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Registered number: 00624494
THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Financial statements
Information for filing with the registrar
For the Year Ended 31 December 2024
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THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Company Information
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PKF Smith Cooper Audit Limited
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THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Registered number: 00624494
Balance sheet
As at 31 December 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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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 profit and loss account 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:
The notes on pages 2 to 6 form part of these financial statements.
Page 1
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THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
The Builders Centre (Sheffield) Limited is a private company limited by shares incorporated in England, United Kingdom. The company registration number and the address of the registered office is given in the company information page of these financial statements.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared on a going concern basis under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling which is the functional currency of the company and have been rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below, These policies have been consistently applied to all years presented unless otherwise stated.
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Frank Key Holdings Limited as at 31 December 2024 and these financial statements may be obtained from 22A Portland Street, Daybrook, Nottingham, NG5 6BL.
The company has net current liabilities at the balance sheet date. In the absence of other funding, the company may in the short term be dependent on the continued support of its fellow subsidiary undertaking, Frank Key (Nottingham) Limited. The directors of Frank Key (Nottingham) Limited have agreed to support the company to meet its liabilities as they fall due, for a period of at least twelve months from the date of approval of these financial statements.
The directors therefore consider it appropriate that the financial statements are prepared on the going concern basis.
Page 2
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THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets consists solely of freehold property. Freehold property is stated at valuation (fair value) less accumulated depreciation and accumulated impairment losses. As permitted by FRS 102, the Company has invoked the true and fair override to value properties at their fair value and not depreciate on the basis that the residual value is at least equal to the net book value.
Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
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The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
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Page 3
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THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
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Freehold land and buildings
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Cost or valuation at 31 December 2024 is as follows:
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Freehold land and buildings
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The freehold land and buildings were revalued on 1 February 2024 by SMC Brownill Vickers (Chartered Surveyors). The basis of this valuation was open market value on existing use basis.
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Page 4
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THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
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If the land and buildings had not been included at valuation they would have been included under historical cost convention as follows:
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Allotted, called up and fully paid
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1,000 (2023 - 1,000) Ordinary shares of £1.00 each
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Other financial commitments
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There is a mortgage deed on the property at Nunnery Drive, Sheffield, a fixed and floating charge over all company assets and a legal charge on the land off Nunnery Drive, Sheffield.
Page 5
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THE BUILDERS CENTRE (SHEFFIELD) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
There exists a cross-company guarantee and set-off agreement in favour of Lloyds Bank Plc between the Company and the companies comprising the group headed by Frank Key Holdings Limited.
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Related party transactions
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The company has taken advantage of the exemption available in FRS 102 s33.1a from disclosing transactions with wholly owned members of the group.
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The company is controlled by Frank Key Group Limited. The ultimate parent undertaking is Frank Key Holdings Limited.
The ultimate controlling parties are Mr R M and Mrs S E Sansom.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 30 September 2025 by James Bagley (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.
Page 6
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