REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
BRONZE MECHANICAL HANDLING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
BRONZE MECHANICAL HANDLING LIMITED |
BRONZE MECHANICAL HANDLING LIMITED (REGISTERED NUMBER: 02545007) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
BRONZE MECHANICAL HANDLING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Rutland House |
90-92 Baxter Avenue |
Southend on Sea |
Essex |
SS2 6HZ |
BRONZE MECHANICAL HANDLING LIMITED (REGISTERED NUMBER: 02545007) |
ABRIDGED BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Capital redemption reserve |
Undistributable reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BRONZE MECHANICAL HANDLING LIMITED (REGISTERED NUMBER: 02545007) |
ABRIDGED BALANCE SHEET - continued |
30 JUNE 2024 |
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 |
BRONZE MECHANICAL HANDLING LIMITED (REGISTERED NUMBER: 02545007) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Bronze Mechanical Handling Limited is a |
The place of business is different to the registered office address. The place of business is The Fork Truck Centre, Motherwell Way, West Thurrock, Essex, RM20 3XD, United Kingdom. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Bronze Mechanical Handling Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity: and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Income from the sale of stock is recognised when the customer takes delivery of the items ordered, or otherwise accepts the primary risks and rewards of ownership. Income from the hire of trucks or the provision of other services is recognised in the period to which it relates. |
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. |
Goodwill - 33% straight line |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
BRONZE MECHANICAL HANDLING LIMITED (REGISTERED NUMBER: 02545007) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 30 June 2024 |
AMORTISATION |
Amortisation for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
Having acquired 100% ownership of Britannia Materials Handling Limited, the company hived the subsidiary's activities up to itself. Consequently, the £1.06m original cost of investment it had for acquiring a controlling interest, came to effectively represent the purchase of the trading assets of the subsidiary. This cost, less the debts the company owed to the subsidiary which were cancelled on upon restructuring, have therefore been included as the company's intangible investment in the underlying trade. |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
BRONZE MECHANICAL HANDLING LIMITED (REGISTERED NUMBER: 02545007) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 July 2023 | 1,060,444 |
Disposals | (1,060,444 | ) |
At 30 June 2024 | - |
NET BOOK VALUE |
At 30 June 2024 | - |
At 30 June 2023 | 1,060,444 |
During the period the company acquired all of the assets and activites of its subsidiary, Britannia Materials Handling Limited - please see note 5 above. |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 34,138 | - |
Hire purchase balances are secured against the asset to which they relate. |
BRONZE MECHANICAL HANDLING LIMITED (REGISTERED NUMBER: 02545007) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
"A Ordinary" | £1 | 95 | 95 |
"B Ordinary" | £1 | 1 | 5 |
96 | 100 |
During the year, the company repurchased 5 B shares for a total of £110,000, incurring £4,989 of stamp duty and associated costs in the process. This repurchase completed in three tranches, the last of which was due by 20 December 2024 - as the company was contractually committed to making this third £25,000 instalment it has been recognised at the balance sheet date with the outstanding amount included within creditors. |
11. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme in respect of certain employees. During the year premiums paid by the company amounted to £31,460 (2023 - £29,030). At the balance sheet date there were amounts outstanding of £6,227 (2023 - £387). |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BRONZE MECHANICAL HANDLING LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bronze Mechanical Handling Limited for the year ended 30 June 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Bronze Mechanical Handling Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bronze Mechanical Handling Limited and state those matters that we have agreed to state to the Board of Directors of Bronze Mechanical Handling Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bronze Mechanical Handling Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Bronze Mechanical Handling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bronze Mechanical Handling Limited. You consider that Bronze Mechanical Handling Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Bronze Mechanical Handling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Rutland House |
90-92 Baxter Avenue |
Southend on Sea |
Essex |
SS2 6HZ |