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BRUMFIT FACTORY EQUIPMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






BRUMFIT FACTORY EQUIPMENT LIMITED (REGISTERED NUMBER: 04424282)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRUMFIT FACTORY EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: J P Drake
D W Drake
Mrs D Drake





REGISTERED OFFICE: Foundry Works
Gibson Street
Bradford
West Yorkshire
BD3 9TF





REGISTERED NUMBER: 04424282 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

BRUMFIT FACTORY EQUIPMENT LIMITED (REGISTERED NUMBER: 04424282)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 7,318 9,919

CURRENT ASSETS
Stocks 5,850 13,500
Debtors 6 34,151 30,649
Cash at bank 57,324 38,318
97,325 82,467
CREDITORS
Amounts falling due within one year 7 65,413 61,486
NET CURRENT ASSETS 31,912 20,981
TOTAL ASSETS LESS CURRENT LIABILITIES 39,230 30,900

PROVISIONS FOR LIABILITIES 8 1,331 1,811
NET ASSETS 37,899 29,089

CAPITAL AND RESERVES
Called up share capital 9 103 103
Retained earnings 37,796 28,986
SHAREHOLDERS' FUNDS 37,899 29,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

BRUMFIT FACTORY EQUIPMENT LIMITED (REGISTERED NUMBER: 04424282)

BALANCE SHEET - continued
31 MAY 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:





J P Drake - Director


BRUMFIT FACTORY EQUIPMENT LIMITED (REGISTERED NUMBER: 04424282)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Brumfit Factory Equipment 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.

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

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


BRUMFIT FACTORY EQUIPMENT LIMITED (REGISTERED NUMBER: 04424282)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023
and 31 May 2024 19,670 4,004 40,484 4,271 68,429
DEPRECIATION
At 1 June 2023 19,203 2,872 32,476 3,959 58,510
Charge for year 117 170 2,002 312 2,601
At 31 May 2024 19,320 3,042 34,478 4,271 61,111
NET BOOK VALUE
At 31 May 2024 350 962 6,006 - 7,318
At 31 May 2023 467 1,132 8,008 312 9,919

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 31,322 28,137
Prepayments 2,829 2,512
34,151 30,649

BRUMFIT FACTORY EQUIPMENT LIMITED (REGISTERED NUMBER: 04424282)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 14,171 11,978
Tax 2,899 1,332
Social security and other taxes 1,317 1,250
VAT 6,588 2,078
Directors' current accounts 38,448 42,953
Accrued expenses 1,990 1,895
65,413 61,486

Loans from directors are interest free and repayable on demand.

8. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 1,331 1,811

Deferred
tax
£   
Balance at 1 June 2023 1,811
Accelerated capital allowances (480 )
Balance at 31 May 2024 1,331

The deferred tax balance is made up entirely of accelerated capital allowances.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100
3 Ordinary A to E £1 3 3
103 103