Company registration number 05794632 (England and Wales)
B&M BUILDING & CARPENTRY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
B&M BUILDING & CARPENTRY SERVICES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
B&M BUILDING & CARPENTRY SERVICES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr M Wheeler
Mr S Bailey
Company number
05794632
Registered office
30-31 St James Place
Mangotsfield
Bristol
BS16 9JB
Accountants
TC Group
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
B&M BUILDING & CARPENTRY SERVICES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,504
3,337
Current assets
Stocks
45,250
45,221
Debtors
4
53,302
68,373
Cash at bank and in hand
4,086
394
102,638
113,988
Creditors: amounts falling due within one year
5
(77,837)
(84,784)
Net current assets
24,801
29,204
Total assets less current liabilities
27,305
32,541
Creditors: amounts falling due after more than one year
6
(26,244)
(31,496)
Provisions for liabilities
(626)
(634)
Net assets
435
411
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
335
311
Total equity
435
411
B&M BUILDING & CARPENTRY SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 July 2024 and are signed on its behalf by:
Mr M Wheeler
Director
Company Registration No. 05794632
B&M BUILDING & CARPENTRY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
B&M Building & Carpentry Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30-31 St James Place, Mangotsfield, Bristol, BS16 9JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical costs convention.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
B&M BUILDING & CARPENTRY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
5,133
11,671
16,804
Depreciation and impairment
At 1 April 2023
3,873
9,594
13,467
Depreciation charged in the year
314
519
833
At 31 March 2024
4,187
10,113
14,300
Carrying amount
At 31 March 2024
946
1,558
2,504
At 31 March 2023
1,260
2,077
3,337
B&M BUILDING & CARPENTRY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
(1)
9,376
Other debtors
53,303
58,997
53,302
68,373
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,369
8,205
Trade creditors
4,119
35,657
Taxation and social security
52,877
29,032
Other creditors
12,472
11,890
77,837
84,784
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,244
31,496
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Overdrawn Loan
-
-
40,097
40,097
-
40,097
40,097