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REGISTERED NUMBER: 04873674 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

BW and DJ Glaves & Sons Limited

BW and DJ Glaves & Sons Limited (Registered number: 04873674)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BW and DJ Glaves & Sons Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr J W Glaves
Mrs D J Glaves
Mr B W Glaves
Mr A E Glaves





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 04873674 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

BW and DJ Glaves & Sons Limited (Registered number: 04873674)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 217,100 242,133
217,100 242,133

CURRENT ASSETS
Stocks 90,727 86,024
Debtors 6 64,257 75,082
Investments 7 9,058 8,792
Cash at bank and in hand 94,785 80,586
258,827 250,484
CREDITORS
Amounts falling due within one year 8 171,474 190,256
NET CURRENT ASSETS 87,353 60,228
TOTAL ASSETS LESS CURRENT
LIABILITIES

304,453

302,361

CREDITORS
Amounts falling due after more than one
year

9

(158,334

)

(168,333

)

PROVISIONS FOR LIABILITIES (36,623 ) (29,183 )
NET ASSETS 109,496 104,845

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 109,396 104,745
SHAREHOLDERS' FUNDS 109,496 104,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

BW and DJ Glaves & Sons Limited (Registered number: 04873674)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:




Mr B W Glaves - Director Mrs D J Glaves - Director




Mr A E Glaves - Director Mr J W Glaves - Director


BW and DJ Glaves & Sons Limited (Registered number: 04873674)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

BW and DJ Glaves & Sons 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2003, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and 10% 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 Income Statement, 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.

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.

BW and DJ Glaves & Sons Limited (Registered number: 04873674)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 120,000
AMORTISATION
At 1 October 2023
and 30 September 2024 120,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

BW and DJ Glaves & Sons Limited (Registered number: 04873674)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 940,728
Additions 80,581
Disposals (54,159 )
At 30 September 2024 967,150
DEPRECIATION
At 1 October 2023 698,595
Charge for year 64,983
Eliminated on disposal (13,528 )
At 30 September 2024 750,050
NET BOOK VALUE
At 30 September 2024 217,100
At 30 September 2023 242,133

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 23,461 32,321
Other debtors 40,796 42,761
64,257 75,082

7. CURRENT ASSET INVESTMENTS
30.9.24 30.9.23
£    £   
Unlisted investments 9,058 8,792

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 73,325 63,102
Taxation and social security 50,059 50,501
Other creditors 38,090 66,653
171,474 190,256

BW and DJ Glaves & Sons Limited (Registered number: 04873674)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 8,334 18,333
Other creditors 150,000 150,000
158,334 168,333

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 150,000 150,000

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 18,334 28,333

Bank borrowings are secured on the assets of the company via fixed and floating charges by a debenture dated 22 October 2003.

The directors, Mr A E Glaves and Mr J W Glaves, have also given personal guarantees to the bank in respect of company bank borrowings.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
Mr B W Glaves and Mrs D J Glaves
Balance outstanding at start of year 9,028 19,416
Amounts advanced 47,590 44,825
Amounts repaid (38,704 ) (55,213 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,914 9,028

Mr J W Glaves
Balance outstanding at start of year - -
Amounts advanced 1,193 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,193 -

BW and DJ Glaves & Sons Limited (Registered number: 04873674)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr A E Glaves
Balance outstanding at start of year - -
Amounts advanced 1,193 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,193 -

The above loans are provided interest-free and are repayable on demand.