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REGISTERED NUMBER: 00430877 (England and Wales)















Bodle Bros Limited

Unaudited Financial Statements for the Year Ended 28 February 2024






Bodle Bros Limited (Registered number: 00430877)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bodle Bros Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: Mr M Sandercock
Mrs J Sandercock
Mr H Sandercock
Mr F Sandercock





SECRETARY: Mr M Sandercock





REGISTERED OFFICE: Southdown Store
Cuckfield Road
Burgess Hill
West Sussex
RH15 8RE





REGISTERED NUMBER: 00430877 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Bodle Bros Limited (Registered number: 00430877)

Balance Sheet
28 February 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,238,833 2,253,025
Investments 5 3 3
Investment property 6 410,000 410,000
2,648,836 2,663,028

CURRENT ASSETS
Stocks 488,814 528,466
Debtors 7 527,151 567,919
Cash in hand 306 878
1,016,271 1,097,263
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

1,035,522

1,071,498
NET CURRENT (LIABILITIES)/ASSETS (19,251 ) 25,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,629,585

2,688,793

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

9

(1,011,248

)

(1,074,817

)

PROVISIONS FOR LIABILITIES (153,481 ) (155,815 )
NET ASSETS 1,464,856 1,458,161

Bodle Bros Limited (Registered number: 00430877)

Balance Sheet - continued
28 February 2024

2024 2023
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 17,100 17,100
Revaluation reserve 12 458,443 458,443
Fair value reserve 12 317,056 317,056
Retained earnings 12 672,257 665,562
SHAREHOLDERS' FUNDS 1,464,856 1,458,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mr M Sandercock - Director


Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Bodle Bros Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those goods and services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 15% on reducing balance
Computer equipment - 20% on reducing balance

After initial recognition at cost, the company has adopted the revaluation model for its freehold property. Under the revaluation model, freehold property is carried at a revaluation amount, being its fair value at the date of revaluation. Any movement in the fair value of freehold property is included in other comprehensive income and recorded in a revaluation reserve.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in 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.

Pension costs and other post-retirement benefits
The company contributes to employees' pension schemes. Contributions payable are charged to the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 29 ) .

Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 March 2023 1,980,000 212,794 -
Additions - - 31,526
Disposals - - -
At 28 February 2024 1,980,000 212,794 31,526
DEPRECIATION
At 1 March 2023 - 130,569 -
Charge for year - 12,334 7,882
Eliminated on disposal - - -
At 28 February 2024 - 142,903 7,882
NET BOOK VALUE
At 28 February 2024 1,980,000 69,891 23,644
At 28 February 2023 1,980,000 82,225 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 348,986 17,216 2,558,996
Additions 36,763 3,525 71,814
Disposals (54,232 ) - (54,232 )
At 28 February 2024 331,517 20,741 2,576,578
DEPRECIATION
At 1 March 2023 165,238 10,164 305,971
Charge for year 40,744 2,115 63,075
Eliminated on disposal (31,301 ) - (31,301 )
At 28 February 2024 174,681 12,279 337,745
NET BOOK VALUE
At 28 February 2024 156,836 8,462 2,238,833
At 28 February 2023 183,748 7,052 2,253,025

Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 28 February 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2021 195,013 - -
Valuation in 2023 370,966 - -
Cost 1,414,021 212,794 31,526
1,980,000 212,794 31,526

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2021 - - 195,013
Valuation in 2023 - - 370,966
Cost 331,517 20,741 2,010,599
331,517 20,741 2,576,578

The fair value of the freehold properties has been determined by Matthew Wakeman BSc (Hons) MRIC of Vail Williams, who performed a valuation on 25 July 2022. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

Included within the net book value of tangible fixed assets is £162,658 (2023 - £195,520) in respect of assets held as security under hire purchase agreements and £1,980,000 (2023 - £1,980,000) in respect of assets held as security under a mortgage agreement.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 28 February 2024 3
NET BOOK VALUE
At 28 February 2024 3
At 28 February 2023 3

Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 28 February 2024 410,000
NET BOOK VALUE
At 28 February 2024 410,000
At 28 February 2023 410,000

Fair value at 28 February 2024 is represented by:
£   
Valuation in 1995 317,056
Cost 92,944
410,000

Included within the net book value of investment properties is £410,000 (2023 - £410,000) in respect of assets held as security under a mortgage agreement.

The fair value of the company's investment property was determined by Mathew Wakeman BSc (Hons) MRIC of Vail Williams on 25 July 2022. The directors consider that there has been no change in this fair value at 28 February 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 495,242 551,797
Other debtors 31,909 16,122
527,151 567,919

Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 261,125 231,432
Hire purchase contracts 46,876 33,803
Trade creditors 661,358 714,999
Taxation and social security 29,825 12,900
Other creditors 36,338 78,364
1,035,522 1,071,498

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans 949,615 988,390
Hire purchase contracts 57,633 82,427
Other creditors 4,000 4,000
1,011,248 1,074,817

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 796,366 852,725

Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank overdrafts 221,973 194,304
Hire purchase contracts 104,509 116,230
Bank loan 961,497 989,117
1,287,979 1,299,651

Hire purchase liabilities are secured against the assets to which they relate.

The bank loan is secured against the company's freehold and investment properties.

The overdraft is secured by way of a fixed and floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as
restated
£    £   
17,100 Ordinary £1 17,100 17,100

12. RESERVES
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 March 2023 713,841 458,443 317,056 1,489,340
Prior year adjustment (48,279 ) (48,279 )
665,562 1,441,061
Profit for the year 6,695 6,695
At 28 February 2024 672,257 458,443 317,056 1,447,756

Bodle Bros Limited (Registered number: 00430877)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances and credits to a director totalling £nil (2023 - £nil) and received repayments totalling £1,200 (2023 - £1,200). At the balance sheet date the director owed the company £3,267 (2023 - £4,467). This loan is unsecured, interest free and repayable on demand.

14. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed amounts to the estate of a former director totalling £5,008 (2023 - £15,818). This loan is unsecured, interest free and repayable on demand.