Blamphayne Sawmill Limited 30/04/2022 iXBRL

Blamphayne Sawmill Limited 30/04/2022 iXBRL

BLAMPHAYNE SAWMILL LIMITED - Company Information

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0 30/04/2022 2022-04-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-05-01 Sage Accounts Production 21.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 03138554 2021-05-01 2022-04-30 03138554 2022-04-30 03138554 2021-04-30 03138554 2020-05-01 2021-04-30 03138554 2021-04-30 03138554 2020-04-30 03138554 core:PlantMachinery 2021-05-01 2022-04-30 03138554 core:FurnitureFittingsToolsEquipment 2021-05-01 2022-04-30 03138554 core:MotorVehicles 2021-05-01 2022-04-30 03138554 bus:RegisteredOffice 2021-05-01 2022-04-30 03138554 bus:LeadAgentIfApplicable 2021-05-01 2022-04-30 03138554 bus:Director1 2021-05-01 2022-04-30 03138554 bus:Director2 2021-05-01 2022-04-30 03138554 bus:Director3 2021-05-01 2022-04-30 03138554 bus:Director4 2021-05-01 2022-04-30 03138554 bus:CompanySecretary1 2021-05-01 2022-04-30 03138554 core:WithinOneYear 2022-04-30 03138554 core:WithinOneYear 2021-04-30 03138554 core:NetGoodwill 2022-04-30 03138554 core:LandBuildings 2021-04-30 03138554 core:PlantMachinery 2021-04-30 03138554 core:FurnitureFittingsToolsEquipment 2021-04-30 03138554 core:MotorVehicles 2021-04-30 03138554 core:LandBuildings 2022-04-30 03138554 core:PlantMachinery 2022-04-30 03138554 core:FurnitureFittingsToolsEquipment 2022-04-30 03138554 core:MotorVehicles 2022-04-30 03138554 core:LandBuildings 2021-05-01 2022-04-30 03138554 core:ShareCapital 2022-04-30 03138554 core:ShareCapital 2021-04-30 03138554 core:RetainedEarningsAccumulatedLosses 2022-04-30 03138554 core:RetainedEarningsAccumulatedLosses 2021-04-30 03138554 core:NetGoodwill 2021-04-30 03138554 core:LandBuildings 2021-04-30 03138554 core:PlantMachinery 2021-04-30 03138554 core:FurnitureFittingsToolsEquipment 2021-04-30 03138554 core:MotorVehicles 2021-04-30 03138554 bus:Director1 2021-04-30 03138554 bus:Director1 2022-04-30 03138554 bus:Director2 2021-04-30 03138554 bus:Director2 2022-04-30 03138554 bus:Director3 2021-04-30 03138554 bus:Director3 2022-04-30 03138554 bus:Director4 2021-04-30 03138554 bus:Director4 2022-04-30 03138554 bus:Director1 2020-04-30 03138554 bus:Director1 2021-04-30 03138554 bus:Director2 2020-04-30 03138554 bus:Director2 2021-04-30 03138554 bus:Director3 2020-04-30 03138554 bus:Director3 2021-04-30 03138554 bus:Director4 2020-04-30 03138554 bus:Director4 2021-04-30 03138554 bus:Director1 2020-05-01 2021-04-30 03138554 bus:Director2 2020-05-01 2021-04-30 03138554 bus:Director3 2020-05-01 2021-04-30 03138554 bus:Director4 2020-05-01 2021-04-30 03138554 bus:SmallEntities 2021-05-01 2022-04-30 03138554 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 03138554 bus:FullAccounts 2021-05-01 2022-04-30 03138554 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 03138554 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30
Company registration number: 03138554
Blamphayne Sawmill Limited
Unaudited filleted financial statements
30 April 2022
BLAMPHAYNE SAWMILL LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr N E L Willis
Mrs S Willis
Mr J N Willis
Mr J P Willis
Secretary Mrs S Willis
Company number 03138554
Registered office Iron Bridge
Gittisham
Honiton
Devon
EX14 3AN
Business address Iron Bridge
Gittisham
Honiton
Devon
EX14 3AN
Accountants Westcotts
Queens House
New Street
Honiton
Devon
EX14 1BJ
BLAMPHAYNE SAWMILL LIMITED
STATEMENT OF FINANCIAL POSITION
30 APRIL 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 688,013 725,510
_______ _______
688,013 725,510
Current assets
Stocks 772,063 663,042
