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COMPANY REGISTRATION NUMBER: 02999022
Brocklebank & Nilson Limited
Filleted Unaudited Financial Statements
30 April 2024
Brocklebank & Nilson Limited
Financial Statements
Period from 1 November 2022 to 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Brocklebank & Nilson Limited
Statement of Financial Position
30 April 2024
30 Apr 24
31 Oct 22
Note
£
£
£
Fixed assets
Tangible assets
5
754
Current assets
Stocks
34,444
Debtors
6
34,071
44,975
Cash at bank and in hand
35,902
64,433
--------
---------
69,973
143,852
Creditors: amounts falling due within one year
7
60
37,145
--------
---------
Net current assets
69,913
106,707
--------
---------
Total assets less current liabilities
69,913
107,461
--------
---------
Net assets
69,913
107,461
--------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
69,911
107,459
--------
---------
Shareholders funds
69,913
107,461
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 April 2024 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Brocklebank & Nilson Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 17 October 2024 , and are signed on behalf of the board by:
Mr A Brocklebank
Director
Company registration number: 02999022
Brocklebank & Nilson Limited
Notes to the Financial Statements
Period from 1 November 2022 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is First Floor, 2 City Road, Chester, Cheshire, CH1 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
15% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using the effective interest method.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 November 2022
17,276
4,681
21,957
Disposals
( 17,276)
( 4,681)
( 21,957)
--------
-------
--------
At 30 April 2024
--------
-------
--------
Depreciation
At 1 November 2022
17,053
4,150
21,203
Disposals
( 17,053)
( 4,150)
( 21,203)
--------
-------
--------
At 30 April 2024
--------
-------
--------
Carrying amount
At 30 April 2024
--------
-------
--------
At 31 October 2022
223
531
754
--------
-------
--------
6. Debtors
30 Apr 24
31 Oct 22
£
£
Trade debtors
34,050
44,975
Other debtors
21
--------
--------
34,071
44,975
--------
--------
7. Creditors: amounts falling due within one year
30 Apr 24
31 Oct 22
£
£
Trade creditors
26,702
Corporation tax
8,158
Social security and other taxes
2,106
Other creditors
60
179
----
--------
60
37,145
----
--------
8. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
30 Apr 24
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr A Brocklebank
----
----
----
31 Oct 22
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr A Brocklebank
( 181)
62
( 119)
----
----
----
9. Related party transactions
The company was under the control of Mr Brocklebank throughout the current and previous year. Mr Brocklebank is the managing director and 100% shareholder.