Registered number
12199953
BFAB Group Limited (formerly Wharf Worktops Limited)
Unaudited Filleted Accounts
31 March 2025
BFAB Group Limited (formerly Wharf Worktops Limited)
Statement of Financial Position
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 4 96,250 113,750
Tangible assets 5 1,907 13,535
98,157 127,285
Current assets
Stocks 46,254 29,161
Debtors 6 217,169 256,895
263,423 286,056
Creditors: amounts falling due within one year 7 (366,730) (374,739)
Net current liabilities (103,307) (88,683)
Total assets less current liabilities (5,150) 38,602
Creditors: amounts falling due after more than one year 8 - (4,354)
Net (liabilities)/assets (5,150) 34,248
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (6,150) 33,248
Shareholders' funds (5,150) 34,248
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Bullen
Director
Approved by the board on 26 August 2025
Company registration number: 12199953
BFAB Group Limited (formerly Wharf Worktops Limited)
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The financial statements have been prepared on a going concern basis. The Directors have prepared forecasts for a period of greater than one year from the signature of the financial statements and have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Work in progress
Where the outcome of long term manufacturing projects can be reliably estimated, project revenue and costs are recognised by reference to the state of completion of the project activity as at the period end. Where the outcome of long term manufacturing projects cannot be estimated reliably, revenue is recognised to the extent of project costs incurred that it is probable will be recoveable, and project costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of the total estimated costs for each contract. Costs ncurred for the work performed to date do not include costs relating to future activity, such as for materials or prepayments and these are held in Work in Progress until they are released to the Statement of Income and Retained Earnings.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Profit before taxation 2025 2024
£ £
Profit before taxation is stated after charging
Amortisation of intangible assets 17,500 17,500
Depreciation of tangible assets 2,033 7,195
3 Employees 2025 2024
Number Number
Average number of persons employed by the company 14 13
4 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 175,000
At 31 March 2025 175,000
Amortisation
At 1 April 2024 61,250
Provided during the year 17,500
At 31 March 2025 78,750
Net book value
At 31 March 2025 96,250
At 31 March 2024 113,750
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 25,410 20,599 46,009
Disposals - (16,450) (16,450)
At 31 March 2025 25,410 4,149 29,559
Depreciation
At 1 April 2024 22,498 9,976 32,474
Charge for the year 1,005 1,028 2,033
On disposals - (6,855) (6,855)
At 31 March 2025 23,503 4,149 27,652
Net book value
At 31 March 2025 1,907 - 1,907
At 31 March 2024 2,912 10,623 13,535
Included within the net book value of £1,907 is £Nil (2024: £10,623) relating to assets held under hire purchase agreements.
6 Debtors 2025 2024
£ £
Trade debtors 97,249 83,822
Amounts owed by group undertakings and undertakings in which the company has a participating interest 83,347 156,950
Corporation tax - 941
Directors' loan accounts 15,316 -
Other debtors 21,257 15,182
217,169 256,895
7 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 36,514 15,380
Obligations under finance lease and hire purchase contracts - 5,313
Trade creditors 149,531 120,758
Taxation and social security costs 78,958 95,842
Directors' loan accounts - 6,543
Other creditors 101,727 130,903
366,730 374,739
8 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts - 4,354
9 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 103,333 103,333
10 Contingent liabilities
In the transfer of trade from Trevor Baker T/A Wharf Solid Surface to Wharf Worktops Limited (now BFAB Group Limited) there is a clause in the agreement that states that if Trevor Baker T/A Wharf Solid Surface was unable to pay their loan obligations then Wharf Worktops Limited (now BFAB Group Limited) would assume the liability. At 31 March 2025 the obligations recorded amounted to £35,040 (2024: £87,622).
11 Loans to/(from) directors
B/fwd Paid Repaid C/fwd
£ £ £ £
Mr T Baker (6,543) 21,859 15,316
(6,543) 21,859 - 15,316
12 Related party transactions
During the period the company made sales of goods and services of £227,530 (2024: £179,584) to Blackdown Fabrication Limited, a company under common control. The company also received goods and services from Blackdown Fabrication Limited for a value of £28,152 (2024: £29,608). At 31 March 2025 a balance of £83,347 (2024: £156,950) was due from Blackdown Fabrication Limited.
13 Other information
BFAB Group Limited (formerly Wharf Worktops Limited) is a private company limited by shares and incorporated in England. Its registered office is:
Epsilon House
Enterprise Road
Southampton Science Park
Southampton
SO16 7NS
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