Registered number
11427283
Brownstone Trading Limited
Unaudited Filleted Accounts
31 December 2021
Brownstone Trading Limited
Registered number: 11427283
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 449 925
Current assets
Stocks 29,856 25,960
Debtors 4 5,125 6,763
Cash at bank and in hand 17,787 10,251
52,768 42,974
Creditors: amounts falling due within one year 5 (48,248) (48,966)
Net current assets/(liabilities) 4,520 (5,992)
Total assets less current liabilities 4,969 (5,067)
Creditors: amounts falling due after more than one year 6 (5,696) (7,189)
Provisions for liabilities (85) -
Net liabilities (812) (12,256)
Capital and reserves
Called up share capital 200 200
Profit and loss account (1,012) (12,456)
Shareholders' funds (812) (12,256)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Twist
Director
Approved by the board on 12 September 2022
Brownstone Trading Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Going concern
The directors will continue to support the company.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods, which is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33.33% straight line
Office equipment 33.33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer equipment Office equipment Total
£ £ £
Cost
At 1 January 2021 1,586 - 1,586
Additions - 80 80
At 31 December 2021 1,586 80 1,666
Depreciation
At 1 January 2021 661 - 661
Charge for the year 529 27 556
At 31 December 2021 1,190 27 1,217
Net book value
At 31 December 2021 396 53 449
At 31 December 2020 925 - 925
4 Debtors 2021 2020
£ £
Trade debtors 1,891 6,763
Other debtors 3,234 -
5,125 6,763
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 1,628 949
Trade creditors - 465
Taxation and social security costs 4,234 1,612
Other creditors 42,386 45,940
48,248 48,966
Included in other creditors are the balances on the directors loan accounts. A Twist £26,388 (2020 £29,942) and J Twist £15,428 (2020 £15,428).
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 5,696 7,189
7 Other information
Brownstone Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 182
3 Edgar Buildings
George Street
Bath
BA1 2FJ
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