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Registration number: 03924524

Bulwark House Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 May 2024

 

Bulwark House Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Bulwark House Limited

Company Information

Directors

Mr W G P Jones

Mrs N M P Davies-Wheeler

Company secretary

Mr A M Knipe

Registered office

Bulwark House
5 The Bulwark
Brecon
Powys
LD3 7LB

 

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Bulwark House Limited

(Registration number: 03924524)

Balance Sheet
as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

11,887

13,272

Investments

6

2,640

2,640

 

14,528

15,913

Current assets

 

Stocks

108,631

115,119

Debtors

7

17,838

11,563

Cash at bank and in hand

 

213,283

197,740

 

339,752

324,422

Creditors: Amounts falling due within one year

8

(31,617)

(46,791)

Net current assets

 

308,135

277,631

Total assets less current liabilities

 

322,663

293,544

Provisions for liabilities

(1,098)

(1,067)

Net assets

 

321,565

292,477

Capital and reserves

 

Called up share capital

83,500

83,500

Profit and loss account

238,065

208,977

Total equity

 

321,565

292,477

For the financial 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.

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.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Bulwark House Limited

(Registration number: 03924524)

Balance Sheet
as at 31 May 2024

Approved and authorised by the Board on 20 November 2024 and signed on its behalf by:
 

.........................................

Mr W G P Jones

Director

 

Bulwark House Limited

Notes to the Financial Statements
for the Year Ended 31 May 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:
Bulwark House
5 The Bulwark
Brecon
Powys
LD3 7LB

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.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.

Revenue recognition

Turnover represents cash sales and invoiced credit sales, net of Value Added Tax. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates and VAT.

Government grants

Grants received from the government as part of the Coronavirus financial support package are shown on the receivable basis.

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 income 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.

 

Bulwark House Limited

Notes to the Financial Statements
for the Year Ended 31 May 2024

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 statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% on cost

Computer equipment

25% on cost

Motor vehicles

25% on reducing balance

Goodwill

The goodwill of £1 represents the amount paid when the company acquired the current business from Mr W G P Jones on 1 March 2000. In view of the nominal amount paid, no depreciation has been provided.

Investments

The unlisted investment consists of a holding of 1 ordinary share in Combined Independents (Holdings) Limited. This holding is shown at cost price and the note of the current value is as per the Accumulated Funds Statement issued by the company.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Debtors are stated at invoice value.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. They are stated at the value invoiced to the company.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received.

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.

 

Bulwark House Limited

Notes to the Financial Statements
for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 8).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

1

1

At 31 May 2024

1

1

Amortisation

Carrying amount

At 31 May 2024

1

1

At 31 May 2023

1

1

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

27,913

25,750

53,663

Additions

2,255

-

2,255

At 31 May 2024

30,168

25,750

55,918

Depreciation

At 1 June 2023

25,231

15,160

40,391

Charge for the year

993

2,647

3,640

At 31 May 2024

26,224

17,807

44,031

Carrying amount

At 31 May 2024

3,944

7,943

11,887

At 31 May 2023

2,682

10,590

13,272

 

Bulwark House Limited

Notes to the Financial Statements
for the Year Ended 31 May 2024

6

Investments

2024
£

2023
£

Investments in associates

2,640

2,640

The unlisted investment consists of a holding of 1 ordinary share in Combined Independent (Holdings) Limited. This holding has a value of £17,800 at 31 March 2021 according to the Accumulated Funds Statement issued by the company.

7

Debtors

2024
£

2023
£

Trade debtors

14,558

8,404

Prepayments

3,230

3,109

Other debtors

50

50

17,838

11,563

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

13,778

11,231

Taxation and social security

10,544

11,467

Other creditors

7,295

24,093

31,617

46,791

 

Bulwark House Limited

Notes to the Financial Statements
for the Year Ended 31 May 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

"A" of £1 each of £1 each

76,000

76,000

76,000

76,000

"B" of £1 each of £1 each

4,000

4,000

4,000

4,000

"C" of £1 each of £1 each

2,500

2,500

2,500

2,500

"D" of £1 each of £1 each

1,000

1,000

1,000

1,000

 

83,500

83,500

83,500

83,500