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REGISTERED NUMBER: 01013092 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

BUCKLE SHIPPING (IPSWICH) LIMITED

BUCKLE SHIPPING (IPSWICH) LIMITED (REGISTERED NUMBER: 01013092)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30th April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


BUCKLE SHIPPING (IPSWICH) LIMITED

COMPANY INFORMATION
for the year ended 30th April 2024







DIRECTORS: A J Cusworth
T C Buckle
T J Maddison
Mrs J Buckle
Mrs M A Cusworth



SECRETARY: Mrs M A Cusworth



REGISTERED OFFICE: Priestley House
Priestley Gardens
Chadwell Heath
Romford
Essex
RM6 4SN



REGISTERED NUMBER: 01013092 (England and Wales)



AUDITORS: Chegwidden & Co
Statutory Auditors
Chartered Accountants
Priestley House
Priestley Gardens
Chadwell Heath
Essex, RM6 4SN



SOLICITORS: Birkett, Westhorp & Long
20-32 Museum Street
Ipswich
Suffolk
IP1 1HZ

BUCKLE SHIPPING (IPSWICH) LIMITED (REGISTERED NUMBER: 01013092)

ABRIDGED BALANCE SHEET
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,411,977 1,297,605
Investments 5 417,117 285,543
1,829,094 1,583,148

CURRENT ASSETS
Debtors 2,184,797 1,992,661
Cash at bank 1,232,543 1,411,294
3,417,340 3,403,955
CREDITORS
Amounts falling due within one year 1,412,751 1,305,782
NET CURRENT ASSETS 2,004,589 2,098,173
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,833,683

3,681,321

PROVISIONS FOR LIABILITIES 192,364 161,774
NET ASSETS 3,641,319 3,519,547

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,640,319 3,518,547
SHAREHOLDERS' FUNDS 3,641,319 3,519,547

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th January 2025 and were signed on its behalf by:





A J Cusworth - Director


BUCKLE SHIPPING (IPSWICH) LIMITED (REGISTERED NUMBER: 01013092)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30th April 2024

1. STATUTORY INFORMATION

Buckle Shipping (Ipswich) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services - When providing day services, turnover is usually recognised on completion of the service and, for monthly engagements, it is recognised by reference to the stage of completion at the balance sheet date.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long Leasehold - 6.67% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

BUCKLE SHIPPING (IPSWICH) LIMITED (REGISTERED NUMBER: 01013092)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2023 1,453,038
Additions 343,394
Disposals (55,440 )
At 30th April 2024 1,740,992
DEPRECIATION
At 1st May 2023 155,433
Charge for year 225,906
Eliminated on disposal (52,324 )
At 30th April 2024 329,015
NET BOOK VALUE
At 30th April 2024 1,411,977
At 30th April 2023 1,297,605

BUCKLE SHIPPING (IPSWICH) LIMITED (REGISTERED NUMBER: 01013092)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th April 2024

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st May 2023 285,543
Additions 131,574
At 30th April 2024 417,117
NET BOOK VALUE
At 30th April 2024 417,117
At 30th April 2023 285,543

In the opinion of the directors, the market value of the unlisted investments exceeds cost.

6. SECURED DEBTS

Bank borrowings are secured by a debenture over the assets of the company, dated 26th July 1990.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

P G Harris (Senior Statutory Auditor)
for and on behalf of Chegwidden & Co

8. RELATED PARTY DISCLOSURES

Mrs J Buckle is a director of Buckle Management & Holdings Limited and B M W Shipping Agents Limited, companies incorporated in England.

Trading transactions
Sales Ledger Purchase Ledger Balances
Transactions Transactions at 30/4/24
£ £ £
J Buckle -

Buckle Management &
Holdings Ltd - 44,150 -

B M W Shipping Agents Ltd - - -


The purchase ledger transaction with Buckle Management and Holdings Limited is a management charge shown within administration expenses in the Profit & Loss Account.

9. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature, our auditors provide general tax advice and assist us in the preparation of the financial statements and in the preparation and submission of returns to the tax authorities.

BUCKLE SHIPPING (IPSWICH) LIMITED (REGISTERED NUMBER: 01013092)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30th April 2024

10. ULTIMATE CONTROLLING PARTY

At 30th April 2024 the ultimate holding company was Buckle Management and Holdings Limited, a company incorporated in England.