicles

-

20% on cost


Computer equipment

-

15% on cost



Stocks

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


BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


2.

ACCOUNTING POLICIES - continued


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.


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.


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


31.12.23


31.12.22

£   

£   



Wages and salaries

3,309,282


2,616,177




Social security costs

328,961


262,801




Other pension costs

62,137


47,077



3,700,380


2,926,055





The average number of employees during the year was as follows:


31.12.23


31.12.22



Administrative staff

96


82





31.12.23


31.12.22

£   

£   



Directors' remuneration

16,080


16,080




BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


4.

OPERATING PROFIT



The operating profit is stated after charging/(crediting):



31.12.23


31.12.22

£   

£   



Depreciation - owned assets

363,099


282,381




(Profit)/loss on disposal of fixed assets

(440

)

3,818




Auditors' remuneration

15,200


19,000




Auditors' remuneration for non audit work

5,000


8,280




5.

EXCEPTIONAL ITEMS


31.12.23


31.12.22

£   

£   



Exceptional items

-


3,200




6.

INTEREST PAYABLE AND SIMILAR EXPENSES



31.12.23


31.12.22

£   

£   



Late payment interest

101


562




7.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the year was as follows:


31.12.23


31.12.22

£   

£   



Current tax:


UK corporation tax

216,454


346,227





Deferred tax

29,622


111,342




Tax on profit

246,076


457,569




8.

DIVIDENDS


31.12.23


31.12.22

£   

£   



Ordinary A shares of £1 each


Interim

10,000


10,001




Ordinary B shares of £1 each


Interim

37,000


37,000




Ordinary C shares of £1 each


Interim

447,440


437,860



494,440


484,861




BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


9.

TANGIBLE FIXED ASSETS


Fixtures


Short


Plant and


and


leasehold


machinery


fittings

£   

£   

£   



COST


At 1 January 2023

511,483


29,609


1,479,242




Additions

228,762


75,884


292,595




Disposals

-


-


(2,455

)



At 31 December 2023

740,245


105,493


1,769,382




DEPRECIATION


At 1 January 2023

473,872


18,022


564,580




Charge for year

40,909


13,520


219,592




Eliminated on disposal

-


-


(676

)



At 31 December 2023

514,781


31,542


783,496




NET BOOK VALUE


At 31 December 2023

225,464


73,951


985,886




At 31 December 2022

37,611


11,587


914,662





Motor


Computer



vehicles


equipment


Totals

£   

£   

£   



COST


At 1 January 2023

356,747


64,496


2,441,577




Additions

37,339


35,017


669,597




Disposals

(16,750

)

-


(19,205

)



At 31 December 2023

377,336


99,513


3,091,969




DEPRECIATION


At 1 January 2023

138,523


5,375


1,200,372




Charge for year

72,377


16,701


363,099




Eliminated on disposal

(13,958

)

-


(14,634

)



At 31 December 2023

196,942


22,076


1,548,837




NET BOOK VALUE


At 31 December 2023

180,394


77,437


1,543,132




At 31 December 2022

218,224


59,121


1,241,205




BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


10.

FIXED ASSET INVESTMENTS


Unlisted


investment

£   



COST


At 1 January 2023


and 31 December 2023

1,300




NET BOOK VALUE


At 31 December 2023

1,300




At 31 December 2022

1,300




11.

STOCKS


31.12.23


31.12.22

£   

£   



Stocks

4,671,904


5,690,718




12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Trade debtors

5,662,628


4,647,574




Other debtors

33,587


42,647




VAT

-


84,228




Prepayments and accrued income

903,231


845,688



6,599,446


5,620,137




13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Trade creditors

3,133,730


4,023,499




Tax

65,546


360,996




Social security and other taxes

89,659


65,152




VAT

192,640


-




Other creditors

2,338,382


1,545,259




Accrued expenses

730,283


456,050



6,550,240


6,450,956




BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


14.

LEASING AGREEMENTS



Minimum lease payments under non-cancellable operating leases fall due as follows:


31.12.23


31.12.22

£   

£   



Within one year

431,754


227,487




Between one and five years

1,262,134


898,910




In more than five years

221,000


184,667



1,914,888


1,311,064




15.

SECURED DEBTS



HSBC Invoice Finance (UK) Limited has a fixed and floating charge on purchased debt and non-vesting debts of the company.


16.

PROVISIONS FOR LIABILITIES


31.12.23


31.12.22

£   

£   



Deferred tax

327,920


298,298





Deferred



tax


£   



Balance at 1 January 2023

298,298




Accelerated capital allowances

29,622




Balance at 31 December 2023

327,920




17.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.12.23


31.12.22


value:

£   

£   



28

Ordinary A

£1

28


28




53

Ordinary B

£1

53


53




186

Ordinary C

£1

186


186



267


267




There are 3 classes of ordinary shares. All shares have full voting rights, are entitled to varying dividends and to a distribution on wind up.


BRISTOL BUILDERS SUPPLIES LIMITED (REGISTERED NUMBER: 00277372)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


18.

RESERVES


Capital



Retained


Share


redemption



earnings


premium


reserve


Totals

£   

£   

£   

£   




At 1 January 2023

5,859,899


1,699


3,559


5,865,157




Profit for the year

615,725


615,725




Dividends

(494,440

)

(494,440

)



At 31 December 2023

5,981,184


1,699


3,559


5,986,442




19.

ULTIMATE PARENT COMPANY



LH Management Services Limited is the ultimate parent company. The registered office is 107 South Liberty Lane, Ashton, BS3 2SZ.


20.

RELATED PARTY DISCLOSURES



During the year, the company paid dividends totalling £447,440 (2022: £407,860) to LH Management Services Limited, of which Mr L Hooper and Mr P O'Donnell are both directors and shareholders. At the year end, the company owed LH Management Services Limited £56,000 (2022: £60,500).


21.

ULTIMATE CONTROLLING PARTY



Mr L Hooper is regarded as the ultimate controlling party by virtue of his majority shareholding of the ultimate parent company.


22.

RETIREMENT BENEFITS



Employer pension costs for the year amounted to £62,137 (2022: £47,077) and these have been expensed to the profit and loss account.