ACCOUNTS - Final Accounts preparation

Registered number: 04674751

BLAND'S (RUTLAND) LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

BLAND'S (RUTLAND) LTD

REGISTERED NUMBER: 04674751

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		37,823		12,750
Tangible assets	5		2,119,983		1,475,647
			2,157,806		1,488,397
Current assets
Stocks		23,827		14,362
Debtors: amounts falling due within one year	6	561,411		626,684
Bank and cash balances		59,261		77,956
		644,499		719,002
Creditors: amounts falling due within one year	7	(747,640)		(691,446)
Net current (liabilities)/assets			(103,141)		27,556
Total assets less current liabilities			2,054,665		1,515,953
Creditors: amounts falling due after more than one year	8		(1,021,909)		(749,426)
Net assets			1,032,756		766,527

Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			1,031,756		765,527
			1,032,756		766,527

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BLAND'S (RUTLAND) LTD

REGISTERED NUMBER: 04674751

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr A Barrett

Director

Date: 16 September 2025

The notes on pages 3 to 11 form part of these financial statements.

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Bland's (Rutland) Ltd (“the Company”) is a private company limited by shares incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the Company information.
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

				Personalised registrations	-	5%	Reducing balance
				Goodwill	-	10%	Straight line

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance or straight line basis.

Depreciation is provided on the following basis:

				Premises improvements	-	20%	Straight line
				Commercial vehicles	-	20%	Reducing balance
				Plant and machinery	-	20%	Reducing balance
				Motor vehicles	-	25%	Reducing balance
				Fixtures and fittings	-	20%	Reducing balance
				Office equipment	-	20%	Straight line
				Coach improvements	-	33%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.14

Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.

Employees

The average monthly number of employees, including directors, during the year was 43 (2024 - 39).

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Intangible assets

		Personalised registrations	Goodwill	Total
		£	£	£
	Cost
	At 1 April 2024	-	63,750	63,750
	Additions	32,150	-	32,150
	At 31 March 2025	32,150	63,750	95,900
	Amortisation
	At 1 April 2024	-	51,000	51,000
	Charge for the year on owned assets	702	6,375	7,077
	At 31 March 2025	702	57,375	58,077
	Net book value
	At 31 March 2025	31,448	6,375	37,823
	At 31 March 2024	-	12,750	12,750

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		BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	5.	Tangible fixed assets

		Premises improvements	Commercial vehicles	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Coach improvements	Total
		£	£	£	£	£	£	£	£
	Cost
	At 1 April 2024	41,932	1,817,128	163,589	67,092	11,279	33,112	246,186	2,380,318
	Additions	38,824	686,500	158,045	169,924	-	18,295	85,640	1,157,228
	Disposals	-	(84,439)	(2,000)	(60,848)	-	(490)	-	(147,777)
	At 31 March 2025	80,756	2,419,189	319,634	176,168	11,279	50,917	331,826	3,389,769
	Depreciation
	At 1 April 2024	35,104	656,095	64,548	11,529	8,578	11,703	117,114	904,671
	Charge for the year on owned assets	11,069	278,364	29,642	21,926	541	9,523	76,049	427,114
	Disposals	-	(55,513)	(1,219)	(5,071)	-	(196)	-	(61,999)
	At 31 March 2025	46,173	878,946	92,971	28,384	9,119	21,030	193,163	1,269,786
	Net book value
	At 31 March 2025	34,583	1,540,243	226,663	147,784	2,160	29,887	138,663	2,119,983
	At 31 March 2024	6,828	1,161,033	99,041	55,563	2,701	21,409	129,072	1,475,647

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.

Debtors

					2025	2024
					£	£

	Trade debtors	333,002	321,229
	Amounts owed by group undertakings	-	163,530
	Other debtors	196,607	64,867
	Prepayments and accrued income	31,802	77,058
		561,411	626,684

Amounts owed by group undertakings are unsecured, are interest free and repayable on demand.

7.	Creditors: Amounts falling due within one year
					2025	2024
					£	£

	Other loans	10,000	10,000
	Trade creditors	166,759	210,001
	Other taxation and social security	22,932	31,207
	Obligations under finance lease and hire purchase contracts	510,065	323,749
	Other creditors	19,783	91,326
	Accruals and deferred income	18,101	25,163
		747,640	691,446

The other loans of £10,000 (2024: £10,000) falling due within one year are secured by the Company.
Obligations under finance lease and hire purchase contracts due within one year totalling £510,065 (2024: £323,749) are secured against the assets to which they relate.

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BLAND'S (RUTLAND) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Creditors: Amounts falling due after more than one year
					2025	2024
					£	£

	Other loans	2,500	12,500
	Obligations under finance lease and hire purchase contracts	1,019,409	736,926
		1,021,909	749,426

The other loans of £2,500 (2024: £12,500) falling dueafter more than one year are secured by the Company.
Obligations under finance lease and hire purchase contracts due after more than one year totalling £1,019,409 (2024: £736,926) are secured against the assets to which they relate.

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £77,037 (2024: £59,297). Contributions totalling £4,979 (2024: £5,289) were payable to the fund at the balance sheet date and are included within other creditors.

10.	Controlling party

The Company's ultimate parent undertaking is AT & A Barrett Limited (Previously Barrett's Motor Services Limited), a company incorporated in England and Wales, holds all of the issued shares in the Company. The registered office of AT & A Barrett Limited (Previously Barrett's Motor Services Limited) is 69 West End, West End, Langtoft, Peterborough, PE6 9LU.

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