2 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-04-27 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 14073189 2022-04-27 2023-03-31 14073189 2023-03-31 14073189 core:MotorVehicles 2022-04-27 2023-03-31 14073189 core:OnerousContractsExcludingVacantProperties 2022-04-27 2023-03-31 14073189 bus:RegisteredOffice 2022-04-27 2023-03-31 14073189 bus:LeadAgentIfApplicable 2022-04-27 2023-03-31 14073189 bus:Director1 2022-04-27 2023-03-31 14073189 bus:Director2 2022-04-27 2023-03-31 14073189 core:MotorVehicles 2023-03-31 14073189 core:ShareCapital 2022-04-27 2023-03-31 14073189 core:RetainedEarningsAccumulatedLosses 2022-04-27 2023-03-31 14073189 core:WithinOneYear 2023-03-31 14073189 core:ShareCapital 2023-03-31 14073189 core:RetainedEarningsAccumulatedLosses 2023-03-31 14073189 bus:Director1 2023-03-31 14073189 bus:SmallEntities 2022-04-27 2023-03-31 14073189 bus:AuditExemptWithAccountantsReport 2022-04-27 2023-03-31 14073189 bus:FullAccounts 2022-04-27 2023-03-31 14073189 bus:SmallCompaniesRegimeForAccounts 2022-04-27 2023-03-31 14073189 bus:PrivateLimitedCompanyLtd 2022-04-27 2023-03-31 14073189 core:ComputerEquipment 2022-04-27 2023-03-31 14073189 core:ComputerEquipment 2023-03-31
Company registration number: 14073189
BRAAT Drylining Ltd
Unaudited filleted financial statements
31 March 2023
BRAAT Drylining Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
BRAAT Drylining Ltd
Directors and other information
Directors Robert Hardiman
Amy Hardiman
Company number 14073189
Registered office 47 Kestrel Grove
Caddington
Luton
LU1 4FT
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
BRAAT Drylining Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of BRAAT Drylining Ltd
Period ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BRAAT Drylining Ltd for the period ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of BRAAT Drylining Ltd, as a body, in accordance with the terms of our engagement letter dated 27 April 2022. Our work has been undertaken solely to prepare for your approval the financial statements of BRAAT Drylining Ltd and state those matters that we have agreed to state to the board of directors of BRAAT Drylining Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BRAAT Drylining Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that BRAAT Drylining Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BRAAT Drylining Ltd. You consider that BRAAT Drylining Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of BRAAT Drylining Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
13 October 2023
BRAAT Drylining Ltd
Statement of financial position
31 March 2023
31/03/23
Note £ £
Fixed assets
Tangible assets 5 6,033
_______
6,033
Current assets
Debtors 6 18,120
Cash at bank and in hand 2,881
_______
21,001
Creditors: amounts falling due
within one year 7 ( 12,233)
_______
Net current assets 8,768
_______
Total assets less current liabilities 14,801
Provisions for liabilities ( 1,200)
_______
Net assets 13,601
_______
Capital and reserves
Called up share capital 100
Profit and loss account 13,501
_______
Shareholders funds 13,601
_______
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 October 2023 , and are signed on behalf of the board by:
Robert Hardiman
Director
Company registration number: 14073189
BRAAT Drylining Ltd
Statement of changes in equity
Period ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 27 April 2022 - - -
Profit for the period 52,001 52,001
_______ _______ _______
Total comprehensive income for the period - 52,001 52,001
Issue of shares 100 100
Dividends paid and payable ( 38,500) ( 38,500)
_______ _______ _______
Total investments by and distributions to owners 100 ( 38,500) ( 38,400)
_______ _______ _______
At 31 March 2023 100 13,501 13,601
_______ _______ _______
BRAAT Drylining Ltd
Notes to the financial statements
Period ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 Kestrel Grove, Caddington, Luton, LU1 4FT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles - 25 % reducing balance
Computer equipment - 33.3 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2
5. Tangible assets
Motor vehicles Computer equipment Total
£ £ £
Cost
At 27 April 2022 - - -
Additions 6,500 558 7,058
_______ _______ _______
At 31 March 2023 6,500 558 7,058
_______ _______ _______
Depreciation
At 27 April 2022 - - -
Charge for the year 948 77 1,025
_______ _______ _______
At 31 March 2023 948 77 1,025
_______ _______ _______
Carrying amount
At 31 March 2023 5,552 481 6,033
_______ _______ _______
6. Debtors
31/03/23
£
Trade debtors 1,640
Other debtors 16,480
_______
18,120
_______
7. Creditors: amounts falling due within one year
31/03/23
£
Corporation tax 11,115
Other creditors 1,118
_______
12,233
_______
8. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/03/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Robert Hardiman - ( 30) ( 30)
_______ _______ _______