B. B. Dairy Limited 06956754 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the supply of animal feed, fertiliser and silage additives. Digita Accounts Production Advanced 6.30.9574.0 true true 06956754 2023-09-01 2024-08-31 06956754 2024-08-31 06956754 bus:CompanySecretaryDirector1 1 2024-08-31 06956754 bus:CompanySecretaryDirector1 2 2024-08-31 06956754 bus:Director2 1 2024-08-31 06956754 bus:Director2 2 2024-08-31 06956754 core:RetainedEarningsAccumulatedLosses 2024-08-31 06956754 core:ShareCapital 2024-08-31 06956754 core:CurrentFinancialInstruments 2024-08-31 06956754 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 06956754 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 06956754 core:Goodwill 2024-08-31 06956754 core:OtherResidualIntangibleAssets 2024-08-31 06956754 core:FurnitureFittingsToolsEquipment 2024-08-31 06956754 core:MotorVehicles 2024-08-31 06956754 core:OtherPropertyPlantEquipment 2024-08-31 06956754 bus:SmallEntities 2023-09-01 2024-08-31 06956754 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 06956754 bus:FilletedAccounts 2023-09-01 2024-08-31 06956754 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 06956754 bus:RegisteredOffice 2023-09-01 2024-08-31 06956754 bus:CompanySecretaryDirector1 2023-09-01 2024-08-31 06956754 bus:CompanySecretaryDirector1 1 2023-09-01 2024-08-31 06956754 bus:CompanySecretaryDirector1 2 2023-09-01 2024-08-31 06956754 bus:Director2 2023-09-01 2024-08-31 06956754 bus:Director2 1 2023-09-01 2024-08-31 06956754 bus:Director2 2 2023-09-01 2024-08-31 06956754 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 06956754 core:Goodwill 2023-09-01 2024-08-31 06956754 core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 06956754 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 06956754 core:MotorVehicles 2023-09-01 2024-08-31 06956754 core:OfficeEquipment 2023-09-01 2024-08-31 06956754 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 06956754 core:PlantMachinery 2023-09-01 2024-08-31 06956754 core:Vehicles 2023-09-01 2024-08-31 06956754 countries:EnglandWales 2023-09-01 2024-08-31 06956754 2023-08-31 06956754 bus:CompanySecretaryDirector1 1 2023-08-31 06956754 bus:CompanySecretaryDirector1 2 2023-08-31 06956754 bus:Director2 1 2023-08-31 06956754 bus:Director2 2 2023-08-31 06956754 core:Goodwill 2023-08-31 06956754 core:OtherResidualIntangibleAssets 2023-08-31 06956754 core:FurnitureFittingsToolsEquipment 2023-08-31 06956754 core:MotorVehicles 2023-08-31 06956754 core:OtherPropertyPlantEquipment 2023-08-31 06956754 2022-09-01 2023-08-31 06956754 2023-08-31 06956754 bus:CompanySecretaryDirector1 1 2023-08-31 06956754 bus:CompanySecretaryDirector1 2 2023-08-31 06956754 bus:Director2 1 2023-08-31 06956754 bus:Director2 2 2023-08-31 06956754 core:RetainedEarningsAccumulatedLosses 2023-08-31 06956754 core:ShareCapital 2023-08-31 06956754 core:CurrentFinancialInstruments 2023-08-31 06956754 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 06956754 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 06956754 core:Goodwill 2023-08-31 06956754 core:OtherResidualIntangibleAssets 2023-08-31 06956754 core:FurnitureFittingsToolsEquipment 2023-08-31 06956754 core:MotorVehicles 2023-08-31 06956754 core:OtherPropertyPlantEquipment 2023-08-31 06956754 bus:CompanySecretaryDirector1 1 2022-09-01 2023-08-31 06956754 bus:CompanySecretaryDirector1 2 2022-09-01 2023-08-31 06956754 bus:Director2 1 2022-09-01 2023-08-31 06956754 bus:Director2 2 2022-09-01 2023-08-31 06956754 bus:CompanySecretaryDirector1 1 2022-08-31 06956754 bus:CompanySecretaryDirector1 2 2022-08-31 06956754 bus:Director2 1 2022-08-31 06956754 bus:Director2 2 2022-08-31 iso4217:GBP xbrli:pure

