Company registration number 04395830 (England and Wales)
BERRYBROOK MOTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
BERRYBROOK MOTORS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
BERRYBROOK MOTORS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
339,260
329,087
Current assets
Stocks
640,421
829,147
Debtors
4
120,833
239,035
Cash at bank and in hand
293,415
8,875
1,054,669
1,077,057
Creditors: amounts falling due within one year
5
(737,062)
(635,105)
Net current assets
317,607
441,952
Total assets less current liabilities
656,867
771,039
Creditors: amounts falling due after more than one year
6
(28,848)
(102,234)
Provisions for liabilities
(33,874)
(20,174)
Net assets
594,145
648,631
Capital and reserves
Called up share capital
260,356
260,356
Capital redemption reserve
128,644
128,644
Profit and loss reserves
205,145
259,631
Total equity
594,145
648,631
BERRYBROOK MOTORS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -

For the financial year ended 30 April 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 December 2024 and are signed on its behalf by:
Mr S Anthony
Director
Company registration number 04395830 (England and Wales)
BERRYBROOK MOTORS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 May 2022
260,356
128,644
284,225
673,225
Year ended 30 April 2023:
Profit and total comprehensive income
-
-
72,926
72,926
Dividends
-
-
(97,520)
(97,520)
Balance at 30 April 2023
260,356
128,644
259,631
648,631
Year ended 30 April 2024:
Profit and total comprehensive income
-
-
37,533
37,533
Dividends
-
-
(92,019)
(92,019)
Balance at 30 April 2024
260,356
128,644
205,145
594,145
BERRYBROOK MOTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Berrybrook Motors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Old Dawlish Road, Exminster, Exeter, Devon, EX6 8DN.

1.1
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 £.

1.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Leasehold land and buildings
4% straight line
Plant and equipment
20% reducing balance
Fixtures and fittings
10% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

BERRYBROOK MOTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BERRYBROOK MOTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
15
16
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
376,454
250,307
78,191
88,636
793,588
Additions
-
0
2,145
25,844
21,958
49,947
Disposals
-
0
-
0
(2,015)
(2,400)
(4,415)
At 30 April 2024
376,454
252,452
102,020
108,194
839,120
Depreciation and impairment
At 1 May 2023
184,614
161,274
48,392
70,221
464,501
Depreciation charged in the year
14,712
9,404
5,564
10,094
39,774
Eliminated in respect of disposals
-
0
-
0
(2,015)
(2,400)
(4,415)
At 30 April 2024
199,326
170,678
51,941
77,915
499,860
Carrying amount
At 30 April 2024
177,128
81,774
50,079
30,279
339,260
At 30 April 2023
191,840
89,033
29,799
18,415
329,087
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,801
391
Other debtors
92,394
216,033
Prepayments and accrued income
26,638
22,611
120,833
239,035
BERRYBROOK MOTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
225,596
96,082
Obligations under finance leases
4,629
-
0
Payments received on account
309,644
36,400
Trade creditors
112,056
385,513
Corporation tax
12,959
18,873
Other taxation and social security
28,518
23,463
Other creditors
29,286
63,249
Accruals and deferred income
14,374
11,525
737,062
635,105
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,727
102,234
Obligations under finance leases
7,121
-
0
28,848
102,234
7
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Key management personnel
21,081
60,147

No interest has been charged on this balance and there are no fixed dates for repayment.

2024
2023
Amounts due from related parties
£
£
Other related parties
22,280
141,919

Interest has been charged on this balance and there are no fixed dates for repayment.

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