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Brumpton & Saunders LTD
Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 14257939
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 57,000 57,000
Tangible Assets 5 24,403 8,587
81,403 65,587
CURRENT ASSETS
Stocks 6 4,500 4,500
Debtors 7 935 4
Cash at bank and in hand 35,350 18,785
40,785 23,289
Creditors: Amounts Falling Due Within One Year 8 (121,586 ) (89,332 )
NET CURRENT ASSETS (LIABILITIES) (80,801 ) (66,043 )
TOTAL ASSETS LESS CURRENT LIABILITIES 602 (456 )
NET ASSETS/(LIABILITIES) 602 (456 )
CAPITAL AND RESERVES
Called up share capital 9 30,002 2
Profit and Loss Account (29,400 ) (458 )
SHAREHOLDERS' FUNDS 602 (456)
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Saunders
Director
19 November 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 August 2022 2 - 2
Loss for the year and total comprehensive income - (458 ) (458)
As at 31 July 2023 and 1 August 2023 2 (458 ) (456)
Loss for the year and total comprehensive income - (28,942 ) (28,942)
Arising on shares issued during the period 30,000 - 30,000
As at 31 July 2024 30,002 (29,400 ) 602
During the year the directors converted £30,000 of their loan account into share capital.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Brumpton & Saunders LTD is a private company, limited by shares, incorporated in England & Wales, registered number 14257939 . The registered office is The Golden Larches, Uaam Vaar, Balquhidder Station, Lochearnhead, FK19 8NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. The value of goodwill is assessed at each balance sheet date. The directors believe that the value of goodwill is in excess of the value shown on the balance sheet.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% on cost
2.5. 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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Intangible Assets
Goodwill
£
Cost or Valuation
As at 1 August 2023 57,000
As at 31 July 2024 57,000
Net Book Value
As at 31 July 2024 57,000
As at 1 August 2023 57,000
Page 4
Page 5
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2023 10,102
Additions 20,122
As at 31 July 2024 30,224
Depreciation
As at 1 August 2023 1,515
Provided during the period 4,306
As at 31 July 2024 5,821
Net Book Value
As at 31 July 2024 24,403
As at 1 August 2023 8,587
6. Stocks
2024 2023
£ £
Stock 4,500 4,500
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 935 4
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 278 -
Other taxes and social security 95 -
VAT 7,207 2,717
Accruals and deferred income 12,678 2,264
Directors' loan accounts 101,328 84,351
121,586 89,332
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30,002 2
10. Financial Instruments
There are no financial instruments that need reporting here.
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11. Exceptional Items
The company has substantially renovated all areas of the business. The cost of this renovation, which will not need to be done again in the near future, has been included in the profit and loss account as an extraordinary item.
12. Directors advances. Credits and Guarantees
At the 31 July 2024 the directors had invested £101,328 into the company as a long term loan. This will not be repaid until the company can repay it without incurring financial problems.
In addition, the directors have converted £30,000 of the loan into share capital.
Page 6