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Registration number: 05148661

Brecon Engineering Supplies Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Brecon Engineering Supplies Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Brecon Engineering Supplies Limited

Company Information

Director

Mr M S Amber

Company secretary

Mr P M Francis

Registered office

32 Ffrwdgrech Industrial Estate
Brecon
Powys
LD3 8LA

Bankers

Barclays Bank plc
Abergavenny Business Centre
South East Wales Group
PO Box No.29
Monmouth
Gwent
NP5 3YG

Accountants

W J James & Co
Chartered AccountantsBishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Brecon Engineering Supplies Limited

(Registration number: 05148661)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

40,028

49,267

Current assets

 

Debtors

5

14,532

22,754

Cash at bank and in hand

 

14,890

6,895

 

29,422

29,649

Creditors: Amounts falling due within one year

6

(4,005)

(13,518)

Net current assets

 

25,417

16,131

Net assets

 

65,445

65,398

Capital and reserves

 

Called up share capital

7

3

3

Retained earnings

65,442

65,395

Shareholders' funds

 

65,445

65,398

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 March 2025
 

.........................................
Mr M S Amber
Director

 

Brecon Engineering Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
32 Ffrwdgrech Industrial Estate
Brecon
Powys
LD3 8LA

These financial statements were authorised for issue by the director on 12 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presenrted in sterling, which is the functional currency of the company, and rounded to the nearest £1.

Revenue recognition

Turnover represents the net invoiced value of equipment leased to customers, and is recognised in accordance with the terms of the lease.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the UK, which is where the company operates.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

10% per annum straight line

 

Brecon Engineering Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are stated at the invoice value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are stated at the invoice value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received or receivable.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Brecon Engineering Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

91,458

91,458

At 30 June 2024

91,458

91,458

Depreciation

At 1 July 2023

42,191

42,191

Charge for the year

9,239

9,239

At 30 June 2024

51,430

51,430

Carrying amount

At 30 June 2024

40,028

40,028

At 30 June 2023

49,267

49,267

5

Debtors

Current

2024
£

2023
£

Trade debtors

13,705

21,927

Other debtors

827

827

 

14,532

22,754

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

8,143

Taxation and social security

 

1,915

3,285

Accruals and deferred income

 

1,204

1,204

Other creditors

 

886

886

 

4,005

13,518

 

Brecon Engineering Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each of £1 each

3

3

3

3

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

8,143