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Registration number: 05307394

Border Esk Fencing Limited

Unaudited Financial Statements

31 December 2024

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Border Esk Fencing Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Border Esk Fencing Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Border Esk Fencing Limited for the year ended 31 December 2024 as set out on pages 2 to 10 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 at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Border Esk Fencing Limited, as a body, in accordance with the terms of our engagement letter dated 8 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of Border Esk Fencing Limited and state those matters that we have agreed to state to the Board of Directors of Border Esk Fencing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Border Esk Fencing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Border Esk Fencing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Border Esk Fencing Limited. You consider that Border Esk Fencing 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 accounts of Border Esk Fencing 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 accounts.



Dodd & Co Limited
Chartered Accountants
Dodd & Co Limited
FIFTEEN Rosehill
Montgomery Way
CARLISLE
CA1 2RW

5 March 2025

 

Border Esk Fencing Limited

(Registration number: 05307394)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

200,286

205,389

Investment property

5

83,118

83,118

 

283,404

288,507

Current assets

 

Stocks

365,811

314,031

Debtors

6

185,916

184,607

Cash at bank and in hand

 

414,848

353,278

 

966,575

851,916

Creditors: Amounts falling due within one year

7

(428,045)

(337,951)

Net current assets

 

538,530

513,965

Total assets less current liabilities

 

821,934

802,472

Creditors: Amounts falling due after more than one year

7

(27,846)

(28,190)

Provisions for liabilities

(50,072)

(48,980)

Net assets

 

744,016

725,302

Capital and reserves

 

Allotted, called up and fully paid share capital

200

200

Profit and loss account

743,816

725,102

Total equity

 

744,016

725,302

 

Border Esk Fencing Limited

(Registration number: 05307394)
Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Board on 5 March 2025 and signed on its behalf by:
 

.........................................

N Dewhirst

Director

 

Border Esk Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Unit 9
Whitesyke Business Park
Longtown
CARLISLE
CA6 5WR

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments.

Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Tax

The tax expense for the period comprises current and deferred 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.

 

Border Esk Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

The current income 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 countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Leasehold improvements

over the remaining length of the lease

Plant and equipment

15% and 20% reducing balance basis

Motor vehicles

25% reducing balance basis

Furniture, fittings and office equipment

33% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuer uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Border Esk Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Border Esk Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

4

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 January 2024

79,130

651,565

51,900

1,774

784,369

Additions

-

57,000

-

-

57,000

Disposals

-

(45,000)

-

-

(45,000)

At 31 December 2024

79,130

663,565

51,900

1,774

796,369

Depreciation

At 1 January 2024

75,451

477,830

23,925

1,774

578,980

Charge for the year

3,679

34,841

6,994

-

45,514

Eliminated on disposal

-

(28,411)

-

-

(28,411)

At 31 December 2024

79,130

484,260

30,919

1,774

596,083

Carrying amount

At 31 December 2024

-

179,305

20,981

-

200,286

At 31 December 2023

3,679

173,735

27,975

-

205,389

 

Border Esk Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Investment properties

£

At 1 January 2024

83,118

At 31 December 2024

83,118

Investment properties have been valued at their original cost by the directors which, in their opinion, is a reasonable estimate of fair value.

There has been no valuation of investment properties by an independent valuer.

6

Debtors

2024
£

2023
£

Trade debtors

165,316

154,171

Other debtors

20,600

30,436

185,916

184,607

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

252,451

211,466

Trade creditors

 

108,087

69,062

Taxation and social security

 

12,466

4,959

Corporation tax liability

 

25,313

26,300

Other creditors

 

29,728

26,164

 

428,045

337,951

Due after one year

 

Loans and borrowings

8

27,846

28,190

2024
£

2023
£

After more than five years by instalments

18,658

21,107

18,658

21,107

 

Border Esk Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

1,568

1,731

Finance lease liabilities

15,000

13,381

Other borrowings

235,883

196,354

252,451

211,466

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Bank borrowings

1,568

1,731

Finance lease liabilities

15,000

13,381

16,568

15,112

Bank borrowings are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

26,596

28,190

Finance lease liabilities

1,250

-

27,846

28,190

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Bank borrowings

26,596

28,190

Finance lease liabilities

1,250

-

27,846

28,190

Bank borrowings are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.

 

Border Esk Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £15,000).