J.Bradshaw & Sons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00787046 (England and Wales)

Financial Statements

for the Year Ended 31 July 2021

for

J.Bradshaw & Sons Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R Bradshaw

Mr T C Bradshaw

SECRETARY:

Mr K B Garner

REGISTERED OFFICE:

Sturton by Stow

LINCOLN

Lincolnshire

LN1 2BX

REGISTERED NUMBER:

00787046 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

Lloyds Bank Plc

202 High Street

LINCOLN

LN5 7AP

FIXED ASSETS

Tangible assets

4

1,323,495

1,046,079

CURRENT ASSETS

Stocks

60,741

74,850

Debtors

5

675,185

515,080

Cash at bank and in hand

284,890

621,393

1,020,816

1,211,323

CREDITORS

Amounts falling due within one year

6

264,563

299,340

NET CURRENT ASSETS

756,253

911,983

TOTAL ASSETS LESS CURRENT LIABILITIES

2,079,748

1,958,062

PROVISIONS FOR LIABILITIES

86,187

87,631

NET ASSETS

1,993,561

1,870,431

CAPITAL AND RESERVES

Called up share capital

8,750

8,750

Retained earnings

1,984,811

1,861,681

SHAREHOLDERS' FUNDS

1,993,561

1,870,431

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 were approved by the Board of Directors and authorised for issue on 25 November 2021 and were signed on its behalf by:

Mr T C Bradshaw - Director

1.	STATUTORY INFORMATION

J.Bradshaw & Sons 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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

15% on reducing balance

Plant and machinery

-

33% on cost, 30% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2020 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 August 2020

140,191

387,277

9,089

3,380,769

3,917,326

Additions

-

14,000

4,312

607,942

626,254

Disposals

-

-

-

(456,425

)

(456,425

)

At 31 July 2021

140,191

401,277

13,401

3,532,286

4,087,155

DEPRECIATION

At 1 August 2020

54,693

364,534

585

2,451,435

2,871,247

Charge for year

6

6,445

3,101

307,287

316,839

Eliminated on disposal

-

-

-

(424,426

)

(424,426

)

At 31 July 2021

54,699

370,979

3,686

2,334,296

2,763,660

NET BOOK VALUE

At 31 July 2021

85,492

30,298

9,715

1,197,990

1,323,495

At 31 July 2020

85,498

22,743

8,504

929,334

1,046,079

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/21

31/7/20

£

£

Trade debtors

632,526

430,007

Bad debt provision

(392

)

(392

)

Other debtors

1,456

37,510

Prepayments

41,595

47,955

675,185

515,080

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/21

31/7/20

£

£

Trade creditors

152,951

131,283

Social security and other taxes

31,079

28,286

VAT

51,776

101,014

Other creditors

18,040

24,149

Accruals and deferred income

10,717

14,608

264,563

299,340

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8.	POST BALANCE SHEET EVENTS

Covid continued to have a material impact on the general economy at the year end.

The directors still consider that the trading capability of the company has not been affected.