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Registration number: 02234502

A.J. Brunt Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

A.J. Brunt Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

A.J. Brunt Limited

(Registration number: 02234502)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

879,702

864,699

Investment property

5

9,299,168

9,299,168

Investments

6

1,604,218

1,084,729

 

11,783,088

11,248,596

Current assets

 

Stocks

7

5,000

1,680

Debtors

8

1,262,153

1,039,360

Cash at bank and in hand

 

3,722,067

3,617,895

 

4,989,220

4,658,935

Creditors: Amounts falling due within one year

9

(610,200)

(566,656)

Net current assets

 

4,379,020

4,092,279

Total assets less current liabilities

 

16,162,108

15,340,875

Creditors: Amounts falling due after more than one year

9

(3,890)

-

Provisions for liabilities

(1,669,964)

(1,663,735)

Net assets

 

14,488,254

13,677,140

Capital and reserves

 

Called up share capital

2

2

Other reserves

4,450,608

4,450,608

Retained earnings

10,037,644

9,226,530

Shareholders' funds

 

14,488,254

13,677,140

 

A.J. Brunt Limited

(Registration number: 02234502)
Balance Sheet as at 30 April 2024

For the financial year 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 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.

Approved and authorised by the Board on 21 January 2025 and signed on its behalf by:
 

M A Brunt
Director

A J Brunt
Director

 
     
 

A.J. Brunt Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Grove Lane
Marston Trading Estate
Frome
Somerset
BA11 4AT

These financial statements were authorised for issue by the Board on 21 January 2025.

2

Accounting policies

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 are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

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.

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.

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.

 

A.J. Brunt Limited

Notes to the Unaudited Financial Statements for the Year Ended 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% Straight line

Furniture, fittings and equipment

15% Reducing balance

Plant and machinery

15% Reducing balance

Office equipment

33% Straight line

Motor vehicles

15% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the Statement of Comprehensive Income.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

A.J. Brunt Limited

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

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 stocks 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.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

 

A.J. Brunt Limited

Notes to the Unaudited Financial Statements for the Year Ended 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 12 (2023 - 9).

 

A.J. Brunt Limited

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

4

Tangible assets

Freehold land and buildings
£

Furniture, fittings and equipment
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

569,229

21,787

867,627

19,978

1,861,603

3,340,224

Additions

-

-

-

1,116

119,893

121,009

At 30 April 2024

569,229

21,787

867,627

21,094

1,981,496

3,461,233

Depreciation

At 1 May 2023

307,463

9,383

662,492

19,108

1,477,079

2,475,525

Charge for the year

8,785

1,861

30,770

655

63,935

106,006

At 30 April 2024

316,248

11,244

693,262

19,763

1,541,014

2,581,531

Carrying amount

At 30 April 2024

252,981

10,543

174,365

1,331

440,482

879,702

At 30 April 2023

261,766

12,404

205,135

870

384,524

864,699

 

A.J. Brunt Limited

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

5

Investment properties

2024
£

At 1 May 2023 and 30 April 2024

9,299,168

The investment properties have been revalued by the Directors at the Balance Sheet date.

6

Investments

2024
£

2023
£

Other investments

1,604,218

1,084,729

Fixed asset investments comprise of a bond and a unit trust held by the company. The fair value of these investments has been calculated with reference to the market value calculated annually by St. James's Place at the end of each calendar year.

7

Stocks

2024
£

2023
£

Other inventories

5,000

1,680

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

419,718

478,129

Amounts owed by related parties

12

481,664

401,409

Other debtors

 

329,768

138,532

Prepayments

 

15,044

15,424

Accrued income

 

15,959

5,866

 

1,262,153

1,039,360

 

A.J. Brunt Limited

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

9

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

11

4,244

-

Trade creditors

 

64,661

83,678

Social security and other taxes

 

298,091

269,522

Other creditors

 

29,954

206

Accruals

 

213,250

213,250

 

610,200

566,656

Due after one year

 

Loans and borrowings

11

3,890

-

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Non-distributable reserve
£

Total
£

Surplus on property, plant and equipment revaluation

1,690,077

1,690,077

 

A.J. Brunt Limited

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

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

3,890

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

4,244

-

12

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to directors
£

At 30 April 2024
£

Transactions during the year

401,409

80,255

481,664

       
     

 

2023

At 1 May 2022
£

Advances to directors
£

At 30 April 2023
£

Transactions during the year

401,284

125

401,409

 

During the year, the company continued to provide the director with a loan. This loan is charged interest at the HMRC approved rate and is repayable on demand.