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Registration number: 00449650

Blundell Harling Limited

Annual Report and Unaudited Financial Statements Year Ended 31 March 2024

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Chartered Accountants

 

Blundell Harling Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Blundell Harling Limited

Company Information

Director

Mr T B Blundell

Registered office

9 Albany Road
WEYMOUTH
Dorset
DT4 9TH

Accountants

Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Blundell Harling Limitedfor the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blundell Harling Limited for the year ended 31 March 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Blundell Harling Limited, as a body, in accordance with the terms of our engagement letter dated 8 August 2019. Our work has been undertaken solely to prepare for your approval the accounts of Blundell Harling Limited and state those matters that we have agreed to state to the Board of Directors of Blundell Harling Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blundell Harling Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Blundell Harling Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Blundell Harling Limited. You consider that Blundell Harling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Blundell Harling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

14 October 2024

 

Blundell Harling Limited

(Registration number: 00449650)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

54,245

1,297,422

Investments

6

1

1

 

54,246

1,297,423

Current assets

 

Stocks

73,195

234,141

Debtors

7

234,817

85,457

Cash at bank and in hand

 

886,693

65,293

 

1,194,705

384,891

Creditors: Amounts falling due within one year

8

(171,289)

(260,461)

Net current assets

 

1,023,416

124,430

Total assets less current liabilities

 

1,077,662

1,421,853

Creditors: Amounts falling due after more than one year

8

(20,185)

(270,079)

Provisions for liabilities

-

(16,237)

Net assets

 

1,057,477

1,135,537

Capital and reserves

 

Called up share capital

13

603,515

603,515

Capital redemption reserve

391,150

391,150

Revaluation reserve

-

565,640

Retained earnings

62,812

(424,768)

Shareholders' funds

 

1,057,477

1,135,537

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.

Director's 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 director acknowledges his 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.

 

Blundell Harling Limited

(Registration number: 00449650)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 14 October 2024
 



Mr T B Blundell
Director

 

Blundell Harling Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Albany Road
WEYMOUTH
Dorset
DT4 9TH

These financial statements were authorised for issue by the director on 14 October 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are treated under the accruals method and credited to income so as to match them with the expenditure to which they relate.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Blundell Harling Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

The company took advantage of the FRS102 transition exemption to use the brought forward valuation of £1,200,000 in relation to the freehold property as deemed cost without adopting a policy of revaluation.

Tangible assets are stated in the statement of financial position 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

Freehold Land

Not depreciated

Freehold Buildings

Straight line over 50 years

Plant and machinery

Straight line over 10 years

Computer equipment

Straight line over 3 years

Fixtures, fittings and equipment

Straight line over 12.5 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Blundell Harling Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

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.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Blundell Harling Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2023 - 26).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

57,689

65,167

(Profit)/loss on disposal of tangible fixed assets

(174,556)

(391)

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

1,321,916

1,196,766

2,518,682

Additions

10,525

7,611

18,136

Disposals

(1,332,441)

(451,581)

(1,784,022)

At 31 March 2024

-

752,796

752,796

Depreciation

At 1 April 2023

140,769

1,080,491

1,221,260

Charge for the year

21,538

36,151

57,689

Eliminated on disposal

(162,307)

(418,091)

(580,398)

At 31 March 2024

-

698,551

698,551

Carrying amount

At 31 March 2024

-

54,245

54,245

At 31 March 2023

1,181,147

116,275

1,297,422

Included within the net book value of land and buildings above is £Nil (2023 - £1,181,147) in respect of freehold land and buildings.
 

 

Blundell Harling Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 April 2023

1,290,634

Provision

At 1 April 2023

1,290,633

Carrying amount

At 31 March 2024

1

At 31 March 2023

1

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Amerson Limited

United Kingdom

Ordinary

100%

100%

Magpie Furniture Limited

United Kingdom

Ordinary

100%

100%

Subsidiary undertakings

Amerson Limited

The principal activity of Amerson Limited is the manufacture of office furniture.

Magpie Furniture Limited

The principal activity of Magpie Furniture Limited is a dormant company.

7

Debtors

Current

2024
£

2023
£

Trade debtors

75,667

58,693

Prepayments

16,637

20,758

Other debtors

142,513

6,006

 

234,817

85,457

 

Blundell Harling Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

15,076

101,774

Trade creditors

 

98,885

81,360

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

14,835

22,904

Taxation and social security

 

17,778

21,912

Other creditors

 

24,715

32,511

 

171,289

260,461

Due after one year

 

Loans and borrowings

9

20,185

269,994

Deferred income

 

-

85

 

20,185

270,079

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

19,608

259,556

Finance lease liabilities

577

10,438

20,185

269,994

2024
£

2023
£

Current loans and borrowings

Bank borrowings

8,462

66,324

Bank overdrafts

-

21,747

Finance lease liabilities

6,614

13,703

15,076

101,774

10

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included within debtors is £140,000 retention due to the company upon the performance of certain actions. The retention has been been received post year end.

 

Blundell Harling Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

11

Related party transactions

Summary of transactions with all subsidiaries

Amerson Limited
(100% subsidiary company)
 The company made sales and direct recharges of materials of £32,434 (2023:£71,988) to Amerson Limited and recharged overheads of £8,383 (2023: £20,885). Further loans and transactions in the year give an amount due to Amerson Limited at 31 March 2024 of £14,835 (2023: £22,904).
 

12

Parent and ultimate parent undertaking

The ultimate controlling party is Mr T Blundell by virtue of holding 64.03% of Blundell Harling Limited's share capital.

13

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

603,515

603,515

603,515

603,515