REGISTERED NUMBER: 03549436 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BERKELEY STAINLESS FITTINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P Hall

Mr R C Rawsthorne

Mr R Preston

SECRETARY:

Miss M D Wilkins

REGISTERED OFFICE:

13 Brookgate

South Liberty Lane

Ashton

Bristol

BS3 2UN

REGISTERED NUMBER:

03549436 (England and Wales)

AUDITORS:

Lawes & Co UK Limited (Statutory Auditors)

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,971,511

1,934,024

1,971,511

1,934,024

CURRENT ASSETS

Stocks

975,755

1,157,899

Debtors

6

2,365,850

816,649

Cash at bank

410,333

23,050

3,751,938

1,997,598

CREDITORS

Amounts falling due within one year

7

3,154,688

1,728,021

NET CURRENT ASSETS

597,250

269,577

TOTAL ASSETS LESS CURRENT LIABILITIES

2,568,761

2,203,601

CREDITORS

Amounts falling due after more than one year

8

(572,407

)

(923,990

)

PROVISIONS FOR LIABILITIES

10

(161,595

)

(152,224

)

NET ASSETS

1,834,759

1,127,387

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

1,834,659

1,127,287

SHAREHOLDERS' FUNDS

1,834,759

1,127,387

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Mr R C Rawsthorne - Director

1.	STATUTORY INFORMATION

Berkeley Stainless Fittings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Short leasehold

-

33% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

25,000

AMORTISATION

At 1 January 2024

and 31 December 2024

25,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST OR VALUATION

At 1 January 2024

1,325,130

10,984

1,553,504

Additions

-

-

232,604

At 31 December 2024

1,325,130

10,984

1,786,108

DEPRECIATION

At 1 January 2024

-

8,382

990,569

Charge for year

-

2,602

178,258

At 31 December 2024

-

10,984

1,168,827

NET BOOK VALUE

At 31 December 2024

1,325,130

-

617,281

At 31 December 2023

1,325,130

2,602

562,935

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

47,813

56,530

155,906

3,149,867

Additions

-

-

1,850

234,454

At 31 December 2024

47,813

56,530

157,756

3,384,321

DEPRECIATION

At 1 January 2024

44,053

27,382

145,457

1,215,843

Charge for year

940

7,287

7,880

196,967

At 31 December 2024

44,993

34,669

153,337

1,412,810

NET BOOK VALUE

At 31 December 2024

2,820

21,861

4,419

1,971,511

At 31 December 2023

3,760

29,148

10,449

1,934,024

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2008

(20,000

)

-

(20,000

)

Valuation in 2017

(75,308

)

-

(75,308

)

Valuation in 2021

75,308

-

75,308

Cost

1,356,114

2,048,207

3,404,321

1,336,114

2,048,207

3,384,321

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

1,000,500

56,530

1,057,030

Transfer to ownership

(45,000

)

-

(45,000

)

At 31 December 2024

955,500

56,530

1,012,030

DEPRECIATION

At 1 January 2024

569,155

27,382

596,537

Charge for year

106,806

7,287

114,093

Transfer to ownership

(36,129

)

-

(36,129

)

At 31 December 2024

639,832

34,669

674,501

NET BOOK VALUE

At 31 December 2024

315,668

21,861

337,529

At 31 December 2023

431,345

29,148

460,493

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,941,049

692,864

Other debtors

68,627

70,603

Directors' current accounts

316,180

-

Prepayments and accrued income

39,994

53,182

2,365,850

816,649

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

116,128

111,885

Hire purchase contracts (see note 9)

185,452

180,893

Trade creditors

1,796,543

844,710

Tax

315,455

116,245

Social security and other taxes

39,427

25,987

VAT

234,347

98,419

Other creditors

7,373

5,774

Invoice discounting loan

314,728

318,583

Directors' current accounts

-

737

Accruals

145,235

24,788

3,154,688

1,728,021

The bank holds security over the bank loan and overdraft. They have a first legal charge over the property at Unit 13, Brookgate, Ashton, Bristol and the property at Unit 5, Minton Park, Novers Hill, Bristol.They also have a personal guarantee from the director Mr J P Hall, limited to £50,000, supported by a first legal charge over Unit 1, Tividale Business Centre, Hainge Road, Oldbury, West Midlands.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 2-5 years

273,877

315,064

Bank loans more 5 yr by instal

78,456

203,400

Hire purchase contracts (see note 9)

220,074

405,526

572,407

923,990

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

78,456

203,400

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

185,452

180,893

Between one and five years

220,074

405,526

405,526

586,419

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

44,858

54,103

Between one and five years

22,530

67,388

67,388

121,491

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

161,595

152,224

Deferred

tax

£

Balance at 1 January 2024

152,224

Accelerated capital allowances

9,371

Balance at 31 December 2024

161,595

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Freeman BA FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lawes & Co UK Limited (Statutory Auditors)

13.	RELATED PARTY DISCLOSURES

During the year, an amount of £Nil (2023: £11,360) was paid to Mr J P Hall, the company director, for rent of properties owned by him personally. Mr J P Hall also received dividends of £100,000 (2023: £89,000) during the year.

During the year the company entered into, in the normal course of its business, various contracts for sales and purchases with BDE (Northampton) Limited, a business owned by Mr J P Hall. The total value of sales, net of VAT, invoiced by the company during the year was £158,283 (2023: £177,939) and the total value of purchases was £116,635 (2023: £974,587). At 31 December 2024 £7,292 (2023: £7,292) was owed by BDE (Northampton) Limited to the company.

During the year the company entered into, in the normal course of its business, various contracts for sales and purchases with BSF Thailand, a business owned by Mr J P Hall. The total value of sales, net of VAT, invoiced by the company during the year was £223,512 (2023: £65,811) and the total value of purchases was £3,659,038 (2023: £91,040). At 31 December 2024 £62,516 (2023: £62,516) was owed to the company by BSF Thailand.

During the year the company entered into, in the normal course of its business, various contracts for sales and purchases with Berkeley Professional Fitness Limited, a business owned by Mr J P Hall. The total value of sales, net of VAT, invoiced by the company during the year was £3,387 (2023: £16,179) and the total value of purchases was £Nil (2023: £52,500). At 31 December 2024 £Nil (2023: £Nil) was owed to the company by Berkeley Professional Fitness Limited.

The company had an a interest-free loan account with the director as at the balance sheet date of £316,179 due to the company (2023: £737 due from the company).

14.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr J P Hall, who is the sole shareholder.