REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
BRIAN FELL (LEVEN) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
BRIAN FELL (LEVEN) LIMITED |
BRIAN FELL (LEVEN) LIMITED (REGISTERED NUMBER: 00878909) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
BRIAN FELL (LEVEN) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
17 Wright Street |
Hull |
East Yorkshire |
HU2 8HU |
BANKERS: |
214 Holderness Road |
Hull |
HU9 2AA |
SOLICITORS: |
Ocean Chambers |
54 Lowgate |
Hull |
HU1 1JF |
BRIAN FELL (LEVEN) LIMITED (REGISTERED NUMBER: 00878909) |
BALANCE SHEET |
30TH APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Revaluation reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
BRIAN FELL (LEVEN) LIMITED (REGISTERED NUMBER: 00878909) |
BALANCE SHEET - continued |
30TH APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BRIAN FELL (LEVEN) LIMITED (REGISTERED NUMBER: 00878909) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2024 |
1. | STATUTORY INFORMATION |
Brian Fell (Leven) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and receipts for contract services, excluding value added tax, adjusted for work in progress. |
Tangible fixed assets |
Depreciation is calculated to write down the cost less estimated residual value of all fixed assets (excluding freehold land) over their expected useful lives. |
The rates generally applicable are:- |
Freehold buildings | 2% per annum | - equal annual instalments |
Plant and machinery | 10% per annum | - reducing balance method |
Office equipment | 25% per annum | - reducing balance method |
Motor vehicles | 25% per annum | - reducing balance method |
No depreciation has been provided on the freehold buildings as the directors are of the opinion that the residual value of the freehold buildings is at least equal to the revalued amount. |
Stocks |
Stocks of materials etc are valued at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis, and net realisable value is the price at which stocks can be sold or applied to contracts in the normal course of business. Provision is made where necessary for slow moving and defective stocks. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
BRIAN FELL (LEVEN) LIMITED (REGISTERED NUMBER: 00878909) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leased assets |
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. |
All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions to this fund are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold |
land and | Plant and | Office | Motor |
buildings | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1st May 2023 |
Additions |
At 30th April 2024 |
DEPRECIATION |
At 1st May 2023 |
Charge for year |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
Cost or valuation at 30th April 2024 is represented by: |
Freehold |
land and | Plant and | Office | Motor |
buildings | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2013 | 62,399 | - | - | - | 62,399 |
Valuation in 2021 | 40,000 | - | - | - | 40,000 |
Cost | 152,310 | 525,697 | 120,426 | 160,102 | 958,535 |
254,709 | 525,697 | 120,426 | 160,102 | 1,060,934 |
BRIAN FELL (LEVEN) LIMITED (REGISTERED NUMBER: 00878909) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
If Freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 152,310 | 152,310 |
Aggregate depreciation | 9,933 | 9,933 |
Freehold land and buildings were valued on an open market basis by Scotts Chartered Surveyors. |
The net book value of tangible fixed assets includes £ 36,314 (2023 - £ 27,780 ) in respect of assets held under hire purchase contracts. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts recoverable on contracts |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
BRIAN FELL (LEVEN) LIMITED (REGISTERED NUMBER: 00878909) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdrafts |
Hire purchase contracts | 19,302 | 17,352 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 500 | 500 |
10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st May 2023 |
and 30th April 2024 |
11. | ULTIMATE CONTROLLING PARTY |
For both the current and previous year, the company was under the control of its directors. |
12. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme for certain senior employees. The assets of the scheme are held separately from those of the company in independently administered funds. |