B I Appleton Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00657443 (England and Wales)

Financial Statements for the Year Ended 30 April 2023

for

B I APPLETON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H J Evans

P J R Evans

SECRETARY:

REGISTERED OFFICE:

Service Garage

Styal Road

Heald Green

Cheshire

SK8 3UA

REGISTERED NUMBER:

00657443 (England and Wales)

ACCOUNTANT:

Mourne & Co

10 Market Street

Chapel-en-le-Frith

High Peak

Derbyshire

SK23 0HH

SOLICITORS:

Butcher & Barlow LLP

205 Moss Lane

Bramhall

Stockport

Cheshire

SK7 1BA

FIXED ASSETS

Tangible assets

4

54,307

26,902

CURRENT ASSETS

Stocks

5

15,000

12,000

Debtors

6

96,893

28,952

Cash at bank and in hand

43,446

102,526

155,339

143,478

CREDITORS

Amounts falling due within one year

7

107,019

76,492

NET CURRENT ASSETS

48,320

66,986

TOTAL ASSETS LESS CURRENT LIABILITIES

102,627

93,888

CREDITORS

Amounts falling due after more than one year

8

36,885

43,480

NET ASSETS

65,742

50,408

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

12

64,742

49,408

SHAREHOLDERS' FUNDS

65,742

50,408

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:

H J Evans - Director

P J R Evans - Director

1.	STATUTORY INFORMATION

B I Appleton 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The financial statements have been prepared under the historic cost convention, except for modification to a fair value basis for certain fixed assets, as specified in the accounting policies below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Property improvements

-

at varying rates on cost

Plant & equipment

-

10% 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

The following assets and liabilities are classified as financial instruments; trade debtors, trade creditors, bank loans and directors loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Property

Plant &

Motor

Computer

improvements

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2022

15,051

91,323

7,695

-

114,069

Additions

10,029

20,724

2,000

1,901

34,654

At 30 April 2023

25,080

112,047

9,695

1,901

148,723

DEPRECIATION

At 1 May 2022

8,268

77,443

1,456

-

87,167

Charge for year

1,254

3,460

2,060

475

7,249

At 30 April 2023

9,522

80,903

3,516

475

94,416

NET BOOK VALUE

At 30 April 2023

15,558

31,144

6,179

1,426

54,307

At 30 April 2022

6,783

13,880

6,239

-

26,902

5.

STOCKS

30.4.23

30.4.22

£

£

Stocks

15,000

12,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

61,693

21,540

Amounts owed by group undertakings

31,757

7,412

Prepayments

3,443

-

96,893

28,952

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade creditors

75,766

45,270

Taxation

10,474

6,212

Social security & other taxes

5,012

14,015

VAT

12,967

7,195

Accrued expenses

2,800

3,800

107,019

76,492

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans (see note 9)

36,885

43,480

9.

LOANS

An analysis of the maturity of loans is given below:

30.4.23

30.4.22

£

£

Amounts falling due between two and five years:

Bank loan (BBLS)

36,885

43,480

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.4.23

30.4.22

£

£

Within one year

30,000

30,000

Between one and five years

120,000

120,000

150,000

150,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.23

30.4.22

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

RESERVES

Retained

earnings

£

At 1 May 2022

49,408

Profit for the year

45,334

Dividends

(30,000

)

At 30 April 2023

64,742

13.	ULTIMATE CONTROLLING PARTY

The company was throughout the year under the control of P & H Evans Limited by virtue of its 100% holding in the issued ordinary share capital.

The ultimate controlling party throughout the year was H J Evans & P J R Evans by virtue of their 100% holding in the issued ordinary share capital of P & H Evans Limited.