Budd Plant Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07467793 (England and Wales)

Financial Statements for the Year Ended 31 December 2021

for

Budd Plant Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs B A Budd

M Budd

SECRETARY:

Mrs B A Budd

REGISTERED OFFICE:

87 High Street

Hanhamj

Bristol

BS15 3QG

REGISTERED NUMBER:

07467793 (England and Wales)

ACCOUNTANTS:

PBTA Keynsham Limited

2nd Floor, 53 High Street

Keynsham

N E Somerset

BS31 1DS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

48,944

64,806

48,944

64,806

CURRENT ASSETS

Stocks

655,821

367,316

Debtors

6

29,640

36,795

Cash at bank and in hand

1,430,271

1,580,403

2,115,732

1,984,514

CREDITORS

Amounts falling due within one year

7

1,310,449

1,197,464

NET CURRENT ASSETS

805,283

787,050

TOTAL ASSETS LESS CURRENT LIABILITIES

854,227

851,856

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

854,217

851,846

SHAREHOLDERS' FUNDS

854,227

851,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 for company number 07467793 were approved by the Board of Directors and authorised for issue on 20 September 2022 and were signed on its behalf by:

Mrs B A Budd - Director

1.	STATUTORY INFORMATION

Budd Plant 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

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

Tangible fixed assets

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

Improvements to property

-

at varying rates on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

20,000

AMORTISATION

At 1 January 2021

and 31 December 2021

20,000

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2021

18,581

47,444

1,375

Additions

-

2,250

820

Disposals

-

(18,554

)

(1,246

)

At 31 December 2021

18,581

31,140

949

DEPRECIATION

At 1 January 2021

9,290

19,961

1,072

Charge for year

929

3,495

132

Eliminated on disposal

-

(12,127

)

(1,001

)

At 31 December 2021

10,219

11,329

203

NET BOOK VALUE

At 31 December 2021

8,362

19,811

746

At 31 December 2020

9,291

27,483

303

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2021

56,237

1,008

124,645

Additions

-

700

3,770

Disposals

(11,134

)

(580

)

(31,514

)

At 31 December 2021

45,103

1,128

96,901

DEPRECIATION

At 1 January 2021

28,793

723

59,839

Charge for year

6,471

376

11,403

Eliminated on disposal

(9,577

)

(580

)

(23,285

)

At 31 December 2021

25,687

519

47,957

NET BOOK VALUE

At 31 December 2021

19,416

609

48,944

At 31 December 2020

27,444

285

64,806

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

28,749

36,345

Other debtors

891

450

29,640

36,795

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

96

47,147

Amounts owed to group undertakings

1,200,000

1,000,000

Taxation and social security

101,756

147,307

Other creditors

8,597

3,010

1,310,449

1,197,464

8.	ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Rose Renovations Limited. The ultimate controlling parties of the company are Mr M Budd and Mrs B Budd by virtue of their 100% shareholding of Rose Renovations Limited.