W.R.Bullen,Limited Filleted accounts for Companies House (small and micro)

W.R.Bullen,Limited Filleted accounts for Companies House (small and micro)

W.R.BULLEN,LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false No description of principal activity 2020-11-01 Sage Accounts Production Advanced 2019 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 00314635 2020-11-01 2021-10-31 00314635 2021-10-31 00314635 2020-10-31 00314635 2019-11-01 2020-10-31 00314635 2020-10-31 00314635 core:LandBuildings core:LongLeaseholdAssets 2020-11-01 2021-10-31 00314635 core:FurnitureFittings 2020-11-01 2021-10-31 00314635 core:MotorVehicles 2020-11-01 2021-10-31 00314635 bus:Director1 2020-11-01 2021-10-31 00314635 core:LandBuildings 2020-10-31 00314635 core:FurnitureFittings 2020-10-31 00314635 core:MotorVehicles 2020-10-31 00314635 core:LandBuildings 2021-10-31 00314635 core:FurnitureFittings 2021-10-31 00314635 core:MotorVehicles 2021-10-31 00314635 core:LandBuildings 2020-11-01 2021-10-31 00314635 core:WithinOneYear 2021-10-31 00314635 core:WithinOneYear 2020-10-31 00314635 core:AfterOneYear 2021-10-31 00314635 core:AfterOneYear 2020-10-31 00314635 core:ShareCapital 2021-10-31 00314635 core:ShareCapital 2020-10-31 00314635 core:RetainedEarningsAccumulatedLosses 2021-10-31 00314635 core:RetainedEarningsAccumulatedLosses 2020-10-31 00314635 core:MoreThanFiveYears 2021-10-31 00314635 core:MoreThanFiveYears 2020-10-31 00314635 core:LandBuildings 2020-10-31 00314635 core:FurnitureFittings 2020-10-31 00314635 core:MotorVehicles 2020-10-31 00314635 bus:SmallEntities 2020-11-01 2021-10-31 00314635 bus:AuditExemptWithAccountantsReport 2020-11-01 2021-10-31 00314635 bus:FullAccounts 2020-11-01 2021-10-31 00314635 bus:SmallCompaniesRegimeForAccounts 2020-11-01 2021-10-31 00314635 bus:PrivateLimitedCompanyLtd 2020-11-01 2021-10-31 00314635 core:AfterOneYear 2020-11-01 2021-10-31
COMPANY REGISTRATION NUMBER: 00314635
W.R.Bullen,Limited
Unaudited financial statements
31 October 2021
W.R.Bullen,Limited
Statement of financial position
31 October 2021
2021
2020
Note
£
£
£
£
Fixed assets
Tangible assets
5
87,154
30,660
Current assets
Stocks
455,837
422,787
Debtors
6
591,213
613,780
Cash at bank and in hand
213,808
160,634
-----------
-----------
1,260,858
1,197,201
Creditors: Amounts falling due within one year
7
( 162,678)
( 110,605)
-----------
-----------
Net current assets
1,098,180
1,086,596
-----------
-----------
Total assets less current liabilities
1,185,334
1,117,256
Creditors: Amounts falling due after more than one year
8
( 99,051)
( 97,264)
Provisions
Taxation including deferred tax
( 9,321)
1,847
-----------
-----------
Net assets
1,076,962
1,021,839
-----------
-----------
Capital and reserves
Called up share capital
3,400
3,400
Profit and loss account
1,073,562
1,018,439
-----------
-----------
Shareholders funds
1,076,962
1,021,839
-----------
-----------
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 income and retained earnings has not been delivered.
For the year ending 31 October 2021 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 .
W.R.Bullen,Limited
Statement of financial position (continued)
31 October 2021
These financial statements were approved by the board of directors and authorised for issue on 22 June 2022 , and are signed on behalf of the board by:
C J F Hemstock
Director
Company registration number: 00314635
W.R.Bullen,Limited
Notes to the financial statements
Year ended 31 October 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Gables, Old Market Street, Thetford, Norfolk, IP24 2EN. The trading address during the year was 29 London Street, Norwich, Norfolk, NR2 1HU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
Revenue recognition
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.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Leasehold property
-
20% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
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 stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts 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.
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.
4. Employee numbers
The average number of employees during the year was 7 (2020: 8 ).
5. Tangible assets
Leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2020
29,173
54,627
34,990
118,790
Additions
17,200
4,401
47,888
69,489
Disposals
( 1,995)
–
–
( 1,995)
-------
-------
-------
---------
At 31 October 2021
44,378
59,028
82,878
186,284
-------
-------
-------
---------
Depreciation
At 1 November 2020
28,428
48,767
10,935
88,130
Charge for the year
3,778
2,204
7,012
12,994
Disposals
( 1,994)
–
–
( 1,994)
-------
-------
-------
---------
At 31 October 2021
30,212
50,971
17,947
99,130
-------
-------
-------
---------
Carrying amount
At 31 October 2021
14,166
8,057
64,931
87,154
-------
-------
-------
---------
At 31 October 2020
745
5,860
24,055
30,660
-------
-------
-------
---------
6. Debtors
2021
2020
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
491,148
500,213
Other debtors
100,065
113,567
---------
---------
591,213
613,780
---------
---------
7. Creditors: Amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
28,621
10,754
Trade creditors
77,117
20,330
Social security and other taxes
30,135
44,943
Other creditors
26,805
34,578
---------
---------
162,678
110,605
---------
---------
Included in creditors are hire purchase liabilities of £11,632 (2020: £5,092) which are secured by charges over assets held by the company and bank loans and overdrafts of £28,621 (2020: £10,754) which are secured by the company.
8. Creditors: Amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
38,939
72,955
Other creditors
60,112
24,309
-------
-------
99,051
97,264
-------
-------
Included in creditors are hire purchase liabilities of £60,112 (2020: £24,309) which are secured by charges over assets held by the company and bank loans and overdrafts of £38,939 (2020: £72,955) which are secured by the company.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2021
2020
£
£
Later than 5 years
359,625
391,125
---------
---------