7 false false true false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 21,522 21,522 21,522 10,942 1,883 9,059 9,059 10,942 xbrli:pure xbrli:shares iso4217:GBP 04666763 2023-06-01 2024-05-31 04666763 2024-05-31 04666763 2023-05-31 04666763 2022-06-01 2023-05-31 04666763 2023-05-31 04666763 2022-05-31 04666763 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04666763 core:LandBuildings core:LongLeaseholdAssets 2023-06-01 2024-05-31 04666763 core:FurnitureFittings 2023-06-01 2024-05-31 04666763 core:MotorVehicles 2023-06-01 2024-05-31 04666763 bus:Director1 2023-06-01 2024-05-31 04666763 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 04666763 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 04666763 core:FurnitureFittings 2023-05-31 04666763 core:MotorVehicles 2023-05-31 04666763 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 04666763 core:LandBuildings core:LongLeaseholdAssets 2024-05-31 04666763 core:FurnitureFittings 2024-05-31 04666763 core:MotorVehicles 2024-05-31 04666763 core:WithinOneYear 2024-05-31 04666763 core:WithinOneYear 2023-05-31 04666763 core:AfterOneYear 2024-05-31 04666763 core:AfterOneYear 2023-05-31 04666763 core:ShareCapital 2024-05-31 04666763 core:ShareCapital 2023-05-31 04666763 core:RetainedEarningsAccumulatedLosses 2024-05-31 04666763 core:RetainedEarningsAccumulatedLosses 2023-05-31 04666763 core:NetGoodwill 2024-05-31 04666763 core:NetGoodwill 2023-05-31 04666763 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 04666763 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-05-31 04666763 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 04666763 core:Non-currentFinancialInstruments 2024-05-31 04666763 core:Non-currentFinancialInstruments 2023-05-31 04666763 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 04666763 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 04666763 core:FurnitureFittings 2023-05-31 04666763 core:MotorVehicles 2023-05-31 04666763 bus:SmallEntities 2023-06-01 2024-05-31 04666763 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04666763 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04666763 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04666763 bus:FullAccounts 2023-06-01 2024-05-31 04666763 core:ToolsEquipment 2023-06-01 2024-05-31 04666763 core:ToolsEquipment 2023-05-31 04666763 core:ToolsEquipment 2024-05-31
COMPANY REGISTRATION NUMBER: 04666763
B D BRAITHWAITE LTD
Filleted Unaudited Financial Statements
31 May 2024
B D BRAITHWAITE LTD
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
21,522
21,522
Tangible assets
6
1,163,142
1,199,521
Investments
7
9,059
10,942
------------
------------
1,193,723
1,231,985
Current assets
Debtors
8
176,822
173,259
Cash at bank and in hand
248,188
324,507
---------
---------
425,010
497,766
Creditors: amounts falling due within one year
9
150,534
149,495
---------
---------
Net current assets
274,476
348,271
------------
------------
Total assets less current liabilities
1,468,199
1,580,256
Creditors: amounts falling due after more than one year
10
84,887
313,383
------------
------------
Net assets
1,383,312
1,266,873
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,383,212
1,266,773
------------
------------
Shareholders funds
1,383,312
1,266,873
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
B D BRAITHWAITE LTD
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
Mr B D Braithwaite
Director
Company registration number: 04666763
B D BRAITHWAITE LTD
Notes to the Financial Statements
Year ended 31st May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 174 Station Road, Cropston, LEICS, LE7 7HF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Long leasehold property
-
2% straight line
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Tools & equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 6 ).
5. Intangible assets
Goodwill
£
Cost
At 1st June 2023 and 31st May 2024
21,522
--------
Amortisation
At 1st June 2023 and 31st May 2024
--------
Carrying amount
At 31st May 2024
21,522
--------
At 31st May 2023
21,522
--------
6. Tangible assets
Freehold property
Long leasehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jun 2023
140,213
1,212,601
34,355
77,444
44,343
1,508,956
Additions
1,232
1,232
---------
------------
--------
--------
--------
------------
At 31 May 2024
140,213
1,212,601
34,355
77,444
45,575
1,510,188
---------
------------
--------
--------
--------
------------
Depreciation
At 1 Jun 2023
19,635
178,482
25,985
50,574
34,759
309,435
Charge for the year
2,805
24,252
1,674
6,717
2,163
37,611
---------
------------
--------
--------
--------
------------
At 31 May 2024
22,440
202,734
27,659
57,291
36,922
347,046
---------
------------
--------
--------
--------
------------
Carrying amount
At 31 May 2024
117,773
1,009,867
6,696
20,153
8,653
1,163,142
---------
------------
--------
--------
--------
------------
At 31 May 2023
120,578
1,034,119
8,370
26,870
9,584
1,199,521
---------
------------
--------
--------
--------
------------
7. Investments
Other investments other than loans
£
Cost
At 1st June 2023
10,942
Disposals
( 1,883)
--------
At 31st May 2024
9,059
--------
Impairment
At 1st June 2023 and 31st May 2024
--------
Carrying amount
At 31st May 2024
9,059
--------
At 31st May 2023
10,942
--------
Included in Investments are the following:
Veincare Limited is a dormant unquoted private company owned by the Directors and their family. B D Braithwaite Limited owns 30.06% of the issued share capital.
Vascular Ultrasound Limited is an unquoted private company. B D Braithwaite Limited owns 30% of the issued share capital.
8. Debtors
2024
2023
£
£
Trade debtors
130,578
128,845
Other debtors
46,244
44,414
---------
---------
176,822
173,259
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,764
46,404
Trade creditors
24,912
28,388
Corporation tax
39,411
49,445
Social security and other taxes
15,093
5,999
Other creditors - revolut account
272
Other creditors
54,082
19,259
---------
---------
150,534
149,495
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
84,887
313,383
--------
---------
11. Related party transactions
During the year the Directors used a current account to record amounts due to them and drawn by them. The balance at the end of the year was £47,510 due by the company. (2023: £13,119).