Brizi Limited 10141363 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of product development. Digita Accounts Production Advanced 6.30.9574.0 true true 10141363 2022-04-01 2023-03-31 10141363 2023-03-31 10141363 core:CurrentFinancialInstruments 2023-03-31 10141363 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10141363 bus:SmallEntities 2022-04-01 2023-03-31 10141363 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10141363 bus:FullAccounts 2022-04-01 2023-03-31 10141363 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10141363 bus:RegisteredOffice 2022-04-01 2023-03-31 10141363 bus:Director1 2022-04-01 2023-03-31 10141363 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10141363 countries:EnglandWales 2022-04-01 2023-03-31 10141363 2021-04-01 2022-03-31 10141363 2022-03-31 10141363 core:CurrentFinancialInstruments 2022-03-31 10141363 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 10141363

Brizi Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Brizi Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 4

 

Brizi Limited

Company Information

Director

Y Romano

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
W1D 5AR

 

Brizi Limited

Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

1,845

2,222

Cash at bank and in hand

 

1,239

382

 

3,084

2,604

Creditors: Amounts falling due within one year

5

(152,227)

(147,436)

Net liabilities

 

(149,143)

(144,832)

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

177,914

177,914

Retained earnings

(328,057)

(323,746)

Shareholders' deficit

 

(149,143)

(144,832)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 24 October 2023
 

.........................................

Y Romano

Director

Company registration number: 10141363

 

Brizi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of product development.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company had a deficiency of net assets of £149,143 as at 31 March 2023.

During the year the company continued to develop a prototype product, with further progress being made since the year end. The director anticipates that manufacturing will be completed within the next 12 months and that sales will commence shortly afterwards. The director is confident in the company’s relationships with suppliers, distributors and retailers, and expects this to facilitate the profitable operation of the company once sales have begun.

The company primarily funds its working capital requirements through loans from the director, which amounted to £127,178 at the year end.

The company is also actively seeking external investment and the director is confident that this will be received once the product is ready for manufacture.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also
recognised directly in other comprehensive income.

 

Brizi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Research and development costs

Research and development expenditure is written off as incurred, except that distinguishable development expenditure incurred on an individual project is capitalised as an intangible asset when the company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the asset and the ability to measure reliably the expenditure during development.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

4

Debtors

2023
£

2022
£

Other debtors

1,845

2,222

1,845

2,222

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

22,049

21,308

Other creditors

130,178

126,128

152,227

147,436