REGISTERED NUMBER: |
H A BRIDDON LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
REGISTERED NUMBER: |
H A BRIDDON LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
H A BRIDDON LIMITED (REGISTERED NUMBER: 00629237) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
H A BRIDDON LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bentley Bridge House |
Chesterfield Road |
Matlock |
Derbyshire |
DE4 5LE |
H A BRIDDON LIMITED (REGISTERED NUMBER: 00629237) |
ABRIDGED BALANCE SHEET |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
H A BRIDDON LIMITED (REGISTERED NUMBER: 00629237) |
ABRIDGED BALANCE SHEET - continued |
31 January 2024 |
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 |
H A BRIDDON LIMITED (REGISTERED NUMBER: 00629237) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
H A Briddon Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about H A Briddon Limited as an individual company and do not contain consolidated financial information as a parent company. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
When the outcome of a construction contract can be estimated reliably, the company shall recognise contract revenue and contract costs associated with the construction contract as revenue and expenses respectively by reference to the stage of completion of the contract activity at the end of the reporting period. |
When it is probable that total contract costs will exceed total contract revenue on a construction contract, the expected loss shall be recognised as an expense immediately. |
Tangible fixed assets |
Plant and machinery etc | - |
Freehold buildings are recognised at historical cost less depreciation to their expected net realisable value on a straight line basis over 50 years. Where the expected residual value less costs to sell exceeds the carrying value, no depreciation is accounted for. |
Freehold land is not depreciated. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks and work in progress |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
The value of work in progress at the year end is measured according to the expected turnover which will be generated for works completed but not yet invoiced at the year end. |
H A BRIDDON LIMITED (REGISTERED NUMBER: 00629237) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 January 2024 |
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. |
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. |
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. |
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. |
Rentals paid under operating leases are charged to income on as incurred over the lease term. |
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 |
H A BRIDDON LIMITED (REGISTERED NUMBER: 00629237) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 January 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 February 2023 | 236,741 |
Additions | 146,646 |
At 31 January 2024 | 383,387 |
DEPRECIATION |
At 1 February 2023 | 62,710 |
Charge for year | 80,170 |
At 31 January 2024 | 142,880 |
NET BOOK VALUE |
At 31 January 2024 | 240,507 |
At 31 January 2023 | 174,031 |
Outstanding amounts owing on hire purchase contracts are secured against the asset to which they relate. |
H A BRIDDON LIMITED (REGISTERED NUMBER: 00629237) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 January 2024 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 | 1 |
NET BOOK VALUE |
At 31 January 2024 | 1 |
At 31 January 2023 | 1 |
6. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
On 12 September 2023 the company became a wholly owned subsidiary of Briddon Holdings Limited by way of a share for share exchange. |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is S R Briddon by virtue of their majority shareholding in the company's parent company Briddon Holdings Limited. |