Registered number
02920234
Butler Valves and Fittings Limited
Report and Unaudited Accounts
30 April 2024
Collins
Chartered Accountants
West Midlands
Butler Valves and Fittings Limited
Registered number: 02920234
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 43,797 38,072
Current assets
Stocks 6,200 5,000
Debtors 4 1,427,809 332,523
Cash at bank and in hand 151,083 152,215
1,585,092 489,738
Creditors: amounts falling due within one year 5 (1,317,706) (210,069)
Net current assets 267,386 279,669
Net assets 311,183 317,741
Capital and reserves
Called up share capital 100 100
Profit and loss account 311,083 317,641
Shareholders' funds 311,183 317,741
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Butler
Director
Approved by the board on 10 March 2025
Butler Valves and Fittings Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods, this is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold impovements 10 years straight line
Plant and machinery 15% Reducing balance basis
Fixtures, fittings, tools and equipment 15% Reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price , less any impairment losses for bad and doubtful debts. Loans and other financial assets are also recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Fixtures and fittings Total
£ £ £ £
Cost
At 1 May 2023 12,989 12,216 63,220 88,425
Additions - - 11,548 11,548
At 30 April 2024 12,989 12,216 74,768 99,973
Depreciation
At 1 May 2023 12,989 4,644 32,720 50,353
Charge for the year - 1,136 4,687 5,823
At 30 April 2024 12,989 5,780 37,407 56,176
Net book value
At 30 April 2024 - 6,436 37,361 43,797
At 30 April 2023 - 7,572 30,500 38,072
4 Debtors 2024 2023
£ £
Trade debtors 1,114,859 195,005
Prepayments and accrued income 167,857 137,474
Corporation Tax Recoverable - 44
Other debtors 145,093 -
1,427,809 332,523
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 937,862 59,920
Amounts owed to group undertakings 217,810 95,732
Corporation tax 140,185 -
Other taxes and social security costs 3,610 29,855
Directors loans 151 912
Accruals and deferred income 18,088 23,650
1,317,706 210,069
6 Pension commitments
The company operates defined contribution pension schemes for the benefit of the director. The company also operates a defined contribution pension scheme for staff. The assets of the schemes are administered by trustees in a fund independent from those of the company
The total contributions paid in the year amounted to £112,106 (2023 £15,988).at the 30th April there was £nil (2021 £Nil) outstanding.
7 Related party transactions
During the year the company paid rent of £28,239 (2023 £29,622) to Richard Butler who owns the premises
8 Controlling party
The company is a wholly owned subsidiary of Butler Holdings Ltd, a company incorporated in England & Wales.
9 Other information
Butler Valves and Fittings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit D2 OYO Business Park
187 Park Lane, Castle Vale
Birmingham
West Midlands
B35 6AN
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