REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2024 |
for |
Bury & Bean Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2024 |
for |
Bury & Bean Ltd |
Bury & Bean Ltd (Registered number: 04475393) |
Contents of the Financial Statements |
for the Year Ended 31 October 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Bury & Bean Ltd |
Company Information |
for the Year Ended 31 October 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
6 High Street |
Wheathampstead |
Hertfordshire |
AL4 8AA |
Bury & Bean Ltd (Registered number: 04475393) |
Balance Sheet |
31 October 2024 |
31.10.24 | 31.10.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
Bury & Bean Ltd (Registered number: 04475393) |
Balance Sheet - continued |
31 October 2024 |
31.10.24 | 31.10.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bury & Bean Ltd (Registered number: 04475393) |
Notes to the Financial Statements |
for the Year Ended 31 October 2024 |
1. | STATUTORY INFORMATION |
Bury & Bean Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Rivermill House, 6 High Street, Wheathampstead, Herts, AL4 8AA. |
The financial statements are presented in Sterling, which is the functional currency of the company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue comprises the fair value of goods and services supplied by the company, net of Value Added Tax and trade discounts having regard to the fulfilment of contractual obligations. |
Intangible fixed assets |
Goodwill is amortised at 5% per annum on the straight line basis, subject to review for any impairment loss. |
Tangible assets and depreciation |
Tangible fixed assets are stated at cost less depreciation. |
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |
Trademark - 25% Reducing Balance |
Plant and Equipment - 25% Reducing Balance |
Commercial Vehicles - 25% Reducing Balance. |
Stocks |
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Bury & Bean Ltd (Registered number: 04475393) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities i the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Foreign currencies |
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated. |
Pension costs |
Contributions in respect of the company's defined contribution pension scheme are charged to the Profit and Loss Account for the year in which they are payable to the Scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year-end. |
Dividends |
Final ordinary dividends payable to shareholders of the Company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Bury & Bean Ltd (Registered number: 04475393) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2023 |
and 31 October 2024 |
AMORTISATION |
At 1 November 2023 |
and 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | Trademark | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2023 |
and 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Other debtors |
Bury & Bean Ltd (Registered number: 04475393) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Bank loans and overdraft (see note 9) |
Trade creditors |
Tax |
Other tax & social security |
Directors' loan accounts | 1,913 | 4,779 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Bank loans (see note 9) |
The Bank Loan is unsecured and repayable over six years from inception in September 2020. |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.10.24 | 31.10.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bounceback Loan - Current | 5,000 | 5,000 |
Amounts falling due between one and five years: |
Bounceback Loan | 4,893 | 9,912 |
Bury & Bean Ltd (Registered number: 04475393) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
10. | PROVISIONS FOR LIABILITIES |
31.10.24 | 31.10.23 |
£ | £ |
Deferred tax |
Accelerated Capital Allowances | 2,100 | 2,800 |
Deferred |
Tax |
£ |
Balance at 1st November 2023 | 2,800 |
Applied in the year | 700 |
2,100 |
Deferred Tax has arisen because Capital Allowances exceed depreciation provided in the Accounts. |
Deferred tax is charged at 19%. |
11. | PENSION COMMITMENTS |
The company operates defined contribution pension schemes on behalf of its Director and certain employees. The assets of the Scheme are held separately from those of the company in independently administered funds. At the balance sheet date, unpaid contributions of Nil (2023 : Nil) were due to the funds. |