2023-07-012024-06-302024-06-30false04780385L BRACKENBURY AND SON 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L BRACKENBURY AND SON LIMITED

Registered Number
04780385
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

L BRACKENBURY AND SON LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Mr A J Brackenbury
Mrs C A Brackenbury
Mr J L Brackenbury

Company Secretary

Mrs C A Brackenbury

Registered Address

19 Heath Road, Scopwick
Lincoln
Lincolnshire
LN4 3NU

Place of Business

The Garage

Heath Road

Scopwick

Lincoln

LN4 3NU


Registered Number

04780385 (England and Wales)
L BRACKENBURY AND SON LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4232,389239,166
232,389239,166
Current assets
Stocks577,22071,055
Debtors67,6337,600
Cash at bank and on hand538,493378,754
623,346457,409
Creditors amounts falling due within one year7(183,987)(199,699)
Net current assets (liabilities)439,359257,710
Total assets less current liabilities671,748496,876
Creditors amounts falling due after one year8(6,745)(13,839)
Provisions for liabilities9(24,982)(20,754)
Net assets640,021462,283
Capital and reserves
Called up share capital200200
Profit and loss account639,821462,083
Shareholders' funds640,021462,283
The financial statements were approved and authorised for issue by the Board of Directors on 18 October 2024, and are signed on its behalf by:
Mr A J Brackenbury
Director
Registered Company No. 04780385
L BRACKENBURY AND SON LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Revenue from sale of goods
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.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
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
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.
Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Goodwill on 5% straight line
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery15-
Office Equipment15-
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year77
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 July 23186,900186,900
At 30 June 24186,900186,900
Amortisation and impairment
At 01 July 23186,900186,900
At 30 June 24186,900186,900
Net book value
At 30 June 24--
At 30 June 23--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 July 23161,252141,47564,610367,337
Additions-17,2981,31218,610
Disposals-(20,145)(2,087)(22,232)
At 30 June 24161,252138,62863,835363,715
Depreciation and impairment
At 01 July 2314,82986,92426,418128,171
Charge for year6,4509,0025,82021,272
On disposals-(16,673)(1,444)(18,117)
At 30 June 2421,27979,25330,794131,326
Net book value
At 30 June 24139,97359,37533,041232,389
At 30 June 23146,42354,55138,192239,166
5.Stocks

2024

2023

££
Raw materials and consumables77,22071,055
Total77,22071,055
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,7704,716
Prepayments and accrued income2,8632,884
Total7,6337,600
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables52,17456,823
Bank borrowings and overdrafts7,0176,844
Taxation and social security104,66571,298
Other creditors17,03361,685
Accrued liabilities and deferred income3,0983,049
Total183,987199,699
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts6,74513,839
Total6,74513,839
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)24,98220,754
Total24,98220,754