Company registration number 12828644 (England and Wales)
BRETT OWEN INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
BRETT OWEN INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BRETT OWEN INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
516,573
516,573
Current assets
Debtors
4
6,703
1,656
Investments
5
79,327
106,585
Cash at bank and in hand
11,889
967
97,919
109,208
Creditors: amounts falling due within one year
6
(621,894)
(620,785)
Net current liabilities
(523,975)
(511,577)
Net (liabilities)/assets
(7,402)
4,996
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(7,502)
4,896
Total equity
(7,402)
4,996

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 4 October 2023
Mr B  Owen
Director
Company registration number 12828644 (England and Wales)
BRETT OWEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Company information

Brett Owen Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.

1.1
Reporting period

The entity's prior reporting period was greater than 12 months. As a result, the financial information for the current reporting period will not be directly comparable to the prior period.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except for investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably, these instruments are measured at cost less impairment.

Basic financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BRETT OWEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.6
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 1 February 2022 and 31 January 2023
516,573

The fair value of the investment property was arrived at on the basis of a valuation carried out by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
501
837
Deferred tax asset
6,202
819
6,703
1,656
BRETT OWEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
5
Current asset investments
2023
2022
£
£
Other investments
79,327
106,585

The investment portfolios are held with Interactive Investor who are reputable and experienced brokers.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,494
1,784
Other creditors
619,400
619,001
621,894
620,785
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Related party transactions

At the balance sheet date, the company owed Owen Ventures Limited, a company under common control £617,000. The loan is interest free and repayable on demand.

2023-01-312022-02-01false05 October 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr B Owenfalse128286442022-02-012023-01-31128286442023-01-31128286442022-01-3112828644core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3112828644core:CurrentFinancialInstrumentscore:WithinOneYear2022-01-3112828644core:CurrentFinancialInstruments2023-01-3112828644core:CurrentFinancialInstruments2022-01-3112828644core:ShareCapital2023-01-3112828644core:ShareCapital2022-01-3112828644core:RetainedEarningsAccumulatedLosses2023-01-3112828644core:RetainedEarningsAccumulatedLosses2022-01-3112828644bus:Director12022-02-012023-01-31128286442020-08-212022-01-31128286442022-01-3112828644core:WithinOneYear2023-01-3112828644core:WithinOneYear2022-01-3112828644bus:PrivateLimitedCompanyLtd2022-02-012023-01-3112828644bus:SmallCompaniesRegimeForAccounts2022-02-012023-01-3112828644bus:FRS1022022-02-012023-01-3112828644bus:AuditExemptWithAccountantsReport2022-02-012023-01-3112828644bus:FullAccounts2022-02-012023-01-31xbrli:purexbrli:sharesiso4217:GBP