Bristol Memorial Woodlands Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03757061 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

BRISTOL MEMORIAL WOODLANDS LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

10

DIRECTORS:

C Wilcox

C H Baker

P H Baker

D J Sinclair Rae

REGISTERED OFFICE:

C/O Memorial Woodlands

Earthcott Green

Alveston

Bristol

BS35 3TA

REGISTERED NUMBER:

03757061 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Ground Floor

Custom House

Waterfront East

Brierley Hill

West Midlands

DY5 1XH

FIXED ASSETS

Tangible assets

4

1,461,452

1,477,157

CURRENT ASSETS

Stocks

1,067,000

1,086,729

Debtors

5

74,968

93,479

Cash at bank and in hand

816,120

313,560

1,958,088

1,493,768

CREDITORS

Amounts falling due within one year

6

1,461,328

1,443,034

NET CURRENT ASSETS

496,760

50,734

TOTAL ASSETS LESS CURRENT LIABILITIES

1,958,212

1,527,891

CREDITORS

Amounts falling due after more than one year

7

(481,985

)

(211,224

)

PROVISIONS FOR LIABILITIES

10

(141,325

)

(109,304

)

NET ASSETS

1,334,902

1,207,363

CAPITAL AND RESERVES

Called up share capital

11

895

895

Share premium

12

208,052

208,052

Revaluation reserve

12

355,000

378,300

Capital redemption reserve

12

106

106

Retained earnings

12

770,849

620,010

SHAREHOLDERS' FUNDS

1,334,902

1,207,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 24 January 2024 and were signed on its behalf by:

C H Baker - Director

1.	STATUTORY INFORMATION

Bristol Memorial Woodlands 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover in relation to funeral services is recognised on the date of the service. Turnover in relation to the sale of plots is recognised when a specific plot allocation is made.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Depreciation is provided on freehold buildings on a straight line basis at 2% or 25% per annum, or over 10 years.

Motor vehicles subject to extensive restoration are not depreciated until the restoration is complete.

Stocks

Stock represents the cost of unsold burial plots at the end of each accounting period.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 27 (2022 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

land and

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 May 2022

1,550,656

325,629

310,317

30,910

2,217,512

Additions

13,969

17,918

17,861

1,130

50,878

Disposals

-

(112,389

)

(12,500

)

-

(124,889

)

Reclassification/transfer

65,000

-

-

-

65,000

At 30 April 2023

1,629,625

231,158

315,678

32,040

2,208,501

DEPRECIATION

At 1 May 2022

267,599

253,871

192,188

26,697

740,355

Charge for year

68,986

14,639

13,824

2,883

100,332

Eliminated on disposal

-

(81,273

)

(12,365

)

-

(93,638

)

At 30 April 2023

336,585

187,237

193,647

29,580

747,049

NET BOOK VALUE

At 30 April 2023

1,293,040

43,921

122,031

2,460

1,461,452

At 30 April 2022

1,283,057

71,758

118,129

4,213

1,477,157

Cost or valuation at 30 April 2023 is represented by:

Freehold

Fixtures

land and

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2015

500,000

-

-

-

500,000

Cost

1,129,625

231,158

315,678

32,040

1,708,501

1,629,625

231,158

315,678

32,040

2,208,501

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.4.23

30.4.22

£

£

Cost

1,129,625

1,050,656

Aggregate depreciation

256,585

197,599

Freehold land and buildings were valued on an open market basis on 10 July 2015 by Christie & Co .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 May 2022

65,000

127,945

192,945

Transfer to ownership

(65,000

)

-

(65,000

)

At 30 April 2023

-

127,945

127,945

DEPRECIATION

At 1 May 2022

44,434

88,114

132,548

Charge for year

-

9,958

9,958

Transfer to ownership

(44,434

)

-

(44,434

)

At 30 April 2023

-

98,072

98,072

NET BOOK VALUE

At 30 April 2023

-

29,873

29,873

At 30 April 2022

20,566

39,831

60,397

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

59,427

82,387

Other debtors

15,541

11,092

74,968

93,479

Included in other debtors there is an amount of £8,001 (2022 - £8,001) outstanding from a member of the board of directors.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans and overdrafts (see note 8)

238,461

57,844

Hire purchase contracts

10,488

36,366

Trade creditors

68,281

20,691

Taxation and social security

116,536

112,660

Other creditors

1,027,562

1,215,473

1,461,328

1,443,034

Since the end of the financial year the company has repaid a bank loan of £176,905 and repaid £105,000 in respect of a related party balance and a specific directors balance outstanding at 30th April 2023.

These repayments were funded in part by new bank loan finance that is reflected in the balance sheet at 30th April 2023.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans (see note 8)

481,985

199,723

Hire purchase contracts

-

11,501

481,985

211,224

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

254,500

65,634

8.

LOANS

An analysis of the maturity of loans is given below:

30.4.23

30.4.22

£

£

Amounts falling due within one year or on demand:

Bank loans

238,461

57,844

Amounts falling due between two and five years:

Bank loans - 2-5 years

227,485

134,089

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

254,500

65,634

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.23

30.4.22

£

£

Bank loans

720,446

257,567

Hire purchase contracts

10,488

47,867

730,934

305,434

As at 30th April 2023 the bank borrowing facilities of the company were secured by:

a) fixed and floating charges on all property and assets.

b) specific legal charges and debentures over the company's land and buildings.

The security outlined above reflects the changes referred to in note 9 (note 7 in the accounts filed at Companies House).

10.	PROVISIONS FOR LIABILITIES

30.4.23

30.4.22

£

£

Deferred tax on plant &

machinery etc

36,325

27,604

Deferred tax on property

revaluation

105,000

81,700

141,325

109,304

Deferred

Other

tax

provisions

£

£

Balance at 1 May 2022

27,604

81,700

Provided during year

8,721

23,300

Balance at 30 April 2023

36,325

105,000

The balance of £36,325 (2022 - £27,604) above relates to accelerated capital allowances.

The balance of £105,000 (2022 - £81,700) above relates to deferred tax arising on the property revaluation reserve.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.23

30.4.22

value:

£

£

950

Ordinary

£1

894

894

1

Ordinary B

£1

1

1

895

895

12.

RESERVES

Capital

Retained

Share

Revaluation

redemption

earnings

premium

reserve

reserve

Totals

£

£

£

£

£

At 1 May 2022

620,010

208,052

378,300

106

1,206,468

Profit for the year

150,839

150,839

Revaluation reserve

-

-

(23,300

)

-

(23,300

)

At 30 April 2023

770,849

208,052

355,000

106

1,334,007

13.	RELATED PARTY DISCLOSURES

The amounts owed to related parties are as follows:

30.4.23

30.4.22

£

£

Bristol Memorial Woodlands FP Limited

-

222,678

Bristol Memorial Woodlands Trust

187,216

199,144

187,216

421,822

Bristol Memorial Woodlands FP Limited ("BMWFP") is related by way of common directorship.

BMWFP ceased operations during the year as part of a planned process. To facilitate this Bristol Memorial Woodlands Limited transferred £408,863 to BMWFP. A balance of £186,185 is regarded as irrecoverable and has been provided for in full in these financial statements (note 4 refers).

A trustee of Bristol Memorial Woodlands Trust is also a director of Bristol Memorial Woodlands Limited.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is C H Baker.