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Registration number: 10235842

Old Berts Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Old Berts Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Old Berts Limited

Company Information

Directors

Mr Derick Roy Hutter

Mr Deryck Raymond Hutter

Registered office

Claysteps
Chardstock
Axminster
Devon
EX13 7DA

Accountants

CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX24 6JU

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Old Berts Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Old Berts Limited for the year ended 30 June 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Old Berts Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Old Berts Limited and state those matters that we have agreed to state to the Board of Directors of Old Berts Limited, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Old Berts Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Old Berts 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 loss of Old Berts Limited. You consider that Old Berts 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 Old Berts 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.




CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX24 6JU

12 June 2025

 

Old Berts Limited

(Registration number: 10235842)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

26,366

26,882

Current assets

 

Stocks

5

1,250

1,250

Debtors

6

(40,350)

(23,852)

Cash at bank and in hand

 

204

980

 

(38,896)

(21,622)

Creditors: Amounts falling due within one year

(56,155)

(74,378)

Net current liabilities

 

(95,051)

(96,000)

Total assets less current liabilities

 

(68,685)

(69,118)

Creditors: Amounts falling due after more than one year

(23,368)

(20,257)

Accruals and deferred income

 

(6,995)

(2,230)

Net liabilities

 

(99,048)

(91,605)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(99,050)

(91,607)

Shareholders' deficit

 

(99,048)

(91,605)

For the financial year ending 30 June 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.

 

Old Berts Limited

(Registration number: 10235842)
Abridged Balance Sheet as at 30 June 2024

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 12 June 2025 and signed on its behalf by:
 

Mr Derick Roy Hutter
Director

Mr Deryck Raymond Hutter
Director

 
     
 

Old Berts Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Claysteps
Chardstock
Axminster
Devon
EX13 7DA

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 abridged 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 abridged 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.

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:

 

Old Berts Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Plant & Machinery

25% reducing balance basis

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.

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.

 

Old Berts Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 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 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.

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.

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 1 (2023 - 5).

 

Old Berts Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Long leasehold land and buildings
£

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

24,821

120

7,365

32,306

At 30 June 2024

24,821

120

7,365

32,306

Depreciation

At 1 July 2023

-

69

5,355

5,424

Charge for the year

-

13

503

516

At 30 June 2024

-

82

5,858

5,940

Carrying amount

At 30 June 2024

24,821

38

1,507

26,366

At 30 June 2023

24,821

51

2,010

26,882

Included within the net book value of land and buildings above is £24,821 (2023 - £24,821) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

1,250

1,250

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2