Company Registration number: 06956754

B. B. Dairy Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 August 2024

 

B. B. Dairy Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 10

 

B. B. Dairy Limited

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

208

908

Tangible assets

5

100,574

126,709

 

100,782

127,617

Current assets

 

Stocks

6

93,686

147,036

Debtors

7

394,650

444,098

Cash at bank and in hand

 

359,392

25,405

 

847,728

616,539

Creditors: Amounts falling due within one year

8

(262,597)

(206,594)

Net current assets

 

585,131

409,945

Total assets less current liabilities

 

685,913

537,562

Creditors: Amounts falling due after more than one year

8

(25,083)

(45,046)

Provisions for liabilities

(18,634)

(23,567)

Net assets

 

642,196

468,949

Capital and reserves

 

Called up share capital

200

200

Retained earnings

641,996

468,749

Shareholders' funds

 

642,196

468,949

 

B. B. Dairy Limited

Balance Sheet as at 31 August 2024 (continued)

For the financial year ending 31 August 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.

Company registration number: 06956754

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

.........................................
Mr J E Bainbridge
Director

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 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:
Crossbar View Farm
Soulby
Kirkby Stephen
CA17 4PJ

These financial statements were authorised for issue by the Board on 24 January 2025.

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 are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

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.
 

The current corporation 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.

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% straight line

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.

Intangible assets

An intangible asset is recognised at cost only if:
It meets the definition of an intangible asset (including a requirement to be identifiable), and
It is probable that the asset will result in a flow of economic benefits to an entity, and
The cost of the asset can be reliably measured.

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

20% straight line

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.

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Leases

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.

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.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 6).

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

4

INTANGIBLE ASSETS

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 September 2023

119,410

3,500

122,910

At 31 August 2024

119,410

3,500

122,910

Amortisation

At 1 September 2023

119,410

2,592

122,002

Amortisation charge

-

700

700

At 31 August 2024

119,410

3,292

122,702

Carrying amount

At 31 August 2024

-

208

208

At 31 August 2023

-

908

908

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

5

TANGIBLE ASSETS

Office equipment
£

Motor vehicles
 £

Plant and
machinery
£

Total
£

Cost or valuation

At 1 September 2023

4,220

160,983

47,929

213,132

Additions

1,725

-

4,510

6,235

At 31 August 2024

5,945

160,983

52,439

219,367

Depreciation

At 1 September 2023

3,976

45,885

36,562

86,423

Charge for the year

420

28,774

3,176

32,370

At 31 August 2024

4,396

74,659

39,738

118,793

Carrying amount

At 31 August 2024

1,549

86,324

12,701

100,574

At 31 August 2023

244

115,098

11,367

126,709

6

STOCKS

2024
£

2023
£

Stocks

93,686

147,036

7

DEBTORS

Current

2024
£

2023
£

Trade debtors

353,661

390,842

Prepayments

21,462

36,353

Other debtors

19,527

16,903

 

394,650

444,098

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

8

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

19,963

18,235

Trade creditors

150,304

137,801

Taxation and social security

86,017

42,888

Accruals and deferred income

5,246

4,660

Other creditors

1,067

3,010

262,597

206,594


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £19,963 (2023: £18,235).

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

25,083

45,046


Creditors include net obligations under finance lease and hrie purchase contracts which are secured of £25,083 (2023: £45,046).

 

B. B. Dairy Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

9

RELATED PARTY TRANSACTIONS

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Mrs J E Bainbridge

Director's loan account

8,451

9,753

(8,451)

9,753

-

-

-

-

8,451

9,753

(8,451)

9,753

Mr J E Bainbridge

Director's loan account

8,451

9,753

(8,451)

9,753

-

-

-

-

8,451

9,753

(8,451)

9,753

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Mrs J E Bainbridge

Director's loan account

16,054

8,451

(16,054)

8,451

-

-

-

-

16,054

8,451

(16,054)

8,451

Mr J E Bainbridge

Director's loan account

16,054

8,451

(16,054)

8,451

-

-

-

-

16,054

8,451

(16,054)

8,451