BERRYRANGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
Company Registration Number: 02618470
BERRYRANGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
BERRYRANGE LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024
DIRECTORS
J R Banham
M Lynas
SECRETARY
M Banham
REGISTERED OFFICE
Unit 7
The Oaks Business Village
Revenge Road
Lordswood, Medway
Kent
ME5 8LF
COMPANY REGISTRATION NUMBER
02618470 England and Wales
BERRYRANGE LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 5 121,545 115,635
CURRENT ASSETS
Stock 334,836 757,729
Debtors 6 2,282,577 2,098,212
Cash at bank and in hand 1,625,093 550,917
4,242,506 3,406,858
CREDITORS: Amounts falling due within one year 7 1,959,327 1,261,864
NET CURRENT ASSETS 2,283,179 2,144,994
TOTAL ASSETS LESS CURRENT LIABILITIES 2,404,724 2,260,629
Provisions for liabilities and charges 28,430 26,522
NET ASSETS 2,376,294 2,234,107
CAPITAL AND RESERVES
Called up share capital 1 1
Distributable profit and loss account 2,376,292 2,234,105
Other reserve 1 1
SHAREHOLDER'S FUNDS 2,376,294 2,234,107
BERRYRANGE LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
J R Banham M Lynas
Director Director
Date approved by the board: 13 March 2025
BERRYRANGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
1 GENERAL INFORMATION
Berryrange Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Unit 7
The Oaks Business Village
Revenge Road
Lordswood, Medway
Kent
ME5 8LF
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover represents the invoiced value of steel structures provided and installed, stated net of trade discounts and value added tax. Revenue is recognised as contract activity progresses, in accordance with the terms of the contractual agreement and the stage of completion of the work. Revenue is reported in the period in which the services were rendered and reflects the partial performance of the company's contractual obligations where this can be measured reliably. Where recorded revenue exceeds amounts invoiced to clients, the excess is classified as income.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Furniture and fittings 25% reducing balance
Motor vehicles 25% reducing balance
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
BERRYRANGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
BERRYRANGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises materials, direct labour and an appropriate proportion of production overheads relevant to the stage of construction.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Payments received under operating leases are recognised as income over the lease term on a straight-line basis.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
BERRYRANGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 26 29
5 TANGIBLE ASSETS
Plant and machinery Furniture and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 244,860 82,085 55,205 382,150
Additions 18,369 2,396 23,309 44,074
Disposals (49,135) - (25,485) (74,620)
At 30 June 2024 214,094 84,481 53,029 351,604
Accumulated depreciation and impairments
At 1 July 2023 178,758 47,172 40,585 266,515
Charge for year 17,541 9,018 6,000 32,559
Disposals (44,916) - (24,099) (69,015)
At 30 June 2024 151,383 56,190 22,486 230,059
Net book value
At 1 July 2023 66,102 34,913 14,620 115,635
At 30 June 2024 62,711 28,291 30,543 121,545
BERRYRANGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
6 DEBTORS
2024 2023
£ £
Trade debtors 740,860 533,409
Prepayments and accrued income 638,940 630,272
Other debtors 902,777 934,531
2,282,577 2,098,212
7 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Trade creditors 875,436 708,522
Taxation and social security 177,061 118,868
Accruals and deferred income 189,445 89,841
Other creditors 717,385 344,633
1,959,327 1,261,864
8 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2024 2023
£ £
In less than one year 63,621 62,512
In more than one but less than five years 105,101 105,128
168,722 167,640
9 DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The following directors' advances, credits and guarantees took place during the year:
Balance at 1 July 2023 Amounts advanced Amounts repaid Amounts written off or waived Balance at 30 June 2024
£ £ £ £ £
T Oram 442,417 23,322 - - 465,739
J R Banham 13,447 60,698 74,145 - -
M Lynas 16,731 2,828 7,651 - 11,908
472,595 86,848 81,796 - 477,647
Interest has been charged on these advances at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. These advances are repayable on demand.
BERRYRANGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
10 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Sheet Piling Solutions Ltd - Parent company
During the year, the following transactions with related parties took place:
J R Banham
Director 2024 2023
£ £
The following balance is owed to the director by the company: 727 -
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