Debtors 7 1,674,673 1,334,311
Cash at bank and in hand 1,354,288 1,029,137
_______ _______
3,801,024 3,026,490
Creditors: amounts falling due
within one year 8 ( 2,528,900) ( 2,126,128)
_______ _______
Net current assets 1,272,124 900,362
_______ _______
Total assets less current liabilities 1,960,137 1,625,872
Provisions for liabilities ( 126,717) ( 102,309)
_______ _______
Net assets 1,833,420 1,523,563
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 9 1,833,320 1,523,463
_______ _______
Shareholders funds 1,833,420 1,523,563
_______ _______
For the year ending 30 April 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.
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 22 December 2022 , and are signed on behalf of the board by:
Mr J P Willis
Director
Company registration number: 03138554
BLAMPHAYNE SAWMILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2022
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Iron Bridge, Gittisham, Honiton, Devon, EX14 3AN.
Principal activity
The principal activity of the company during the year was the operation of a sawmill.
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'.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: 10 years.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Freehold and leasehold properties - Straight line over 12 years
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
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.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
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 Nil (2021: 44 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 May 2021 and 30 April 2022 60,000 60,000
_______ _______
Amortisation
At 1 May 2021 and 30 April 2022 60,000 60,000
_______ _______
Carrying amount
At 30 April 2022 - -
_______ _______
At 30 April 2021 - -
_______ _______
6. Tangible assets
Freehold and leasehold properties Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 May 2021 478,506 900,034 36,075 484,040 1,898,655
Additions 37,946 96,635 - - 134,581
Disposals - - - ( 29,500) ( 29,500)
_______ _______ _______ _______ _______
At 30 April 2022 516,452 996,669 36,075 454,540 2,003,736
_______ _______ _______ _______ _______
Depreciation
At 1 May 2021 273,842 559,024 33,159 307,120 1,173,145
Charge for the year 49,713 75,470 729 43,584 169,496
Disposals - - - ( 26,918) ( 26,918)
_______ _______ _______ _______ _______
At 30 April 2022 323,555 634,494 33,888 323,786 1,315,723
_______ _______ _______ _______ _______
Carrying amount
At 30 April 2022 192,897 362,175 2,187 130,754 688,013
_______ _______ _______ _______ _______
At 30 April 2021 204,664 341,010 2,916 176,920 725,510
_______ _______ _______ _______ _______
7. Debtors
2022 2021
£ £
Trade debtors 1,671,193 1,313,464
Other debtors 3,480 20,847
_______ _______
1,674,673 1,334,311
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 2,176,771 1,704,387
Accruals and deferred income 27,213 24,992
Social security and other taxes 219,367 232,406
Other creditors 105,549 164,343
_______ _______
2,528,900 2,126,128
_______ _______
9. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director 1 ( 68,988) - 19,034 ( 49,954)
Director 2 ( 58,107) - 7,410 ( 50,697)
Director 3 ( 18,377) - 15,385 ( 2,992)
Director 4 ( 18,871) - 16,965 ( 1,906)
_______ _______ _______ _______
( 164,343) - 58,794 ( 105,549)
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director 1 ( 77,177) - 8,189 ( 68,988)
Director 2 ( 57,170) ( 937) - ( 58,107)
Director 3 ( 20,557) - 2,180 ( 18,377)
Director 4 ( 21,061) - 2,190 ( 18,871)
_______ _______ _______ _______
( 175,965) ( 937) 12,559 ( 164,343)
_______ _______ _______ _______