Registered number
05009731
Brian Ramwell Classic Interiors Ltd
Unaudited Filleted Accounts
For the Year Ended
31 March 2024
Brian Ramwell Classic Interiors Ltd
Registered number: 05009731
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 166,185 187,278
Current assets
Stocks 23,910 32,529
Debtors 5 32,596 15,335
Cash at bank and in hand 33,223 104,686
89,729 152,550
Creditors: amounts falling due within one year 6 (104,629) (115,075)
Net current (liabilities)/assets (14,900) 37,475
Total assets less current liabilities 151,285 224,753
Creditors: amounts falling due after more than one year 7 (14,589) (31,494)
Provisions for liabilities (21,870) (19,963)
Net assets 114,826 173,296
Capital and reserves
Called up share capital 100 100
Profit and loss account 114,726 173,196
Shareholders' funds 114,826 173,296
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 members have 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.
JB Ramwell
Director
Approved by the board on 19 September 2024
Brian Ramwell Classic Interiors Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 20 years
Leasehold land and buildings over the lease term
Plant and machinery 15% reducing balance
Office expenses over 3 years
Motor vehicles 25% 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 150,000
At 31 March 2024 150,000
Amortisation
At 1 April 2023 150,000
At 31 March 2024 150,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 159,818 373,407 78,123 611,348
Additions - 7,087 - 7,087
At 31 March 2024 159,818 380,494 78,123 618,435
Depreciation
At 1 April 2023 79,909 292,408 51,753 424,070
Charge for the year 7,991 13,596 6,593 28,180
At 31 March 2024 87,900 306,004 58,346 452,250
Net book value
At 31 March 2024 71,918 74,490 19,777 166,185
At 31 March 2023 79,909 80,999 26,370 187,278
5 Debtors 2024 2023
£ £
Trade debtors 23,046 15,335
Other debtors 9,550 -
32,596 15,335
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 7,478 7,478
Trade creditors 51,620 59,844
Taxation and social security costs 29,105 25,338
Other creditors 6,426 12,415
104,629 115,075
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,072 22,500
Obligations under finance lease and hire purchase contracts 1,517 8,994
14,589 31,494
8 Other information
Brian Ramwell Classic Interiors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Lynn Garth
Gillinggate
Kendal
Cumbria
LA9 4JB
Brian Ramwell Classic Interiors Ltd 05009731 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 JB Ramwell No description of principal activity 05009731 2022-04-01 2023-03-31 05009731 core:WithinOneYear 2023-03-31 05009731 core:AfterOneYear 2023-03-31 05009731 core:ShareCapital 2023-03-31 05009731 core:RetainedEarningsAccumulatedLosses 2023-03-31 05009731 2023-04-01 2024-03-31 05009731 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05009731 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05009731 bus:Director40 2023-04-01 2024-03-31 05009731 1 2023-04-01 2024-03-31 05009731 2 2023-04-01 2024-03-31 05009731 core:LandBuildings 2023-04-01 2024-03-31 05009731 core:PlantMachinery 2023-04-01 2024-03-31 05009731 core:Vehicles 2023-04-01 2024-03-31 05009731 countries:England 2023-04-01 2024-03-31 05009731 bus:FRS102 2023-04-01 2024-03-31 05009731 bus:FilletedAccounts 2023-04-01 2024-03-31 05009731 2024-03-31 05009731 core:WithinOneYear 2024-03-31 05009731 core:AfterOneYear 2024-03-31 05009731 core:ShareCapital 2024-03-31 05009731 core:RetainedEarningsAccumulatedLosses 2024-03-31 05009731 core:Goodwill 2024-03-31 05009731 core:LandBuildings 2024-03-31 05009731 core:PlantMachinery 2024-03-31 05009731 core:Vehicles 2024-03-31 05009731 2023-03-31 05009731 core:Goodwill 2023-03-31 05009731 core:LandBuildings 2023-03-31 05009731 core:PlantMachinery 2023-03-31 05009731 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure