BWL Sales Limited 05457538 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Sale of other mortor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 05457538 2023-08-01 2024-07-31 05457538 2024-07-31 05457538 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 05457538 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-07-31 05457538 core:CurrentFinancialInstruments 2024-07-31 05457538 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 05457538 core:Non-currentFinancialInstruments 2024-07-31 05457538 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 05457538 core:BetweenTwoFiveYears 2024-07-31 05457538 core:MoreThanFiveYears 2024-07-31 05457538 core:WithinOneYear 2024-07-31 05457538 core:FurnitureFittings 2024-07-31 05457538 core:LandBuildings core:LongLeaseholdAssets 2024-07-31 05457538 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-31 05457538 core:MotorVehicles 2024-07-31 05457538 core:OfficeEquipment 2024-07-31 05457538 bus:SmallEntities 2023-08-01 2024-07-31 05457538 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 05457538 bus:FilletedAccounts 2023-08-01 2024-07-31 05457538 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05457538 bus:RegisteredOffice 2023-08-01 2024-07-31 05457538 bus:Director3 2023-08-01 2024-07-31 05457538 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05457538 core:FurnitureFittings 2023-08-01 2024-07-31 05457538 core:LandBuildings core:LongLeaseholdAssets 2023-08-01 2024-07-31 05457538 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 05457538 core:MotorVehicles 2023-08-01 2024-07-31 05457538 core:OfficeEquipment 2023-08-01 2024-07-31 05457538 countries:EnglandWales 2023-08-01 2024-07-31 05457538 2023-07-31 05457538 core:FurnitureFittings 2023-07-31 05457538 core:LandBuildings core:LongLeaseholdAssets 2023-07-31 05457538 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 05457538 core:MotorVehicles 2023-07-31 05457538 core:OfficeEquipment 2023-07-31 05457538 2022-08-01 2023-07-31 05457538 2023-07-31 05457538 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-07-31 05457538 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-07-31 05457538 core:CurrentFinancialInstruments 2023-07-31 05457538 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 05457538 core:Non-currentFinancialInstruments 2023-07-31 05457538 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 05457538 core:BetweenTwoFiveYears 2023-07-31 05457538 core:MoreThanFiveYears 2023-07-31 05457538 core:WithinOneYear 2023-07-31 05457538 core:FurnitureFittings 2023-07-31 05457538 core:LandBuildings core:LongLeaseholdAssets 2023-07-31 05457538 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 05457538 core:MotorVehicles 2023-07-31 05457538 core:OfficeEquipment 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 05457538

BWL Sales Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

BWL Sales Limited

(Registration number: 05457538)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

485,080

532,788

Current assets

 

Stocks

5

956,756

872,561

Debtors

6

35,173

93,824

Cash at bank and in hand

 

4,932

34,990

 

996,861

1,001,375

Creditors: Amounts falling due within one year

7

(1,064,289)

(1,082,335)

Net current liabilities

 

(67,428)

(80,960)

Total assets less current liabilities

 

417,652

451,828

Creditors: Amounts falling due after more than one year

7

(228,776)

(187,551)

Net assets

 

188,876

264,277

Capital and reserves

 

Called up share capital

100

100

Retained earnings

188,776

264,177

Shareholders' funds

 

188,876

264,277

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 Income Statement.

Approved and authorised by the Board on 19 December 2024 and signed on its behalf by:
 

 

BWL Sales Limited

(Registration number: 05457538)
Statement of Financial Position as at 31 July 2024

.........................................
Mr Antony Mark Howey
Director

 

BWL Sales 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 England and Wales.

The address of its registered office is:
Beechwood House
Carlton Miniott
Thirsk
North Yorkshire
Y07 4NJ

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 compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

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.

 

BWL Sales Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position 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:

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 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

BWL Sales Limited

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

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 income statement 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 statement of financial position as a finance lease obligation.

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

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 12 (2023 - 12).

 

BWL Sales Limited

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

4

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

474,145

36,320

12,003

8,697

225,914

757,079

Additions

-

-

-

-

14,333

14,333

Disposals

-

-

-

-

(76,934)

(76,934)

At 31 July 2024

474,145

36,320

12,003

8,697

163,313

694,478

Depreciation

At 1 August 2023

59,749

36,310

7,173

8,294

112,765

224,291

Charge for the year

9,483

-

710

390

20,908

31,491

Eliminated on disposal

-

-

-

-

(46,384)

(46,384)

At 31 July 2024

69,232

36,310

7,883

8,684

87,289

209,398

Carrying amount

At 31 July 2024

404,913

10

4,120

13

76,024

485,080

At 31 July 2023

414,396

10

4,830

403

113,149

532,788

Included within the net book value of land and buildings above is £404,913 (2023 - £414,396) in respect of freehold land and buildings and £10 (2023 - £10) in respect of improvements to property.
 

5

Stocks

2024
£

2023
£

Raw materials and consumables

956,756

872,561

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

74,104

Prepayments

20,616

19,220

Other debtors

14,557

500

 

35,173

93,824

 

BWL Sales Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

451,772

373,938

Trade creditors

 

147,005

253,518

Taxation and social security

 

45,031

59,357

Accruals and deferred income

 

35,613

43,568

Other creditors

 

384,868

351,954

 

1,064,289

1,082,335

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

228,776

187,551

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

202,176

172,534

Hire purchase contracts

26,600

15,017

228,776

187,551

Current loans and borrowings

2024
£

2023
£

Bank borrowings

147,786

112,586

Bank overdrafts

295,586

247,925

Hire purchase contracts

8,400

13,427

451,772

373,938

 

BWL Sales Limited

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

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

17,365

14,176

Later than one year and not later than five years

46,972

40,554

Later than five years

2,390

11,952

66,727

66,682