Company Registration No. 00546808 (England and Wales)
BLANCHARD BROS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes Audit Limited
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
BLANCHARD BROS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BLANCHARD BROS LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
868,000
872,000
Current assets
Debtors
4
973,833
939,810
Cash at bank and in hand
62
973,895
939,810
Creditors: amounts falling due within one year
5
(1,810)
(14,340)
Net current assets
972,085
925,470
Net assets
1,840,085
1,797,470
Capital and reserves
Called up share capital
6
13,000
13,000
Revaluation reserve
810,636
810,636
Profit and loss reserves
1,016,449
973,834
Total equity
1,840,085
1,797,470
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 June 2025 and are signed on its behalf by:
Mr M Najur
Director
Company registration number 00546808 (England and Wales)
BLANCHARD BROS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Blanchard Bros Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Sobell Rhodes LLP, The Kinetic Centre, Theobald Street, Elstree, Borehamwood, Hertfordshire, United Kingdom, WD6 4PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represent rental income charged under an operating lease and is recognized over the lease term.
1.4
Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives range as follows:
Buildings
Over 25 years
Plant and equipment
25% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Investment properties
Investment property rented to other group companies are treated as tangible fixed assets. They are classified as property, plant and equipment (land and buildings) and held at cost less depreciation and impairment.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
BLANCHARD BROS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company only enters into basic financial instruments transactions that result in 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 non-puttable ordinary shares.
Financial assets that are measured at cost and amortised costs are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset, and the net amount repoted in the balance sheet, when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Basic financial assets, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the current and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
BLANCHARD BROS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
880,000
1,593
881,593
Depreciation and impairment
At 1 July 2023
8,000
1,593
9,593
Depreciation charged in the year
4,000
4,000
At 30 June 2024
12,000
1,593
13,593
Carrying amount
At 30 June 2024
868,000
868,000
At 30 June 2023
872,000
872,000
The company's bankers hold a fixed and floating charge over the assets of the company.
Land and buildings consist of investment properties which are rented to group undertakings. The company has chosen to account for these properties at cost less depreciation and impairment.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
973,833
939,810
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,810
14,340
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Allotted, called up and fully paid
Ordinary shares of £1 each
13,000
13,000
13,000
13,000
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
BLANCHARD BROS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
7
Audit report information
(Continued)
- 5 -
Senior Statutory Auditor:
Selwyn Arnold BA(Hons) FCA
Statutory Auditor:
Sobell Rhodes Audit Limited
Date of audit report:
25 June 2025
8
Financial commitments, guarantees and contingent liabilities
The company has given unlimited guarantee to Roscolab Ltd's bankers for the use of the bank's credit facilities. The bank also holds a charge over the freehold property owned by Blanchard Bros Limited.
9
Events after the reporting date
Subsequent to the reporting date, the directors decided to place their property, held as Property, Plant, and Equipment (PPE), on the market for sale. This decision was based on the outcome of a post-year-end review of the property’s potential for sale. The property was then placed on the Market for sale on 1 November 2024.
A review of the communication during the year and other documentation confirms that as of the reporting date, there was no intention or commitment to sell the property. Legal work undertaken prior to year-end was limited to assessing the feasibility of a potential sale and did not indicate any formal decision or obligation. Therefore, this event is classified as a non-adjusting event under FRS 102 Section 32, as the conditions leading to the decision to sell did not exist at the reporting date.
The carrying amount of the property as at 30 June 2024 remains unchanged at £872,000
10
Related party transactions
During the year, the company charged rent of £70,000 (2023: £70,000) to its parent company. At the year end, there is an amount due of £973,436(2023: £939,810) due from the parent company and is repayable on demand.
11
Parent company
The immediate parent company is Roscolab Limited a company incorporated in the UK. The ultimate parent company is Roscolab Holding Corp., a company incorporated in the USA. Roscolab Holding Corp is the parent of the smallest and largest group of undertakings to consolidate these financial statements but does not make these accounts publicly available.