2022-04-012023-03-312023-03-31false05990118BRETT GARVIE 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BRETT GARVIE LIMITED

Registered Number
05990118
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

BRETT GARVIE LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

Mr Brett Garvie

Registered Address

Northfields Poundfield Lane
Stratton
Bude
EX23 9BS

Registered Number

05990118 (England and Wales)
BRETT GARVIE LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets635,26713,286
35,26713,286
Current assets
Debtors763,71763,541
Cash at bank and on hand214,778159,288
278,495222,829
Creditors amounts falling due within one year8(70,430)(63,213)
Net current assets (liabilities)208,065159,616
Total assets less current liabilities243,332172,902
Provisions for liabilities9(6,701)(2,524)
Net assets236,631170,378
Capital and reserves
Called up share capital500500
Profit and loss account236,131169,878
Shareholders' funds236,631170,378
The financial statements were approved and authorised for issue by the Director on 13 September 2023, and are signed on its behalf by:
Mr Brett Garvie
Director
Registered Company No. 05990118
BRETT GARVIE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Intangible assets policy
Goodwill is recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is consided to have a finite useful life and is amortised on a straight line basis over its expected life, which is 10 years.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year11
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2225,00025,000
At 31 March 2325,00025,000
Amortisation and impairment
At 01 April 2225,00025,000
At 31 March 2325,00025,000
Net book value
At 31 March 23--
At 31 March 22--
6.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 April 2242,25242,252
Additions37,42037,420
Disposals(27,000)(27,000)
At 31 March 2352,67252,672
Depreciation and impairment
At 01 April 2228,96628,966
Charge for year6,2236,223
On disposals(17,784)(17,784)
At 31 March 2317,40517,405
Net book value
At 31 March 2335,26735,267
At 31 March 2213,28613,286
7.Debtors

2023

2022

££
Trade debtors / trade receivables63,71763,541
Total63,71763,541
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables38,69621,565
Taxation and social security31,69037,826
Other creditors443,822
Total70,43063,213
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.
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)6,7012,524
Total6,7012,524