Bateman Brothers (1953) Limited Filleted accounts for Companies House (small and micro)

Bateman Brothers (1953) Limited Filleted accounts for Companies House (small and micro)

BATEMAN BROTHERS (1953) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00523677
BATEMAN BROTHERS (1953) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2022
BATEMAN BROTHERS (1953) LIMITED
FINANCIAL STATEMENTS
Year ended 30 September 2022
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
3
BATEMAN BROTHERS (1953) LIMITED
BALANCE SHEET
30 September 2022
2022
2021
Note
£
£
FIXED ASSETS
Tangible assets
5
52,853
30,255
Investments
6
1,000
1,000
--------
--------
53,853
31,255
CURRENT ASSETS
Stocks
184,365
163,565
Debtors
7
86,601
76,956
Cash at bank and in hand
58,286
79,670
---------
---------
329,252
320,191
CREDITORS: amounts falling due within one year
8
( 176,875)
( 142,989)
---------
---------
NET CURRENT ASSETS
152,377
177,202
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
206,230
208,457
CREDITORS: amounts falling due after more than one year
9
( 105,458)
( 92,801)
---------
---------
NET ASSETS
100,772
115,656
---------
---------
CAPITAL AND RESERVES
Called up share capital
5,000
5,000
Revaluation reserve
11,187
11,187
Profit and loss account
84,585
99,469
---------
---------
SHAREHOLDERS FUNDS
100,772
115,656
---------
---------
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 profit and loss account has not been delivered.
For the year ending 30 September 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 .
BATEMAN BROTHERS (1953) LIMITED
BALANCE SHEET (continued)
30 September 2022
These financial statements were approved by the board of directors and authorised for issue on 14 June 2023 , and are signed on behalf of the board by:
Mr M Solanot-Martinez
Director
Company registration number: 00523677
BATEMAN BROTHERS (1953) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 30 September 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Bessemer Road, Cardiff, CF11 8BA.
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.
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.
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.
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 & Machinery
-
5% - 25% straight line
Fixtures & fittings
-
5% - 10% straight line
Motor Vehicles
-
5% - 33% straight line
Equipment
-
10% - 20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 6 (2021: 7 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 October 2021
26,814
31,259
37,157
1,704
96,934
Additions
–
–
39,134
–
39,134
Disposals
–
–
( 16,660)
–
( 16,660)
--------
--------
--------
-------
---------
At 30 September 2022
26,814
31,259
59,631
1,704
119,408
--------
--------
--------
-------
---------
Depreciation
At 1 October 2021
20,695
24,900
20,040
1,044
66,679
Charge for the year
2,681
1,174
2,003
171
6,029
Disposals
–
–
( 6,153)
–
( 6,153)
--------
--------
--------
-------
---------
At 30 September 2022
23,376
26,074
15,890
1,215
66,555
--------
--------
--------
-------
---------
Carrying amount
At 30 September 2022
3,438
5,185
43,741
489
52,853
--------
--------
--------
-------
---------
At 30 September 2021
6,119
6,359
17,117
660
30,255
--------
--------
--------
-------
---------
Tangible assets held at valuation
A valuation was carried out on the fixtures, plant and equipment by the director on an open market basis on 30 September 2019.
6. INVESTMENTS
Other investments other than loans
£
Cost
At 1 October 2021 and 30 September 2022
1,000
-------
Impairment
At 1 October 2021 and 30 September 2022
–
-------
Carrying amount
At 30 September 2022
1,000
-------
At 30 September 2021
1,000
-------
7. DEBTORS
2022
2021
£
£
Trade debtors
83,928
72,454
Other debtors
2,673
4,502
--------
--------
86,601
76,956
--------
--------
8. CREDITORS: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
10,093
9,548
Trade creditors
144,351
114,492
Social security and other taxes
3,048
7,773
Other creditors
19,383
11,176
---------
---------
176,875
142,989
---------
---------
9. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
26,577
37,121
Other creditors
78,881
55,680
---------
--------
105,458
92,801
---------
--------
10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Included within other creditors is £57,706 (2021 - £55,706) due to directors. The loans are interest free and repayable on demand.
11. RELATED PARTY TRANSACTIONS
Included in trade debtors is £nil (2021 - £nil) due from Caterbar Limited. Included within trade creditors is £nil (2021 - £nil) due to Caterbar. Bateman Brothers (1953) Limited has a 10% shareholding in this company and Mr J J Spence is also a director of this company. During the year, sales of £nil (2021 - £65), purchases of £nil (2021 - £nil) and subscription fees of £6,066 (2021 - £5,133) were included in relation to Caterbar.