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Registration number: 06845525

R. Briggs Sheetmetal Fabrications Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

R. Briggs Sheetmetal Fabrications Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

R. Briggs Sheetmetal Fabrications Limited

Company Information

Directors

Mr D Seal

Mr J D Seal

Miss C L Seal

Registered office

1 Bond Street
Colne
Lancashire
BB8 9DG

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R. Briggs Sheetmetal Fabrications Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R. Briggs Sheetmetal Fabrications Limited for the year ended 30 September 2024 as set out on pages 3 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 R. Briggs Sheetmetal Fabrications Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of R. Briggs Sheetmetal Fabrications Limited and state those matters that we have agreed to state to the Board of Directors of R. Briggs Sheetmetal Fabrications 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 R. Briggs Sheetmetal Fabrications Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R. Briggs Sheetmetal Fabrications 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 R. Briggs Sheetmetal Fabrications Limited. You consider that R. Briggs Sheetmetal Fabrications 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 R. Briggs Sheetmetal Fabrications 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.

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

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

20 May 2025

 

R. Briggs Sheetmetal Fabrications Limited

(Registration number: 06845525)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

201,852

218,816

Current assets

 

Stocks

5

74,968

185,145

Debtors

6

1,490,096

1,265,964

Cash at bank and in hand

 

393,139

791,485

 

1,958,203

2,242,594

Creditors: Amounts falling due within one year

7

(549,238)

(809,113)

Net current assets

 

1,408,965

1,433,481

Total assets less current liabilities

 

1,610,817

1,652,297

Creditors: Amounts falling due after more than one year

7

(12,919)

(35,439)

Provisions for liabilities

(50,463)

(54,704)

Net assets

 

1,547,435

1,562,154

Capital and reserves

 

Called up share capital

400

500

Retained earnings

1,547,035

1,561,654

Shareholders' funds

 

1,547,435

1,562,154

For the financial year ending 30 September 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 May 2025 and signed on its behalf by:
 

.........................................
Mr D Seal
Director

 

R. Briggs Sheetmetal Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
1 Bond Street
Colne
Lancashire
BB8 9DG

The principal place of business is:
Unit 2
Wellington Street
Clayton-le-Moors
Accrington
Lancashire
BB5 5HU

These financial statements were authorised for issue by the Board on 20 May 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.

Going concern

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

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.

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.

 

R. Briggs Sheetmetal Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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

Plant and machinery

20% Reducing balance

Motor Vehicles

20% Reducing balance

Office equipment

20% Reducing balance

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 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.

 

R. Briggs Sheetmetal Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

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 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.

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.

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.

 

R. Briggs Sheetmetal Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 37 (2023 - 37).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

341,418

201,540

542,958

Additions

3,344

69,995

73,339

Disposals

(12,931)

(146,025)

(158,956)

At 30 September 2024

331,831

125,510

457,341

Depreciation

At 1 October 2023

197,044

127,098

324,142

Charge for the year

29,323

13,248

42,571

Eliminated on disposal

(10,311)

(100,913)

(111,224)

At 30 September 2024

216,056

39,433

255,489

Carrying amount

At 30 September 2024

115,775

86,077

201,852

At 30 September 2023

144,374

74,442

218,816

 

R. Briggs Sheetmetal Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Stocks

2024
£

2023
£

Work in progress

-

113,898

Other inventories

74,968

71,247

74,968

185,145

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

820,108

680,078

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

139,345

61,017

Prepayments

 

41,765

38,969

Other debtors

 

488,878

485,900

 

1,490,096

1,265,964

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

21,451

29,761

Trade creditors

 

325,846

461,649

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

25,000

27,890

Taxation and social security

 

101,739

200,523

Accruals and deferred income

 

64,388

72,899

Other creditors

 

10,814

16,391

 

549,238

809,113

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

12,919

35,439

 

R. Briggs Sheetmetal Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

6,252

18,772

Other borrowings

6,667

16,667

12,919

35,439

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

11,451

19,761

21,451

29,761

9

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Unsecured and repayable on demand; interest charged at the official rate

477,101

260,695

(257,000)

480,796

 

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Unsecured and repayable on demand; interest charged at the official rate

662,062

882,666

(1,067,627)

477,101

 

R. Briggs Sheetmetal Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

Summary of transactions with other related parties


Whalley Catering Equipment Limited

 
Mr D. Seal is a director of both Whalley Catering Equipment Limited and R. Briggs Sheetmetal Fabrications Limited.

 
During the year R. Briggs Sheetmetal Fabrications Limited continued to advance loan facilities to Whalley Catering Equipment Limited. The loan was repaid during the year (2023 - £9,172).


Whalley Electrical Ltd

Mr D. Seal is a director of both Whalley Electrical Ltd and R. Briggs Sheetmetal Fabrications Limited.

During the year Whalley Electrical Ltd continued to advance loan facilities to R. Briggs Sheetmetal Fabrications Limited. The loan of £25,000 (2023 - £27,890) is repayable on demand and has been classed as a creditor falling due for repayment within one year.


Whalley Climate Ltd

Mr D. Seal is a director of both Whalley Climate Ltd and R. Briggs Sheetmetal Fabrications Limited.

During the year R. Briggs Sheetmetal Fabrications Limited advanced loan facilities to Whalley Climate Ltd. The loan of £139,345 (2023 - £51,845) owed to Whalley Climate Ltd) is repayable on demand and has been classed as a debtor falling due for repayment within one year.