REGISTERED NUMBER: 01474968

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BUTLER REYNOLDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Colwell

Mr J P Nixon

REGISTERED OFFICE:

Unit 4 Wetherby Road

Osmaston Park Trading Estate

Derby

Derbyshire

DE24 8HL

REGISTERED NUMBER:

01474968

ACCOUNTANTS:

Magma Audit LLP

Unit 2 Charnwood Edge Business Park

Syston Road, Leicester

LE7 4UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Tangible assets

4

250,496

200,600

CURRENT ASSETS

Stocks

1,684,576

1,507,975

Debtors

5

679,475

790,441

Cash at bank and in hand

2,590,986

1,759,265

4,955,037

4,057,681

CREDITORS

Amounts falling due within one year

6

(3,372,618

)

(2,572,577

)

NET CURRENT ASSETS

1,582,419

1,485,104

TOTAL ASSETS LESS CURRENT LIABILITIES

1,832,915

1,685,704

CREDITORS

Amounts falling due after more than one year

7

(59,621

)

(48,900

)

PROVISIONS FOR LIABILITIES

9

(61,300

)

(39,700

)

NET ASSETS

1,711,994

1,597,104

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

1,661,994

1,547,104

SHAREHOLDERS' FUNDS

1,711,994

1,597,104

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

Mr A J Colwell - Director

Mr J P Nixon - Director

1.	STATUTORY INFORMATION

Butler Reynolds Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 4 Wetherby Road, Osmaston Park Industrial Estate, Derby, Derbyshire, DE24 8HL and the registered number is 01474968.

The presentation currency of the financial statements is the Pound Sterling (£), and the amounts are rounded to the nearest £1.

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.

Turnover

Turnover is measured at 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:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change 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.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

89,650

60,401

308,109

458,160

Additions

40,250

2,125

92,000

134,375

Disposals

(23,000

)

-

(46,994

)

(69,994

)

At 31 March 2025

106,900

62,526

353,115

522,541

DEPRECIATION

At 1 April 2024

53,831

50,694

153,035

257,560

Charge for year

7,066

2,152

49,999

59,217

Eliminated on disposal

(10,986

)

-

(33,746

)

(44,732

)

At 31 March 2025

49,911

52,846

169,288

272,045

NET BOOK VALUE

At 31 March 2025

56,989

9,680

183,827

250,496

At 31 March 2024

35,819

9,707

155,074

200,600

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

376,894

591,184

Amounts owed by group undertakings

209,987

144,987

Other debtors

18,000

-

Prepayments

74,594

54,270

679,475

790,441

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

70,019

Hire purchase contracts (see note 8)

37,831

25,037

Trade creditors

2,442,879

1,833,321

Amounts owed to group undertakings

34,689

62,739

Tax

116,338

112,182

VAT

459,544

184,173

Other creditors

70,232

1,977

Accrued expenses

211,105

283,129

3,372,618

2,572,577

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

59,621

48,900

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

37,831

25,037

Between one and five years

59,621

48,900

97,452

73,937

Non-cancellable

operating leases

2025

2024

£

£

Within one year

51,875

51,875

Between one and five years

89,062

140,937

140,937

192,812

Obligations under hire purchase contracts are secured on the assets concerned.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

61,300

39,700

Deferred

tax

£

Balance at 1 April 2024

39,700

Provided during year

21,600

Balance at 31 March 2025

61,300

10.	POST BALANCE SHEET EVENTS

After the year end but before the date of approval of the Balance Sheet, the parent company, BR Holdings Limited, was subject to a Management Buy Out.

This is not considered to present a financial effect within these financial statements.

11.	PARENT COMPANY

The immediate parent company is BR Holdings Limited, a company registered in England and Wales. The principal place of business is Unit 4 Wetherby Road, Osmaston Park Trading Estate, Derby, Derbyshire, DE24 8HL.

The ultimate parent company and controlling party is Ace Equipment Limited, a company registered in England and Wales. The principal place of business is Unit 4 Wetherby Road, Osmaston Park Trading Estate, Derby, Derbyshire, DE24 8HL.