Company registration number 06230459 (England and Wales)
Bernie Bishop Limited
Annual report and unaudited financial statements
For the year ended 30 April 2024
Pages for filing with registrar
Bernie Bishop Limited
Contents
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 7
Bernie Bishop Limited
Directors' report
For the year ended 30 April 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 April 2024.

Principal activities
The principal activity of the company is painting and decorating contractors.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

B F J Bishop
M B Bishop
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
B F J Bishop
Director
31 January 2025
Bernie Bishop Limited
Profit and loss account
For the year ended 30 April 2024
- 2 -
2024
2023
£
£
Turnover
195,850
185,600
Cost of sales
(146,652)
(139,285)
Gross profit
49,198
46,315
Administrative expenses
(39,240)
(39,489)
Operating profit
9,958
6,826
Interest receivable and similar income
-
0
12
Interest payable and similar expenses
(939)
(1,183)
Profit before taxation
9,019
5,655
Tax on profit
(2,808)
(2,267)
Profit for the financial year
6,211
3,388

The profit and loss account has been prepared on the basis that all operations are continuing operations.

Bernie Bishop Limited
Balance sheet
As at 30 April 2024
30 April 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
18,750
25,000
Tangible assets
3
1,347
589
20,097
25,589
Current assets
Stocks
1,250
1,250
Debtors
5
25,651
15,513
Cash at bank and in hand
58,026
79,716
84,927
96,479
Creditors: amounts falling due within one year
6
(74,498)
(67,554)
Net current assets
10,429
28,925
Total assets less current liabilities
30,526
54,514
Creditors: amounts falling due after more than one year
7
(12,963)
(24,074)
Provisions for liabilities
(49)
(112)
Net assets
17,514
30,328
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
17,414
30,228
Total equity
17,514
30,328

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
B F J Bishop
Director
Company Registration No. 06230459
Bernie Bishop Limited
Notes to the financial statements
For the year ended 30 April 2024
- 4 -
1
Accounting policies
Company information

Bernie Bishop Limited is a private company limited by shares incorporated in England and Wales. The registered office is 38 Grimthorpe Avenue, Whitstable, Kent, CT5 4PZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, net of discounts and value added taxes.

1.3
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of twenty years.

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% straight line basis
Fixtures, fittings & equipment
25% straight line basis
Motor vehicles
25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the net book value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.

 

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

Bernie Bishop Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
-
0
1,732
16,250
17,982
Additions
1,450
-
0
-
0
1,450
At 30 April 2024
1,450
1,732
16,250
19,432
Depreciation and impairment
At 1 May 2023
-
0
1,143
16,250
17,393
Depreciation charged in the year
363
329
-
0
692
At 30 April 2024
363
1,472
16,250
18,085
Carrying amount
At 30 April 2024
1,087
260
-
0
1,347
At 30 April 2023
-
0
589
-
0
589
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
125,000
Amortisation
At 1 May 2023
100,000
Amortisation charged for the year
6,250
At 30 April 2024
106,250
Net book value
At 30 April 2024
18,750
At 30 April 2023
25,000
Bernie Bishop Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
25,286
15,185
Prepayments and accrued income
365
328
25,651
15,513
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,682
15,113
Trade creditors
4,305
5,428
Corporation tax
2,871
2,673
Other taxation and social security
10,559
9,877
Other creditors
34,286
31,368
Accruals and deferred income
5,795
3,095
74,498
67,554
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
12,963
24,074
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
49
112
2024
Movements in the year:
£
Liability at 1 May 2023
112
Credit to profit or loss
(63)
Liability at 30 April 2024
49
Bernie Bishop Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 7 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary "A" shares of £1 each
55
55
55
55
Ordinary "B" shares of £1 each
25
25
25
25
Ordinary "C" shares of £1 each
20
20
20
20
100
100
100
100
10
Directors' transactions

Dividends totalling £19,025 (2023 - £17,850) were paid in the year in respect of shares held by the company's directors.

The directors' loan accounts were not overdrawn during the year.

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