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Registration number: 11253776

Symes Bains Broomer Ltd

Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 30 April 2024

 

Symes Bains Broomer Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Symes Bains Broomer Ltd

Company Information

Directors

A S Horwich

J H Musgrave

J Harriman

R Price

H Field

J Stones

Registered office

2 Park Square
Laneham Street
Scunthorpe
North Lincolnshire
DN15 6JH

 

Symes Bains Broomer Ltd

Directors' Report for the Period from 1 August 2023 to 30 April 2024

The Directors present their report and the financial statements for the period from 1 August 2023 to 30 April 2024.

Directors of the Company

The Directors who held office during the period were as follows:

A S Horwich

J H Musgrave

J Harriman

R Price

H Field

J Stones

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 13 November 2024 and signed on its behalf by:
 

.........................................
H Field
Director

.........................................
J Stones
Director

 

Symes Bains Broomer Ltd

(Registration number: 11253776)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

20,518

Tangible assets

5

33,329

35,054

 

33,330

55,572

Current assets

 

Debtors

6

1,327,478

1,390,358

Cash at bank and in hand

 

217,881

154,297

 

1,545,359

1,544,655

Creditors: Amounts falling due within one year

7

(677,175)

(751,045)

Net current assets

 

868,184

793,610

Total assets less current liabilities

 

901,514

849,182

Creditors: Amounts falling due after more than one year

7

-

(115,714)

Provisions for liabilities

(8,332)

(8,764)

Net assets

 

893,182

724,704

Capital and reserves

 

Called up share capital

8

104

104

Retained earnings

893,078

724,600

Shareholders' funds

 

893,182

724,704

For the financial period ending 30 April 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 period 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.

Approved and authorised by the Board on 13 November 2024 and signed on its behalf by:
 

H Field
Director

J Stones
Director

 
     
 

Symes Bains Broomer Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 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:
2 Park Square
Laneham Street
Scunthorpe
North Lincolnshire
DN15 6JH

These financial statements were authorised for issue by the Board on 13 November 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

Specifically in connection with the current economic climate, the directors have considered the impact on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason 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.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

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

 

Symes Bains Broomer Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

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

Fixtures and Fittings

5 year straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 year straight line basis

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.

 

Symes Bains Broomer Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 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 Directors) during the period, was 53 (2023 - 54).

 

Symes Bains Broomer Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

615,530

615,530

At 30 April 2024

615,530

615,530

Amortisation

At 1 August 2023

595,012

595,012

Amortisation charge

20,517

20,517

At 30 April 2024

615,529

615,529

Carrying amount

At 30 April 2024

1

1

At 31 July 2023

20,518

20,518

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

71,507

71,507

Additions

9,940

9,940

At 30 April 2024

81,447

81,447

Depreciation

At 1 August 2023

36,453

36,453

Charge for the period

11,665

11,665

At 30 April 2024

48,118

48,118

Carrying amount

At 30 April 2024

33,329

33,329

At 31 July 2023

35,054

35,054

6

Debtors

Current

2024
£

2023
£

Trade debtors

991,016

1,055,616

Prepayments

136,462

134,742

Other debtors

200,000

200,000

 

1,327,478

1,390,358

 

Symes Bains Broomer Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

242,791

404,892

Trade creditors

 

9,910

15,815

Taxation and social security

 

369,441

273,831

Accruals and deferred income

 

55,033

56,507

 

677,175

751,045

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordonary D of £1 each

1

1

1

1

104

104

104

104

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

40,265

Other borrowings

-

75,449

-

115,714

 

Symes Bains Broomer Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

142,121

296,892

Other borrowings

100,670

108,000

242,791

404,892

Creditors include bank loans and overdrafts which are secured of £nil (2023 - £14,634)

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,061,382 (2023 - £1,173,124).

11

Related party transactions

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

200,000

200,000

At end of period

200,000

200,000

2023

Subsidiary
£

Total
£

Advanced

200,000

200,000

At end of period

200,000

200,000

Terms of loans to related parties

There are no formal repayment terms with this loan. No interest is charged.