Blamphayne Sawmill Limited 30/04/2021 iXBRL

BLAMPHAYNE SAWMILL LIMITED - Company Information

30/04/2021 2021-04-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2020-05-01 Sage Accounts Production 21.0 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 03138554 2020-05-01 2021-04-30 03138554 2021-04-30 03138554 2020-04-30 03138554 2019-05-01 2020-04-30 03138554 2020-04-30 03138554 2019-04-30 03138554 core:PlantMachinery 2020-05-01 2021-04-30 03138554 core:FurnitureFittingsToolsEquipment 2020-05-01 2021-04-30 03138554 core:MotorVehicles 2020-05-01 2021-04-30 03138554 bus:Director4 2020-05-01 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 core:WithinOneYear 2021-04-30 03138554 core:WithinOneYear 2020-04-30 03138554 core:NetGoodwill 2021-04-30 03138554 core:LandBuildings 2020-04-30 03138554 core:PlantMachinery 2020-04-30 03138554 core:FurnitureFittingsToolsEquipment 2020-04-30 03138554 core:MotorVehicles 2020-04-30 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 2020-05-01 2021-04-30 03138554 core:ShareCapital 2021-04-30 03138554 core:ShareCapital 2020-04-30 03138554 core:RetainedEarningsAccumulatedLosses 2021-04-30 03138554 core:RetainedEarningsAccumulatedLosses 2020-04-30 03138554 core:NetGoodwill 2020-04-30 03138554 core:LandBuildings 2020-04-30 03138554 core:PlantMachinery 2020-04-30 03138554 core:FurnitureFittingsToolsEquipment 2020-04-30 03138554 core:MotorVehicles 2020-04-30 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 2019-04-30 03138554 bus:Director1 2020-04-30 03138554 bus:Director2 2019-04-30 03138554 bus:Director2 2020-04-30 03138554 bus:Director3 2019-04-30 03138554 bus:Director3 2020-04-30 03138554 bus:Director4 2019-04-30 03138554 bus:Director4 2020-04-30 03138554 bus:Director1 2019-05-01 2020-04-30 03138554 bus:Director2 2019-05-01 2020-04-30 03138554 bus:Director3 2019-05-01 2020-04-30 03138554 bus:Director4 2019-05-01 2020-04-30 03138554 bus:SmallEntities 2020-05-01 2021-04-30 03138554 bus:AuditExemptWithAccountantsReport 2020-05-01 2021-04-30 03138554 bus:FullAccounts 2020-05-01 2021-04-30 03138554 bus:SmallCompaniesRegimeForAccounts 2020-05-01 2021-04-30 03138554 bus:PrivateLimitedCompanyLtd 2020-05-01 2021-04-30

Company registration number: 03138554

Blamphayne Sawmill Limited

Unaudited filleted financial statements

30 April 2021

BLAMPHAYNE SAWMILL LIMITED

Contents

Statement of financial position

Notes to the financial statements

BLAMPHAYNE SAWMILL LIMITED

STATEMENT OF FINANCIAL POSITION

30 APRIL 2021

		2021		2020
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	725,510		638,215
		_______		_______
			725,510		638,215

Current assets
Stocks		663,042		465,000
Debtors	7	1,334,311		974,725
Cash at bank and in hand		1,029,137		558,643
		_______		_______
		3,026,490		1,998,368
Creditors: amounts falling due
within one year	8	( 2,126,128)		( 1,282,753)
		_______		_______
Net current assets			900,362		715,615
			_______		_______
Total assets less current liabilities			1,625,872		1,353,830


Provisions for liabilities			( 102,309)		( 98,886)

			_______		_______
Net assets			1,523,563		1,254,944
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account	9		1,523,463		1,254,844
			_______		_______
Shareholders funds			1,523,563		1,254,944
			_______		_______

For the year ending 30 April 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.

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 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 14 December 2021 , 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 2021

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.

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.

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 44 (2020: 42 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 May 2020 and 30 April 2021	60,000	60,000
	_______	_______
Amortisation
At 1 May 2020 and 30 April 2021	60,000	60,000
	_______	_______
Carrying amount
At 30 April 2021	-	-
	_______	_______
At 30 April 2020	-	-
	_______	_______

6. Tangible assets

	Freehold and leasehold properties	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 May 2020	369,183	790,586	36,075	456,132	1,651,976
Additions	109,323	109,448	-	45,876	264,647
Disposals	-	-	-	( 17,968)	( 17,968)
	_______	_______	_______	_______	_______
At 30 April 2021	478,506	900,034	36,075	484,040	1,898,655
	_______	_______	_______	_______	_______
Depreciation
At 1 May 2020	227,923	489,335	32,187	264,316	1,013,761
Charge for the year	45,919	69,689	972	58,973	175,553
Disposals	-	-	-	( 16,169)	( 16,169)
	_______	_______	_______	_______	_______
At 30 April 2021	273,842	559,024	33,159	307,120	1,173,145
	_______	_______	_______	_______	_______
Carrying amount
At 30 April 2021	204,664	341,010	2,916	176,920	725,510
	_______	_______	_______	_______	_______
At 30 April 2020	141,260	301,251	3,888	191,816	638,215
	_______	_______	_______	_______	_______

7. Debtors

	2021	2020
	£	£
Trade debtors	1,313,464	900,262
Other debtors	20,847	74,463
	_______	_______
	1,334,311	974,725
	_______	_______

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	1,704,387	872,997
Accruals and deferred income	24,992	26,610
Social security and other taxes	232,406	207,181
Other creditors	164,343	175,965
	_______	_______
	2,126,128	1,282,753
	_______	_______

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:


	Loans to / (from) directors at 1 May 2020	Loans to / (from) the directors	Amounts repaid	Balance at 30 April 2021
	£	£	£	£
Director 1	( 77,177)	-	8,188	( 68,989)
Director 2	( 57,170)	( 938)	-	( 58,108)
Director 3	( 20,557)	-	2,180	( 18,377)
Director 4	( 21,061)	-	2,190	( 18,871)
	_______	_______	_______	_______
	( 175,965)	( 938)	12,558	( 164,345)
	_______	_______	_______	_______


	Loans to / (from) directors at 1 May 2019	Loans to / (from) the directors	Amounts repaid	Balance at 30 April 2020
	£	£	£	£
Director 1	( 89,664)	-	12,487	( 77,177)
Director 2	( 62,988)	-	5,818	( 57,170)
Director 3	( 58,395)	-	37,838	( 20,557)
Director 4	( 58,859)	-	37,798	( 21,061)
	_______	_______	_______	_______
	( 269,906)	-	93,941	( 175,965)
	_______	_______	_______	_______

11. Coronavirus Job Retention Scheme

The Company was the recipient of government assistance as a result of participating in the Coronavirus Job Retention Scheme during the year. The total funds recognised on an accruals basis from the UK Government during the year was £16,126.