Ballards Removals Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

Ballards Removals Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03185883 . The registered office is Ballards Business Park Old London Road, Markham Moor, Retford, Nottinghamshire, DN22 0TE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern which is based on the continued financial support of the group.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets is a domain name. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	15% reducing balance
Computer Equipment	33% reducing balance

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.8. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 73 (2023: 77)

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Ballards Removals Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 October 2023	254,737	145,000	399,737

As at 30 September 2024	254,737	145,000	399,737

Amortisation
As at 1 October 2023	123,124	114,792	237,916
Provided during the period	25,474	14,500	39,974

As at 30 September 2024	148,598	129,292	277,890

Net Book Value
As at 30 September 2024	106,139	15,708	121,847

As at 1 October 2023	131,613	30,208	161,821

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 October 2023	417,847	106,846	524,693

As at 30 September 2024	417,847	106,846	524,693

Depreciation
As at 1 October 2023	335,727	79,412	415,139
Provided during the period	12,319	9,125	21,444

As at 30 September 2024	348,046	88,537	436,583

Net Book Value
As at 30 September 2024	69,801	18,309	88,110

As at 1 October 2023	82,120	27,434	109,554

6. Stocks

	2024	2023
	£	£
Materials and consumables	43,898	39,212

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,137,018	885,830
Prepayments and accrued income	258,700	232,774

	1,395,718	1,118,604

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Ballards Removals Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	790,878	413,997
Bank loans and overdrafts	26,667	60,000
Other loans	845,285	615,188
Other taxes and social security	312,621	390,703
Other creditors	9,426	9,627
Accruals and deferred income	204,413	168,778
Amounts owed to group undertakings	1,190,276	1,216,902

	3,379,566	2,875,195

Within other loans is a secured invoice factoring facility of £826,659 (2023: £598,658) backed by trade debtors of £1,135,923 (2023: £729,445).

Within other loans is an amount due within one year of £18,626 (2023: £16,530) which is secured on the property known as 34 Milton Drive, Worksop, S81 0DL.

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	7,500	17,500
Other loans	19,142	37,767

	26,642	55,267

Within other loans is an amount due after more than one year of £19,142 (2023: £37,767) which is secured on the property known as 34 Milton Drive, Worksop, S81 0DL.

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	204,064	306,781
Later than one year and not later than five years	535,147	84,319

	739,211	391,100

12. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £10,026 (2023: £10,117) were due to the fund. They are included in Other Creditors.

13. Related Party Transactions

During the year, the Company made sales of £72,584 (2023: £Nil) to a company under common control. As at the balance sheet date, the Company was owed £24,218 (2023: £Nil) in relation to trading activity.

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Ballards Removals Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

14. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. Ultimate Controlling Party

The company's ultimate controlling party is Ballards Property Limited by virtue of their ownership of 100% of the issued share capital in the company.

The parent undertaking of the smallest and largest group to consolidate the company financial statements is Ballards Removals Holdings Limited. Copies of the consolidated financial statements can be obtained from Ballards Business Park, Old London Road, Markham Moor, Retford, Nottinghamshire, DN22 0TE.

16. Audit Information

The auditor's report on the accounts of Ballards Removals Limited for the year ended 30 September 2024 was unqualified.

The auditor's report was signed by Mr Daniel Johnson FCCA (Senior Statutory Auditor) for and on behalf of Nuvo Audit Limited , Statutory Auditor.

Nuvo Audit Limited

First Floor, Sterling House

Outrams Wharf

Little Eaton

Derby

DE21 5EL

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		121,847		161,821
Tangible Assets	5		88,110		109,554

			209,957		271,375
CURRENT ASSETS
Stocks	6	43,898		39,212
Debtors	7	1,395,718		1,118,604
Cash at bank and in hand		163,767		512,583

		1,603,383		1,670,399
Creditors: Amounts Falling Due Within One Year	8	(3,379,566 )		(2,875,195 )

NET CURRENT ASSETS (LIABILITIES)			(1,776,183 )		(1,204,796 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(1,566,226 )		(933,421 )

Creditors: Amounts Falling Due After More Than One Year	9		(26,642 )		(55,267 )

NET LIABILITIES			(1,592,868 )		(988,688 )

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			(1,592,870 )		(988,690 )

SHAREHOLDERS' FUNDS			(1,592,868)		(988,688)