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REGISTERED NUMBER: 02001227 (England and Wales)















B & S Supplies (Lancs) Limited

Unaudited Financial Statements for the Year Ended 30 April 2024






B & S Supplies (Lancs) Limited (Registered number: 02001227)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


B & S Supplies (Lancs) Limited

Company Information
for the Year Ended 30 April 2024







Director: Alexander Richard Stevenson





Secretary: Kathleen Brown





Registered office: 14 Bridge Street
Garstang
Lancashire
PR3 1YB





Registered number: 02001227 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

B & S Supplies (Lancs) Limited (Registered number: 02001227)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 259,463 265,086
259,463 265,086

Current assets
Stocks 53,161 51,093
Debtors 6 862 684
Cash at bank and in hand 37,366 56,003
91,389 107,780
Creditors
Amounts falling due within one year 7 64,902 67,250
Net current assets 26,487 40,530
Total assets less current liabilities 285,950 305,616

Creditors
Amounts falling due after more than
one year

8

(10,242

)

(14,800

)

Provisions for liabilities 9 (4,469 ) (5,522 )
Net assets 271,239 285,294

B & S Supplies (Lancs) Limited (Registered number: 02001227)

Statement of Financial Position - continued
30 April 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 100 100
Revaluation reserve 11 172,640 172,640
Retained earnings 98,499 112,554
Shareholders' funds 271,239 285,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2024 and were signed by:





Alexander Richard Stevenson - Director


B & S Supplies (Lancs) Limited (Registered number: 02001227)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

B & S Supplies (Lancs) 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% Straight Line
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are measured at cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


B & S Supplies (Lancs) Limited (Registered number: 02001227)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 11 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 18,264
Amortisation
At 1 May 2023
and 30 April 2024 18,264
Net book value
At 30 April 2024 -
At 30 April 2023 -

B & S Supplies (Lancs) Limited (Registered number: 02001227)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. Tangible fixed assets
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Cost or valuation
At 1 May 2023
and 30 April 2024 250,000 14,562 16,800 742 282,104
Depreciation
At 1 May 2023 7,000 8,576 700 742 17,018
Charge for year 400 1,198 4,025 - 5,623
At 30 April 2024 7,400 9,774 4,725 742 22,641
Net book value
At 30 April 2024 242,600 4,788 12,075 - 259,463
At 30 April 2023 243,000 5,986 16,100 - 265,086

Included in cost or valuation of land and buildings is freehold land of £ 50,000 (2023 - £ 50,000 ) which is not depreciated.

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2018 250,000 - - - 250,000
Cost - 14,562 16,800 742 32,104
250,000 14,562 16,800 742 282,104

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 152,574 152,574
Aggregate depreciation 95,035 92,984

Value of land in freehold land and buildings 50,000 50,000

Freehold land and buildings were valued on an open market basis on 31 March 2018 by the director .

B & S Supplies (Lancs) Limited (Registered number: 02001227)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 862 684

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loan 1,950 1,950
Hire purchase contracts 2,432 2,432
Trade creditors 20,858 20,306
Taxation and social security 15,711 18,909
Other creditors 23,951 23,653
64,902 67,250

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loan 3,148 5,275
Hire purchase contracts 7,094 9,525
10,242 14,800

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 4,469 5,522

Deferred
tax
£   
Balance at 1 May 2023 5,522
Credit to Statement of Income and Retained Earnings during year (1,053 )
Balance at 30 April 2024 4,469

10. Called up share capital

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

B & S Supplies (Lancs) Limited (Registered number: 02001227)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. Reserves
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 172,640