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Registration number: 01015812

G William Ballard Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

G William Ballard Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

G William Ballard Limited

Company Information

Directors

Mrs LA Ballard

Mr G W Ballard

Mr J J Ballard

Company secretary

Mrs LA Ballard

Registered office

Orchard House
Stud Farm
Abberley
Worcestershire
WA6 6AT

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

G William Ballard Limited

(Registration number: 01015812)
Balance Sheet as at 31 March 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Investments

4

40

40

Tangible assets

5

463,826

392,990

Current assets

 

Stocks

6

151,987

133,959

Debtors

7

17,570

25,367

Cash at bank and in hand

 

1

1

 

169,558

159,327

Creditors: Amounts falling due within one year

8

(252,342)

(205,663)

Net current liabilities

 

(82,784)

(46,336)

Total assets less current liabilities

 

381,082

346,694

Creditors: Amounts falling due after more than one year

8

(165,049)

(213,068)

Net assets

 

216,033

133,626

Capital and reserves

 

Called up share capital

144

144

Share premium reserve

5,940

5,940

Profit and loss account

209,949

127,542

Total equity

 

216,033

133,626

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.

Directors' 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 directors acknowledge their 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.

 

G William Ballard Limited

(Registration number: 01015812)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 20 December 2024 and signed on its behalf by:
 

.........................................
Mr G W Ballard
Director

   
     
 

G William Ballard 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 England and Wales.

The address of its registered office is:
Orchard House
Stud Farm
Abberley
Worcestershire
WA6 6AT
England

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
 

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

 

G William Ballard Limited

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

Asset class

Depreciation method and rate

Fixed assets

Fixed assets stated at historical cost with a provision made for diminution 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.

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.

 

G William Ballard Limited

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

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Intangible assets

Investments

£

At 1 April 2023

40

At 31 March 2024

40

 

G William Ballard Limited

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

171,137

5,989

43,988

545,602

766,716

Additions

-

-

-

99,908

99,908

At 31 March 2024

171,137

5,989

43,988

645,510

866,624

Depreciation

At 1 April 2023

98,347

4,037

35,351

235,991

373,726

Charge for the year

2,912

15

1,573

24,572

29,072

At 31 March 2024

101,259

4,052

36,924

260,563

402,798

Carrying amount

At 31 March 2024

69,878

1,937

7,064

384,947

463,826

At 31 March 2023

72,790

1,952

8,637

309,611

392,990

Included within the net book value of land and buildings above is £69,879 (2023 - £72,791) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

151,987

133,959

7

Debtors

Current

2024
£

2023
£

Trade debtors

6,373

6,845

Prepayments

8,690

8,689

Other debtors

2,507

9,833

 

17,570

25,367

 

G William Ballard 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

 

Bank loans and overdrafts

9

101,533

97,338

Trade creditors

 

20,672

1,613

Amounts owed to related parties

117,367

101,942

Taxation and social security

 

5,000

1,500

Other creditors

 

7,770

3,270

 

252,342

205,663

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

165,049

213,068

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

27,708

45,982

Hire purchase contracts

59,741

47,486

Other borrowings

77,600

119,600

165,049

213,068

2024
£

2023
£

Current loans and borrowings

Bank borrowings

13,409

17,616

Bank overdrafts

47,792

58,386

Hire purchase contracts

40,332

21,336

101,533

97,338

The prior year has been adjusted as assets had been overdepreciated. This has increased fixed assets and brought forward reserves by £24,758.