REGISTERED NUMBER: |
Bodle Bros Limited |
Unaudited Financial Statements for the Year Ended 28 February 2024 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash in hand |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
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 |
Revaluation reserve | 12 |
Fair value reserve | 12 |
Retained earnings | 12 | 665,562 |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
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 |
Additions |
Disposals |
At 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
Eliminated on disposal |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 March 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
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 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
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 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
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 |
Other debtors |
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 |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
as | restated |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
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 |
Hire purchase contracts | 104,509 | 116,230 |
Bank loan | 961,497 | 989,117 |
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 |
£ | £ |
Ordinary | £1 | 17,100 | 17,100 |
12. | RESERVES |
Fair |
Retained | Revaluation | value |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 March 2023 |
Prior year adjustment | ( |
) | ( |
) |
1,441,061 |
Profit for the year |
At 28 February 2024 | 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. |