John Bradshaw And Son Limited 31/03/2020 iXBRL

JOHN BRADSHAW AND SON LIMITED - Company Information

65 31/03/2020 2020-03-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2019-04-01 Sage Accounts Production 20.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 719614 2019-04-01 2020-03-31 719614 2020-03-31 719614 2019-03-31 719614 2018-04-01 2019-03-31 719614 2019-03-31 719614 2018-03-31 719614 core:PlantMachinery 2019-04-01 2020-03-31 719614 core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 719614 core:MotorVehicles 2019-04-01 2020-03-31 719614 bus:RegisteredOffice 2019-04-01 2020-03-31 719614 bus:OrdinaryShareClass1 2019-04-01 2020-03-31 719614 bus:OrdinaryShareClass2 2019-04-01 2020-03-31 719614 bus:LeadAgentIfApplicable 2019-04-01 2020-03-31 719614 bus:Director1 2019-04-01 2020-03-31 719614 bus:Director4 2019-04-01 2020-03-31 719614 bus:Director5 2019-04-01 2020-03-31 719614 bus:Director2 2019-04-01 2020-03-31 719614 bus:Director3 2019-04-01 2020-03-31 719614 core:PlantMachinery 2019-03-31 719614 core:FurnitureFittingsToolsEquipment 2019-03-31 719614 core:MotorVehicles 2019-03-31 719614 core:PlantMachinery 2020-03-31 719614 core:FurnitureFittingsToolsEquipment 2020-03-31 719614 core:MotorVehicles 2020-03-31 719614 core:ShareCapital 2018-04-01 2019-03-31 719614 core:CapitalRedemptionReserve 2018-04-01 2019-03-31 719614 core:RetainedEarningsAccumulatedLosses 2018-04-01 2019-03-31 719614 core:RetainedEarningsAccumulatedLosses 2019-04-01 2020-03-31 719614 core:WithinOneYear 2020-03-31 719614 core:WithinOneYear 2019-03-31 719614 core:AfterOneYear 2020-03-31 719614 core:AfterOneYear 2019-03-31 719614 bus:AllOrdinaryShares 2019-04-01 2020-03-31 719614 bus:AllOrdinaryShares 2018-04-01 2019-03-31 719614 core:ShareCapital 2020-03-31 719614 core:ShareCapital 2019-03-31 719614 core:CapitalRedemptionReserve 2020-03-31 719614 core:CapitalRedemptionReserve 2019-03-31 719614 core:RetainedEarningsAccumulatedLosses 2020-03-31 719614 core:RetainedEarningsAccumulatedLosses 2019-03-31 719614 core:ShareCapital 2018-03-31 719614 core:RetainedEarningsAccumulatedLosses 2018-03-31 719614 bus:OrdinaryShareClass1 core:ShareCapital 2020-03-31 719614 bus:OrdinaryShareClass1 core:ShareCapital 2019-03-31 719614 bus:OrdinaryShareClass2 core:ShareCapital 2020-03-31 719614 bus:OrdinaryShareClass2 core:ShareCapital 2019-03-31 719614 core:BetweenOneFiveYears 2020-03-31 719614 core:BetweenOneFiveYears 2019-03-31 719614 core:CostValuation core:Non-currentFinancialInstruments 2019-03-31 719614 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2020-03-31 719614 core:CostValuation core:Non-currentFinancialInstruments 2020-03-31 719614 core:Non-currentFinancialInstruments 2020-03-31 719614 core:Non-currentFinancialInstruments 2019-03-31 719614 core:PlantMachinery 2019-03-31 719614 core:FurnitureFittingsToolsEquipment 2019-03-31 719614 core:MotorVehicles 2019-03-31 719614 bus:Director1 2019-03-31 719614 bus:Director1 2020-03-31 719614 bus:Director4 2019-03-31 719614 bus:Director4 2020-03-31 719614 bus:Director1 2018-03-31 719614 bus:Director1 2019-03-31 719614 bus:Director2 2018-03-31 719614 bus:Director3 2018-03-31 719614 bus:Director4 2019-03-31 719614 bus:Director1 2018-04-01 2019-03-31 719614 bus:Director2 2018-04-01 2019-03-31 719614 bus:Director3 2018-04-01 2019-03-31 719614 bus:Director4 2018-04-01 2019-03-31 719614 bus:SmallEntities 2019-04-01 2020-03-31 719614 bus:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 719614 bus:FullAccounts 2019-04-01 2020-03-31 719614 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 719614 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31

