Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31falsetrueBuilding Refurbishment2023-08-01false2423false 01548523 2023-08-01 2024-07-31 01548523 2022-08-01 2023-07-31 01548523 2024-07-31 01548523 2023-07-31 01548523 2022-08-01 01548523 1 2023-08-01 2024-07-31 01548523 d:CompanySecretary1 2023-08-01 2024-07-31 01548523 d:Director1 2023-08-01 2024-07-31 01548523 d:Director2 2023-08-01 2024-07-31 01548523 d:Director3 2023-08-01 2024-07-31 01548523 d:RegisteredOffice 2023-08-01 2024-07-31 01548523 c:PlantMachinery 2023-08-01 2024-07-31 01548523 c:PlantMachinery 2024-07-31 01548523 c:PlantMachinery 2023-07-31 01548523 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01548523 c:MotorVehicles 2023-08-01 2024-07-31 01548523 c:MotorVehicles 2024-07-31 01548523 c:MotorVehicles 2023-07-31 01548523 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01548523 c:FurnitureFittings 2023-08-01 2024-07-31 01548523 c:FurnitureFittings 2024-07-31 01548523 c:FurnitureFittings 2023-07-31 01548523 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01548523 c:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01548523 c:CurrentFinancialInstruments 2024-07-31 01548523 c:CurrentFinancialInstruments 2023-07-31 01548523 c:Non-currentFinancialInstruments 2024-07-31 01548523 c:Non-currentFinancialInstruments 2023-07-31 01548523 c:CurrentFinancialInstruments c:WithinOneYear 2024-07-31 01548523 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 01548523 c:Non-currentFinancialInstruments c:AfterOneYear 2024-07-31 01548523 c:Non-currentFinancialInstruments c:AfterOneYear 2023-07-31 01548523 c:ShareCapital 2024-07-31 01548523 c:ShareCapital 2023-07-31 01548523 c:ShareCapital 2022-08-01 01548523 c:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 01548523 c:RetainedEarningsAccumulatedLosses 2024-07-31 01548523 c:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 01548523 c:RetainedEarningsAccumulatedLosses 2023-07-31 01548523 c:RetainedEarningsAccumulatedLosses 2022-08-01 01548523 c:AcceleratedTaxDepreciationDeferredTax 2024-07-31 01548523 c:AcceleratedTaxDepreciationDeferredTax 2023-07-31 01548523 d:OrdinaryShareClass1 2023-08-01 2024-07-31 01548523 d:OrdinaryShareClass1 2024-07-31 01548523 d:OrdinaryShareClass1 2023-07-31 01548523 d:FRS102 2023-08-01 2024-07-31 01548523 d:Audited 2023-08-01 2024-07-31 01548523 d:FullAccounts 2023-08-01 2024-07-31 01548523 d:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 01548523 d:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 01548523 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2024-07-31 01548523 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-07-31 01548523 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01548523









B. PRICE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
B. PRICE LIMITED
 
 
COMPANY INFORMATION


Directors
M Price 
E Price 
S A Prince 




Company secretary
E Price



Registered number
01548523



Registered office
Unit 3
Bordesley Hall Farm Barns

Storrage Lane

Alvechurch

Birmingham

B48 7ES




Independent auditors
PKF Smith Cooper Audit Limited
Statutory Auditors

Cornerblock

2 Cornwall Street

Birmingham

West Midlands

B3 2DX





 
B. PRICE LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 11


 
B. PRICE LIMITED
REGISTERED NUMBER: 01548523

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets

 4 

189,673
231,268

Current assets
  

Stocks
 5 
80,807
559

Debtors: amounts falling due within one year
 6 
2,295,959
1,566,038

Cash at bank and in hand
 7 
64,319
220,286

  
2,441,085
1,786,883

Creditors: amounts falling due within one year
 8 
(2,270,333)
(1,740,652)

Net current assets
  
 
 
170,752
 
 
46,231

Total assets less current liabilities
  
360,425
277,499

Creditors: amounts falling due after more than one year
 9 
(165,996)
(91,697)

Provisions for liabilities
  

Deferred tax
 10 
(41,939)
(48,956)

  
 
 
(41,939)
 
 
(48,956)

Net assets
  
152,490
136,846


Capital and reserves
  

Called up share capital 
 11 
133
133

Profit and loss account
 12 
152,357
136,713

  
152,490
136,846

Page 1

 
B. PRICE LIMITED
REGISTERED NUMBER: 01548523
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 April 2025.




M Price
Director

The notes on pages 4 to 11 form part of these financial statements.
Page 2

 
B. PRICE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
133
391,046
391,179



Profit for the year
-
15,667
15,667

Dividends
-
(270,000)
(270,000)



