Company registration number 01161150 (England and Wales)
Charles Birch Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 June 2024
PAGES FOR FILING WITH REGISTRAR
Charles Birch Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Charles Birch Limited
Statement of financial position
as at 30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
729,066
662,754
Investments
4
126,726
126,726
855,792
789,480
Current assets
Stocks
2,975,977
3,442,890
Debtors
1,447,003
1,559,049
Cash at bank and in hand
990,220
516,097
5,413,200
5,518,036
Creditors: amounts falling due within one year
(943,200)
(1,067,407)
Net current assets
4,470,000
4,450,629
Net assets
5,325,792
5,240,109
Capital and reserves
Called up share capital
120,963
120,963
Capital redemption reserve
15,541
15,541
Profit and loss reserves
5,189,288
5,103,605
Total equity
5,325,792
5,240,109
Charles Birch Limited
Statement of financial position (continued)
as at 30 June 2024
- 2 -
For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 21 November 2024 and are signed on its behalf by:
C Wilson
Director
Company registration number 01161150 (England and Wales)
Charles Birch Limited
Notes to the financial statements
for the year ended 30 June 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% and 25% reducing balance
Fixtures and fittings
10% and 25% reducing balance
Motor vehicles
25% reducing balance
Fixed asset investments
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Charles Birch Limited
Notes to the financial statements (continued)
for the year ended 30 June 2024
1
Accounting policies
(continued)
- 4 -
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average number of employees during the year was:
2024
2023
Number
Number
Total
49
48
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
969,068
1,075,975
74,304
2,119,347
Additions
27,067
74,387
68,363
169,817
Disposals
(59,804)
(59,804)
At 30 June 2024
996,135
1,150,362
82,863
2,229,360
Depreciation and impairment
At 1 July 2023
757,449
657,242
41,902
1,456,593
Depreciation charged in the year
34,314
44,299
7,960
86,573
Eliminated in respect of disposals
(42,872)
(42,872)
At 30 June 2024
791,763
701,541
6,990
1,500,294
Carrying amount
At 30 June 2024
204,372
448,821
75,873
729,066
At 30 June 2023
211,619
418,733
32,402
662,754
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
126,726
126,726
Charles Birch Limited
Notes to the financial statements (continued)
for the year ended 30 June 2024
- 5 -
5
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
20,377
37,628
6
Ultimate controlling party
The company was controlled throughout the year and previous year by C H Wilson, a company director, and his family, who own the majority of the issued share capital.
7
Related party transactions
Transactions with related parties
The company operates from 4 Brown Lane West, Leeds which is owned by C H Wilson (a director) and from 7 Fleet Hall Road, Rochford which is owned by that director's family. Open market rents are paid for both sites and the total for the year was £166,000 (2023: £166,000).
The company sells goods in the ordinary course of trade to Boot Repair Company Ltd and at the reporting date the associate’s trade debt to the company was £36,980 (2023: £33,862).
Included in creditors due within one year are loans provided by members of C H Wilson's family totalling £250,000 (2023: £250,000). The loans bear interest at 6% per annum, are unsecured and have no fixed repayment terms.
During the year the company sold goods in the ordinary course of trade to Sports Junkie Ltd totalling £Nil (2023: £425,647).
8
Company information
Charles Birch Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brown Lane West, Gelderd Road, Leeds, LS12 6BH.