Registered number
05186669
Bridport Interiors Limited
Filleted Accounts
31 December 2024
Bridport Interiors Limited
Registered number: 05186669
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 299,872 278,895
Current assets
Stocks 305,594 353,105
Debtors 4 1,912,435 2,100,873
Cash at bank and in hand 2,259,418 1,507,417
4,477,447 3,961,395
Creditors: amounts falling due within one year 5 (730,304) (715,521)
Net current assets 3,747,143 3,245,874
Net assets 4,047,015 3,524,769
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,046,915 3,524,669
Shareholder's funds 4,047,015 3,524,769
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 member has 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.
L Koppit
Director
Approved by the board on 9 September 2025
Bridport Interiors Limited
Notes to the Accounts
for the year ended 31 December 2024
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).
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.
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:
Office equipment 33.33% reducing balance
Motor vehicles 25% reducing balance
Plant and machinery 15% reducing balance
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 58,882 376,639 97,421 532,942
Additions 5,459 54,858 23,250 83,567
At 31 December 2024 64,341 431,497 120,671 616,509
Depreciation
At 1 January 2024 49,865 139,298 64,884 254,047
Charge for the year 4,824 43,820 13,946 62,590
At 31 December 2024 54,689 183,118 78,830 316,637
Net book value
At 31 December 2024 9,652 248,379 41,841 299,872
At 31 December 2023 9,017 237,341 32,537 278,895
4 Debtors 2024 2023
£ £
Trade debtors 401,315 615,179
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,493,290 1,464,710
Other debtors 17,830 20,984
1,912,435 2,100,873
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 322,742 378,913
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 57,188
Accruals and deferred income 141,818 26,180
Taxation and social security costs 265,744 253,240
730,304 715,521
6 Related party transactions
Included in debtors is an amount of £1,493,290 (2024: £1,464,710) due from Bridport Properties Ltd, a company in which C Evans and L Koppit are directors. The loan is not interest bearing and is repayable on demand.
7 Other information
Bridport Interiors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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