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COMPANY REGISTRATION NUMBER: 11670279
Breckland Garden Buildings Ltd
Unaudited financial statements
30 November 2024
Breckland Garden Buildings Ltd
Statement of financial position
30 November 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
78,390
102,156
Current assets
Stocks
89,415
150,904
Debtors
6
97,084
80,938
Cash at bank and in hand
45,969
66,644
---------
---------
232,468
298,486
Creditors: Amounts falling due within one year
7
( 162,361)
( 204,598)
---------
---------
Net current assets
70,107
93,888
---------
---------
Total assets less current liabilities
148,497
196,044
Creditors: Amounts falling due after more than one year
8
( 26,217)
( 58,491)
Provisions
Taxation including deferred tax
( 19,043)
( 19,049)
---------
---------
Net assets
103,237
118,504
---------
---------
Capital and reserves
Called up share capital
200
200
Profit and loss account
103,037
118,304
---------
---------
Shareholders funds
103,237
118,504
---------
---------
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 income statement has not been delivered.
For the year ending 30 November 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 .
Breckland Garden Buildings Ltd
Statement of financial position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 3 March 2025 , and are signed on behalf of the board by:
A M McManus
S Readman
Director
Director
Company registration number: 11670279
Breckland Garden Buildings Ltd
Notes to the financial statements
Year ended 30 November 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 Unit 5a, Hereward Way Business Park, Roudham Road, East Harling, Norfolk, NR16 2SR.
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 .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Hire purchase contracts
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of employees during the year was 9 (2023: 9 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2023
11,450
2,050
149,887
5,254
168,641
Additions
2,984
2,984
Disposals
( 1,800)
( 1,800)
-------
------
---------
------
---------
At 30 November 2024
14,434
2,050
148,087
5,254
169,825
-------
------
---------
------
---------
Depreciation
At 1 December 2023
4,929
519
58,716
2,321
66,485
Charge for the year
2,040
382
22,526
733
25,681
Disposals
( 731)
( 731)
-------
------
---------
------
---------
At 30 November 2024
6,969
901
80,511
3,054
91,435
-------
------
---------
------
---------
Carrying amount
At 30 November 2024
7,465
1,149
67,576
2,200
78,390
-------
------
---------
------
---------
At 30 November 2023
6,521
1,531
91,171
2,933
102,156
-------
------
---------
------
---------
6. Debtors
2024
2023
£
£
Other debtors
97,084
80,938
-------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
17,974
16,632
Trade creditors
20,570
36,986
Social security and other taxes
61,726
63,702
Other creditors
62,091
87,278
---------
---------
162,361
204,598
---------
---------
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,094
38,271
Other creditors
6,123
20,220
-------
-------
26,217
58,491
-------
-------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
15,000
15,000
Later than 1 year and not later than 5 years
28,750
1,250
-------
-------
43,750
16,250
-------
-------
10. Directors' advances, credits and guarantees
Included within debtors at the balance sheet date is an amount of £94,468 (2023: £78,302) which is owed to the company by the directors. The maximum overdrawn balance during the year was £94,468 (2023: £88,797). Interest of £1,922 (2023: £1,258) was charged on the loan at the official rate.