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Registration number: 05659797

B J Campbell South West Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

B J Campbell South West Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

B J Campbell South West Limited

Company Information

Directors

L R Coulson

L C Campbell

D Collins

Registered office

Unit 6, Spencer House
Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shpeton Mallet
Somerset
BA4 5QE

 

B J Campbell South West Limited

(Registration number: 05659797)
Balance Sheet
31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

44,079

75,631

Current assets

 

Stocks

5

292,985

80,000

Debtors

6

202,545

521,646

Cash at bank and in hand

 

536,497

163,761

 

1,032,027

765,407

Creditors: Amounts falling due within one year

7

(560,304)

(328,968)

Net current assets

 

471,723

436,439

Total assets less current liabilities

 

515,802

512,070

Creditors: Amounts falling due after more than one year

7

(18,709)

(28,628)

Net assets

 

497,093

483,442

Capital and reserves

 

Called up share capital

151

151

Retained earnings

496,942

483,291

Shareholders' funds

 

497,093

483,442

 

B J Campbell South West Limited

(Registration number: 05659797)
Balance Sheet
31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................
L R Coulson
Director

 

B J Campbell South West Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6, Spencer House
Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

These financial statements were authorised for issue by the Board on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Sales comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities and are shown net of value added tax. The company recognises sales when the amount of sales can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. and is recognised in profit or loss,

 

B J Campbell South West Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Fixtures and fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business and are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

B J Campbell South West Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs and interest is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

B J Campbell South West Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 5).

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

88,696

106,653

195,349

Disposals

(3,445)

(31,372)

(34,817)

At 31 March 2024

85,251

75,281

160,532

Depreciation

At 1 April 2023

64,836

54,882

119,718

Charge for the year

4,134

9,267

13,401

Eliminated on disposal

-

(16,666)

(16,666)

At 31 March 2024

68,970

47,483

116,453

Carrying amount

At 31 March 2024

16,281

27,798

44,079

At 31 March 2023

23,860

51,771

75,631

5

Stocks

2024
£

2023
£

Work in progress

292,985

80,000

 

B J Campbell South West Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

6

Debtors

2024
£

2023
£

Trade debtors

145,112

468,710

Other debtors

51,368

45,159

Prepayments

6,065

7,777

202,545

521,646

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,161

27,639

Trade creditors

 

160,835

176,942

Inter company loan

9

337,112

25,300

Taxation and social security

 

30,226

77,468

Accruals and deferred income

 

4,200

3,850

Other creditors

 

17,770

17,769

 

560,304

328,968

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

18,709

28,628

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

18,709

28,628

 

B J Campbell South West Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

10,161

27,639

9

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Advances to director

-

269,625

269,625