2022-04-012023-03-312023-03-31false11025669Brusby Surveyors 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Brusby Surveyors Limited

Registered Number
11025669
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Brusby Surveyors Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

A M Brusby
P J Hoggard

Registered Address

34 Lowerdale Elloughton
Brough
HU15 1SD

Registered Number

11025669 (England and Wales)
Brusby Surveyors Limited
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets710,79917,867
10,79917,867
Current assets
Stocks9-3,500
Debtors105,1231,700
Cash at bank and on hand9,1134,084
14,2369,284
Creditors amounts falling due within one year11(13,809)(9,295)
Net current assets (liabilities)427(11)
Total assets less current liabilities11,22617,856
Creditors amounts falling due after one year12(8,978)(13,966)
Provisions for liabilities14(2,052)(3,395)
Net assets196495
Capital and reserves
Called up share capital100100
Profit and loss account96395
Shareholders' funds196495
The financial statements were approved and authorised for issue by the Board of Directors on 18 October 2023, and are signed on its behalf by:
A M Brusby
Director
Registered Company No. 11025669
Brusby Surveyors 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.Principal activities
The principal activity of the company is building surveyors.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 and from the rendering of services.
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:

Straight line (years)
Plant and machinery4
Vehicles4
Office Equipment4
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
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.
Government grants and other government assistance policy
Grants relating to revenue are recognised in the profit and loss on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
6.Employee information

20232022
Average number of employees during the year22
7.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 227,44418,9955,66532,104
Additions--576576
At 31 March 237,44418,9956,24132,680
Depreciation and impairment
At 01 April 221,7909,1023,34514,237
Charge for year1,8614,7491,0347,644
At 31 March 233,65113,8514,37921,881
Net book value
At 31 March 233,7935,1441,86210,799
At 31 March 225,6549,8932,32017,867
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
A M Brusby162,54602,562
Interest fee loan
P J Hoggard162,54502,561
Interest fee loan
325,09105,123
9.Stocks

2023

2022

££
Work in progress-3,500
Total-3,500
10.Debtors

2023

2022

££
Trade debtors / trade receivables-1,700
Amounts owed by associates and joint ventures / participating interests5,123-
Total5,1231,700
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts4,9874,987
Amounts owed to related parties-32
Taxation and social security7,9963,191
Accrued liabilities and deferred income8261,085
Total13,8099,295
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. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £3,300 (2022 £3,300) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in May 2026. In addition to the bounce back loan is a fixed sum loan which is interest free totalling £1,687 (2022 £1,687). The final installment is due in April 2025. The overall carrying value of the loans as at the year-end is £13,965 (2022 £18,953).
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts8,97813,966
Total8,97813,966
Long 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. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £7,150 (2022 £10,450) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in May 2026. In addition to the bounce back loan is a fixed sum loan which is interest free totalling £1,828 (2022 £3,516). The final installment is due in April 2025. The overall carrying value of the loans as at the year-end is £13,965 (2022 £18,953).
13.Finance lease and HP contracts after one year
14.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,0523,395
Total2,0523,395