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BEDALE SKIP HIRE LIMITED

Registered Number
08564373
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

BEDALE SKIP HIRE LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

FARROW, Benjamin James
FARROW, Bernard
FARROW, Eleanor Kate

Registered Address

Knabs Quarry
Masham Road
Bedale
DL8 2SD

Registered Number

08564373 (England and Wales)
BEDALE SKIP HIRE LIMITED
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,1522,601
Tangible assets41,038,772947,958
1,040,924950,559
Current assets
Debtors5190,387184,407
Cash at bank and on hand315,224438,447
505,611622,854
Creditors amounts falling due within one year6(227,489)(260,489)
Net current assets (liabilities)278,122362,365
Total assets less current liabilities1,319,0461,312,924
Creditors amounts falling due after one year7(154,116)(224,901)
Provisions for liabilities8(197,000)(134,825)
Net assets967,930953,198
Capital and reserves
Called up share capital1010
Profit and loss account967,920953,188
Shareholders' funds967,930953,198
The financial statements were approved and authorised for issue by the Board of Directors on 21 February 2025, and are signed on its behalf by:
FARROW, Benjamin James
Director
FARROW, Bernard
Director
FARROW, Eleanor Kate
Director

Registered Company No. 08564373
BEDALE SKIP HIRE LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life has been set at 7 years and the asset will be amortised on a straight line basis over that period.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation has been provided as 10% for Leasehold property and 2% for Freehold property. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings10
Plant and machinery15
Fixtures and fittings15
Vehicles15
Office Equipment15
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year1111
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 July 233,1263,126
At 30 June 243,1263,126
Amortisation and impairment
At 01 July 23525525
Charge for year449449
At 30 June 24974974
Net book value
At 30 June 242,1522,152
At 30 June 232,6012,601
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 July 23274,014419,421570,4328,3413,8761,276,084
Additions-136,216106,6606,150763249,789
Disposals-(8,200)(44,178)--(52,378)
At 30 June 24274,014547,437632,91414,4914,6391,473,495
Depreciation and impairment
At 01 July 2313,583181,436129,5082,4101,189328,126
Charge for year6,09848,72866,3881,428412123,054
On disposals-(1,405)(15,052)--(16,457)
At 30 June 2419,681228,759180,8443,8381,601434,723
Net book value
At 30 June 24254,333318,678452,07010,6533,0381,038,772
At 30 June 23260,431237,985440,9245,9312,687947,958
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables115,692120,546
Other debtors70,61955,113
Prepayments and accrued income4,0768,748
Total190,387184,407
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables34,55128,279
Bank borrowings and overdrafts9,96910,000
Amounts owed to related parties6741,877
Taxation and social security83,327110,246
Finance lease and HP contracts91,73195,808
Other creditors5137,480
Accrued liabilities and deferred income6,7246,799
Total227,489260,489
Hire Purchase creditors are secured by the asset to which they relate.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,36323,333
Other creditors140,753201,568
Total154,116224,901
Finance lease and Hire Purchase contracts amounting to £140,753 (2023 - £201,568) are included within other creditors. Hire Purchase creditors are secured by the asset to which they relate.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)197,000134,825
Total197,000134,825
9.Directors advances, credits and guarantees
On 1 July 2023 a Director owed the Company £40,975. During the period this director was advanced a further £57,239 and repaid £52,450. As at 30 June 2024 this Director owed the Company £45,764. Interest was charged at the HMRC official rate. The loan is unsecured and repayable upon demand. During the period a second director was advanced £7,035. No interest was charged on this loan. The loan is unsecured and repayable upon demand.