At 1 August 2023
133
136,713
136,846



Profit for the year
-
15,644
15,644


At 31 July 2024
133
152,357
152,490


The notes on pages 4 to 11 form part of these financial statements.
Page 3

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

B Price Limited is a private limited company, limited by shares and incorporated in England. The registered office is Unit 3, Bordesley Hall Farm Barns, Storrage Lane, Alvechurch, Birmingham, B48 7ES. The company's registration number is 01548523. The nature of the company's operations and principal activities continued to be that of building refurbishment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Sterling which is the functional currency of the company and are rounded to the nearest pound (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed the Company's future trading expectations which shows that the Company expect to operate within the level of its working capital. Furthermore, the directors have assured that there is support available to bridge short term funding requirements if required. 
The directors therefore have a reasonable expectation that they have adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the annual report and financial statements. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to Statement of Comprehensive Income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to Statement of Comprehensive Income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Finance costs

Finance costs are charged to Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in Statement of Comprehensive Income in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25% on cost
Motor vehicles
-
20% on cost
Fixtures and fittings
-
25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Page 6

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are valued at the lower of cost and net realisable value. Work in progress, which relates entirely to contracts where no work has yet been invoiced to clients, is valued at cost. Provision is made for any losses expected to arise on completion of such contracts.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

  
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2023 - 23).

Page 7

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost 


At 1 August 2023
20,865
374,742
40,975
436,582


Additions
2,589
38,110
4,046
44,745


Disposals
(1,773)
(28,283)
(2,620)
(32,676)



At 31 July 2024

21,681
384,569
42,401
448,651



Depreciation


At 1 August 2023
7,224
166,939
31,151
205,314


Charge for the year
5,187
67,655
4,292
77,134


Disposals
(731)
(20,118)
(2,621)
(23,470)



At 31 July 2024

11,680
214,476
32,822
258,978



Net book value



At 31 July 2024
10,001
170,093
9,579
189,673



At 31 July 2023
13,641
207,803
9,824
231,268

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
134,590
152,302

Page 8

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Stocks

2024
2023
£
£

Work in progress
80,807
559



6.


Debtors

2024
2023
£
£


Trade debtors
949,525
522,132

Amounts owed by group undertakings
211,538
211,538

Prepayments and accrued income
81,478
92,136

Amounts recoverable on long term contracts
1,053,418
740,232

2,295,959
1,566,038



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
64,319
220,286



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
10,165
-

Payments received on account
52,910
105,988

Trade creditors
1,547,611
830,311

Corporation tax
19,715
15,000

Other taxation and social security
352,741
351,449

Obligations under finance lease and hire purchase contracts
62,247
57,290

Other creditors
107,993
137,757

Accruals and deferred income
116,951
242,857

2,270,333
1,740,652


The amounts due on hire purchase contracts are secured on the assets concerned.

Page 9

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
92,752
-

Net obligations under finance leases and hire purchase contracts
73,244
91,697


The amounts due on hire purchase contracts are secured on the assets concerned.


10.


Deferred taxation




2024


£






At beginning of year
(48,956)


Credited to Statement of comprehensive income
7,017



At end of year
(41,939)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(41,939)
(48,956)

(41,939)
(48,956)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



133 (2023 - 133) ordinary shares of £1.00 each
133
133



12.


Reserves

Profit and loss account

This reserve records all current and prior period retained profits and losses.
Page 10

 
B. PRICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £80,788 (2023 - £28,853). There were outstanding commitments at the year end of £4,760 (2023 - £4,791).


14.


Related party transactions

Mr M Price and Mrs E Price have given a personal guarantee to the company's bankers in the amount of £250,000.
During the year, the company invoiced sales of £nil (2023 - £362,930) to a director. At the balance sheet date the director owed the company £nil (2023 - £nil).
During the year, the company invoiced sales of £607,500 (2023 - £nil) to a company in which two of the directors have a participating interest. As at the balance sheet date, the related party owed the company £nil (2023 - £nil).
During the year, the company invoiced sales of £51,566 (2023 - £21,168) to the private pension fund of M Price and E Price. As at 31 July 2024, the private pension fund owed the company £nil (2023 - £nil).
During the year, the company made loans to and from a director. As at 31 July 2024, the director was owed £85,000 (2023 - £116,000) by the company. These loans were unsecured, interest free and there were no repayment terms. 
The company has taken advantage of the exemption under the terms of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland',  not to disclose transactions entered into between two members of a group provided that any subsidiary which is a party to the transaction is wholly owned.


15.


Post balance sheet events

There has been interim dividends of £70,000 paid since the balance sheet date.


16.


Controlling party

The company is 100% owned by B Price Holdings Limited. The parent company's registered address is Unit 3, Bordesley Hall Farm Barns, Storrage Lane, Alvechurch, Birmingham, B48 7ES.


17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 25 April 2025 by Stephen Newman (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.

 
Page 11