Braddicks Furnishers (Seafield) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00894652 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

BRADDICKS FURNISHERS (SEAFIELD) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B J Braddick

I R Braddick

J J Braddick

REGISTERED OFFICE:

28-31 Mill Street

Bideford

North Devon

EX39 2JJ

REGISTERED NUMBER:

00894652 (England and Wales)

ACCOUNTANTS:

Gravita Western Limited

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Intangible assets

5

551

823

Tangible assets

6

131,702

164,269

132,253

165,092

CURRENT ASSETS

Debtors

7

588,050

673,619

Cash at bank and in hand

91,751

448,676

679,801

1,122,295

CREDITORS

Amounts falling due within one year

8

(328,837

)

(259,399

)

NET CURRENT ASSETS

350,964

862,896

TOTAL ASSETS LESS CURRENT
LIABILITIES

483,217

1,027,988

PROVISIONS FOR LIABILITIES

(32,926

)

(41,266

)

NET ASSETS

450,291

986,722

CAPITAL AND RESERVES

Called up share capital

700

Retained earnings

449,591

986,022

SHAREHOLDERS' FUNDS

450,291

986,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 13 October 2025 and were signed on its behalf by:

J J Braddick - Director

1.	COMPANY INFORMATION

Braddicks Furnishers (Seafield) 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.

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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers falling within the company's ordinary activities.

Intangible assets

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

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class Amortisation rate

Intangible fixed assets 33% reducing balance

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Cash and cash equivalents

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 20 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2024

and 31 March 2025

3,285

AMORTISATION

At 1 April 2024

2,462

Amortisation for year

272

At 31 March 2025

2,734

NET BOOK VALUE

At 31 March 2025

551

At 31 March 2024

823

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2024

318,619

640,681

154,670

20,870

1,134,840

Additions

-

917

-

917

At 31 March 2025

318,619

640,681

155,587

20,870

1,135,757

DEPRECIATION

At 1 April 2024

318,619

493,828

148,739

9,385

970,571

Charge for year

-

29,371

1,242

2,871

33,484

At 31 March 2025

318,619

523,199

149,981

12,256

1,004,055

NET BOOK VALUE

At 31 March 2025

-

117,482

5,606

8,614

131,702

At 31 March 2024

-

146,853

5,931

11,485

164,269

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

520

-

Amounts owed by group undertakings

563,734

650,533

Other debtors

10,000

Payments on account

13,796

-

Prepayments and accrued income

-

13,086

588,050

673,619

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

9,732

24,000

Tax

79,665

38,642

Social security and other taxes

3,483

7,062

VAT

26,701

15,285

Other creditors

962

-

Deposits in advance

141,116

108,981

Directors' current accounts

18,178

22,516

Accruals and deferred income

49,000

42,913

328,837

259,399

9.	RELATED PARTY DISCLOSURES

A partnership in which JJ Braddick and BJ Braddick are partners had transactions with the company during the year. Included within other debtors is a loan due from the related party amounting to £10,000 (2024 - £10,000) which is interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Braddicks Furnishers (Bideford)Limited.