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Registration number: 06506507

Buckler Spencer Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Buckler Spencer Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Buckler Spencer Limited

Company Information

Directors

JM Buckler

RJ Spencer

TJ Spencer

D C Bezant

Company secretary

A J Spencer

Registered office

The Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

Accountants

Buckler Spencer Limited
Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

 

Buckler Spencer Limited

(Registration number: 06506507)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

248,978

279,543

Tangible assets

5

5,930

7,942

 

254,908

287,485

Current assets

 

Stocks

6

218,529

173,171

Debtors

7

249,215

234,970

Cash at bank and in hand

 

194,878

226,217

 

662,622

634,358

Creditors: Amounts falling due within one year

8

(629,777)

(627,306)

Net current assets

 

32,845

7,052

Total assets less current liabilities

 

287,753

294,537

Creditors: Amounts falling due after more than one year

8

(26,851)

(32,423)

Net assets

 

260,902

262,114

Capital and reserves

 

Called up share capital

9

250,101

250,101

Retained earnings

10,801

12,013

Shareholders' funds

 

260,902

262,114

For the financial year ending 31 July 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 11 April 2025 and signed on its behalf by:
 

 

Buckler Spencer Limited

(Registration number: 06506507)
Balance Sheet as at 31 July 2024

.........................................
RJ Spencer
Director

 

Buckler Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
The Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

The principal place of business is:
The Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

These financial statements were authorised for issue by the Board on 11 April 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 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 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.

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.

 

Buckler Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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

Furniture, fittings and equipment

at varying rates on cost

Other property, plant and equipment

at varying rates on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over the calculated useful economic life of the goodwill

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised iat the transaction price. 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.

 

Buckler Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Trade creditors

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

Borrowings

Interest-bearing borrowings are recorded at fair value, net of transaction costs.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 17 (2023 - 16).

 

Buckler Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

633,365

633,365

At 31 July 2024

633,365

633,365

Amortisation

At 1 August 2023

353,822

353,822

Amortisation charge

30,565

30,565

At 31 July 2024

384,387

384,387

Carrying amount

At 31 July 2024

248,978

248,978

At 31 July 2023

279,543

279,543

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

14,061

3,252

17,313

At 31 July 2024

14,061

3,252

17,313

Depreciation

At 1 August 2023

7,490

1,881

9,371

Charge for the year

1,669

343

2,012

At 31 July 2024

9,159

2,224

11,383

Carrying amount

At 31 July 2024

4,902

1,028

5,930

At 31 July 2023

6,571

1,371

7,942

6

Stocks

2024
£

2023
£

Work in progress

218,529

173,171

 

Buckler Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

226,357

213,987

Prepayments

10,871

9,971

Other debtors

11,987

11,012

 

249,215

234,970

 

Buckler Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

255,555

255,555

Trade creditors

 

10,384

7,983

Taxation and social security

 

114,144

98,398

Other creditors

 

249,694

265,370

 

629,777

627,306

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

26,851

32,423

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

30

30

30

30

B Ordinary of £1 each

30

30

30

30

C Ordinary of £1 each

30

30

30

30

D Ordinary of £1 each

3

3

3

3

E Ordinary of £1 each

3

3

3

3

F Ordinary of £1 each

3

3

3

3

Preference of £1 each

500,000

500,000

500,000

500,000

G Ordinary of £1 each

2

2

2

2

500,101

500,101

500,101

500,101

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

26,851

32,423

 

Buckler Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,555

5,555

Redeemable preference shares

250,000

250,000

255,555

255,555

11

Dividends

Any dividends declared in the period are disclosed in the Statement of Income and Retained Earnings.