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Company Registration No. 01641557 (England and Wales)
S. P. Bardwell Limited Unaudited accounts for the year ended 31 May 2024
S. P. Bardwell Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
409,419 
397,182 
Current assets
Inventories
27,500 
30,000 
Debtors
115,436 
205,380 
Cash at bank and in hand
165,775 
142,196 
308,711 
377,576 
Creditors: amounts falling due within one year
(336,185)
(392,362)
Net current liabilities
(27,474)
(14,786)
Total assets less current liabilities
381,945 
382,396 
Creditors: amounts falling due after more than one year
(153,337)
(103,212)
Provisions for liabilities
Deferred tax
(77,789)
(63,439)
Net assets
150,819 
215,745 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
150,719 
215,645 
Shareholders' funds
150,819 
215,745 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by
S P Bardwell Director Company Registration No. 01641557
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S. P. Bardwell Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
S. P. Bardwell Limited is a private company, limited by shares, registered in England and Wales, registration number 01641557. The registered office is Unit 6 Mapledean Industrial Estate, Latchingdon, Chelmsford, Essex, CM3 6LG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Motor vehicles
10% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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S. P. Bardwell Limited Notes to the Accounts for the year ended 31 May 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
625,008 
457,961 
1,082,969 
Additions
87,700 
27,336 
115,036 
Disposals
(183,290)
(155,036)
(338,326)
At 31 May 2024
529,418 
330,261 
859,679 
Depreciation
At 1 June 2023
436,922 
248,865 
685,787 
Charge for the year
17,053 
17,631 
34,684 
On disposals
(165,729)
(104,482)
(270,211)
At 31 May 2024
288,246 
162,014 
450,260 
Net book value
At 31 May 2024
241,172 
168,247 
409,419 
At 31 May 2023
188,086 
209,096 
397,182 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
99,492 
195,343 
Other debtors
15,944 
10,037 
115,436 
205,380 
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S. P. Bardwell Limited Notes to the Accounts for the year ended 31 May 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
20,929 
23,840 
VAT
39,116 
- 
Obligations under finance leases and hire purchase contracts
36,295 
- 
Trade creditors
172,035 
276,799 
Amounts owed to group undertakings and other participating interests
517 
- 
Taxes and social security
50,741 
12,047 
Other creditors
16,552 
79,676 
336,185 
392,362 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
20,267 
31,522 
Obligations under finance leases and hire purchase contracts
133,070 
71,690 
153,337 
103,212 
8
Controlling party
The ultimate controlling party is S P Bardwell Holdings Limited, which is controlled by S P Bardwell Trustees Limited Employee Ownership Trust.
9
Average number of employees
During the year the average number of employees was 18 (2023: 21).
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