B North & Sons ( West Wycombe ) Limited Filleted accounts for Companies House (small and micro)

B. NORTH & SONS (WEST WYCOMBE) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00407477

B North & Sons ( West Wycombe ) Limited

Filleted Unaudited Financial Statements

31 March 2022

B North & Sons ( West Wycombe ) Limited

Statement of Financial Position

31 March 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		2,197,178	2,320,252

Current assets

Stocks		–	175,893
Debtors	6	375,087	529,347
Cash at bank and in hand		128,817	60,780
		---------	---------
		503,904	766,020

Creditors: amounts falling due within one year	7	880,520		1,294,651
		---------		------------
Net current liabilities			376,616	528,631
			------------	------------
Total assets less current liabilities			1,820,562	1,791,621
			------------	------------
Net assets			1,820,562	1,791,621
			------------	------------

Capital and reserves

Called up share capital	22,250	22,250
Profit and loss account	1,798,312	1,769,371
	------------	------------
Shareholders funds	1,820,562	1,791,621
	------------	------------

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 March 2022 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 .

B North & Sons ( West Wycombe ) Limited

Statement of Financial Position (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 14 December 2022 , and are signed on behalf of the board by:

Mr A R Tilbury

Director

Company registration number: 00407477

B North & Sons ( West Wycombe ) Limited

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in UK. The address of the registered office is Benson Waterfront, Benson, Wallingford, Oxon, OX106SJ.

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.

Leasehold properties

With effect from 31st March 2009, leasehold properties are shown at directors' valuation, representing current economic value.

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.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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	-	25% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Land and buildings	Plant and machinery	User defined asset	Total
	£	£	£	£
Cost
At 1 April 2021	1,788,384	44,052	518,000	2,350,436
Additions	200,000	–	–	200,000
Disposals	–	–	( 319,607)	( 319,607)
	------------	--------	---------	------------
At 31 March 2022	1,988,384	44,052	198,393	2,230,829
	------------	--------	---------	------------
Depreciation
At 1 April 2021	–	30,184	–	30,184
Charge for the year	–	3,467	–	3,467
	------------	--------	---------	------------
At 31 March 2022	–	33,651	–	33,651
	------------	--------	---------	------------
Carrying amount
At 31 March 2022	1,988,384	10,401	198,393	2,197,178
	------------	--------	---------	------------
At 31 March 2021	1,788,384	13,868	518,000	2,320,252
	------------	--------	---------	------------

6. Debtors

	2022	2021
	£	£
Trade debtors	228,987	371,856
Other debtors	146,100	157,491
	---------	---------
	375,087	529,347
	---------	---------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	54,933	55,521
Social security and other taxes	21,139	57,186
Other creditors	804,448	1,181,944
	---------	------------
	880,520	1,294,651
	---------	------------

8. Related party transactions

The company was under the control of the Tilbury Family throughout the current and previous year.