Company registration number: 719614

John Bradshaw And Son Limited

Unaudited filleted financial statements

31 March 2020

John Bradshaw And Son Limited

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

John Bradshaw And Son Limited

Directors and other information


Directors	Mr Michael Andrews
	Mr Davinder Bedi
	Mr Nicholas Wilkinson	(Appointed 21 August 2019)


Company number	719614


Registered office	Centrepoint
	Marshall Stevens Way
	Trafford Park
	Manchester
	M17 1PP


Business address	Centrepoint
	Marshall Stevens Way
	Trafford Park
	Manchester
	M17 1PP


Accountants	Clearlyread Limited
	Chartered Accountants
	18 Neofytou Nicolaidi Avenue
	Paphos
	8011




	Bankers	Royal Bank of Scotland
		5th Floor
		1 Spinningfields Square
		Deansgate
		Manchester M3 3AP

John Bradshaw And Son Limited

Statement of financial position

31 March 2020

		2020		2019
	Note	£	£	£	£

Fixed assets
Tangible assets	7	664,447		424,979
Investments	8	41,051		40,608
		_______		_______
			705,498		465,587

Current assets
Stocks	9	12,212		13,376
Debtors	10	850,510		1,149,395
Cash at bank and in hand		467,929		400,963
		_______		_______
		1,330,651		1,563,734
Creditors: amounts falling due
within one year	11	( 808,942)		( 1,030,974)
		_______		_______
Net current assets			521,709		532,760
			_______		_______
Total assets less current liabilities			1,227,207		998,347

Creditors: amounts falling due
after more than one year	12		( 241,482)		( 87,996)

Provisions for liabilities			( 126,269)		( 79,000)

			_______		_______
Net assets			859,456		831,351
			_______		_______

Capital and reserves
Called up share capital	14		12,687		12,687
Capital redemption reserve			12,813		12,813
Profit and loss account			833,956		805,851
			_______		_______
Shareholders funds			859,456		831,351
			_______		_______

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 19 October 2020 , and are signed on behalf of the board by:

Mr Michael Andrews

Director

Company registration number: 719614

John Bradshaw And Son Limited

Statement of changes in equity

Year ended 31 March 2020

	Called up share capital	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£


At 1 April 2018	25,500	-	837,127	862,627

Profit for the year			221,474	221,474
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	221,474	221,474

Dividends paid and payable			( 50,000)	( 50,000)
Cancellation of subscribed capital	( 12,813)	12,813	( 202,750)	( 202,750)
	_______	_______	_______	_______
Total investments by and distributions to owners	( 12,813)	12,813	( 252,750)	( 252,750)

	_______	_______	_______	_______
At 31 March 2019 and 1 April 2019	12,687	12,813	805,851	831,351

Profit for the year			78,105	78,105
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	78,105	78,105

Dividends paid and payable			( 50,000)	( 50,000)
	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	( 50,000)	( 50,000)

	_______	_______	_______	_______
At 31 March 2020	12,687	12,813	833,956	859,456
	_______	_______	_______	_______

John Bradshaw And Son Limited

Notes to the financial statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Centrepoint, Marshall Stevens Way, Trafford Park, Manchester, M17 1PP.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

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

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	straight line
Fittings fixtures and equipment	-	15 %	straight line
Motor vehicles	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 65 (2019: 69 ).

5. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2020	2019
	£	£
Remuneration	119,328	129,336
Company contributions to pension schemes in respect of qualifying services	10,200	12,450
	_______	_______
	129,528	141,786
	_______	_______

6. Dividends

Equity dividends

	2020	2019
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	50,000	50,000
	_______	_______

7. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2019	402,767	119,222	1,399,380	1,921,369
Additions	39,322	621	359,873	399,816
Disposals	-	-	( 314,690)	( 314,690)
	_______	_______	_______	_______
At 31 March 2020	442,089	119,843	1,444,563	2,006,495
	_______	_______	_______	_______
Depreciation
At 1 April 2019	290,881	106,456	1,099,053	1,496,390
Charge for the year	25,170	3,151	123,115	151,436
Disposals	-	-	( 305,778)	( 305,778)
	_______	_______	_______	_______
At 31 March 2020	316,051	109,607	916,390	1,342,048
	_______	_______	_______	_______
Carrying amount
At 31 March 2020	126,038	10,236	528,173	664,447
	_______	_______	_______	_______
At 31 March 2019	111,886	12,766	300,327	424,979
	_______	_______	_______	_______

8. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 April 2019	40,608	40,608
Additions	443	443
	_______	_______
At 31 March 2020	41,051	41,051
	_______	_______
Impairment
At 1 April 2019 and 31 March 2020	-	-
	_______	_______
Carrying amount
At 31 March 2020	41,051	41,051
	_______	_______
At 31 March 2019	40,608	40,608
	_______	_______

9. Stocks

	2020	2019
	£	£
Finished goods	12,212	13,376
	_______	_______

10. Debtors

	2020	2019
	£	£
Trade debtors	308,443	449,786
Amounts owed by company under common control	410,219	420,198
Other debtors	131,848	279,411
	_______	_______
	850,510	1,149,395
	_______	_______

Included in amounts due from company under common control is a loan of £330,000 on an interest only basis due from Bradshaw Assets Limited. The loan was formalised on 4 July 2019 and interest is payable at 1% above base rate.The loan is unsecured and the final repayment date is 31 December 2048.

11. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	176,642	329,502
Corporation tax	-	68,013
Social security and other taxes	145,829	130,679
Other creditors	486,471	502,780
	_______	_______
	808,942	1,030,974
	_______	_______

Other creditors includes hire purchase liabilities of £134,957 (2019 £86,134)

12. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Hire purchase liabilities due after one year but less than five	241,482	87,996
	_______	_______

13. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 65,799 (2019: £ 50,310 ).

14. Called up share capital

Issued, called up and fully paid

	2020		2019
	No	£	No	£
Ordinary shares shares of £ 1.00 each	12,500	12,500	12,500	12,500
Ordinary shares of class B,C,D,E& F shares of £ 1.00 each	187	187	187	187
	_______	_______	_______	_______
	12,687	12,687	12,687	12,687
	_______	_______	_______	_______

15. Operating leases

The company as lessee

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


	£	£

Not later than 1 year	211,674	297,458
Later than 1 year and not later than 5 years	607,261	749,561
	_______	_______
	818,935	1,047,019
	_______	_______

16. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2020
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Michael Andrews	( 20,229)	19,265	-	( 964)
	Mr Malcolm Halley	-	-	-	-
	Mr Rodney Seeland	-	-	-	-
	Mr Davinder Bedi	( 7,432)	7,000	-	( 432)
		_______	_______	_______	_______
		( 27,661)	26,265	-	( 1,396)
		_______	_______	_______	_______

2019
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Michael Andrews	( 689)	( 19,540)	-	( 20,229)
	Mr Malcolm Halley	( 463)	-	463	-
	Mr Rodney Seeland	( 6,076)	-	6,076	-
	Mr Davinder Bedi	-	( 7,432)	-	( 7,432)
		_______	_______	_______	_______
		( 7,228)	( 26,972)	6,539	( 27,661)
		_______	_______	_______	_______

17. Related party transactions

The management charge of £60,795(2019 £53,450) was paid to Clearly Read Limited, which is registered in Cyprus and 100% owned by Mr Bedi,a director of this Company. Various expenses incurred by the Company on behalf of Bradshaws of Leicester Limited have been recharged. The Company received a management charge from Bradshaws of Leicester Limited of £47,400 (2119 £41,600).At 31 March 2020 the Company was owed £80,219 (2019 £108,005) from Bradshaws of Leicester Limited and £330,000 (2019 £312,193) from Bradshaw Assets Limited.Mr Andrew and Mr Bedi own Bradshaws of Assets Limited and 51% of Bradshaws of Leicester Limited.The company paid rent to Bradshaw Assets Limited amounting to £48,750(2019 £62,083).Details of the loan of £330,000 are shown in note 10.