Brigham's Limited 04379463 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of marine and industrial engineers Digita Accounts Production Advanced 6.30.9574.0 true 04379463 2022-04-01 2023-03-31 04379463 2023-03-31 04379463 core:RetainedEarningsAccumulatedLosses 2023-03-31 04379463 core:RevaluationReserve 2023-03-31 04379463 core:ShareCapital 2023-03-31 04379463 core:CurrentFinancialInstruments 2023-03-31 04379463 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04379463 core:Goodwill 2023-03-31 04379463 core:LandBuildings 2023-03-31 04379463 core:MotorVehicles 2023-03-31 04379463 core:OtherPropertyPlantEquipment 2023-03-31 04379463 bus:SmallEntities 2022-04-01 2023-03-31 04379463 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04379463 bus:FullAccounts 2022-04-01 2023-03-31 04379463 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04379463 bus:RegisteredOffice 2022-04-01 2023-03-31 04379463 bus:CompanySecretaryDirector2 2022-04-01 2023-03-31 04379463 bus:Director2 2022-04-01 2023-03-31 04379463 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04379463 core:Goodwill 2022-04-01 2023-03-31 04379463 core:LandBuildings 2022-04-01 2023-03-31 04379463 core:LeaseholdImprovements 2022-04-01 2023-03-31 04379463 core:MotorVehicles 2022-04-01 2023-03-31 04379463 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 04379463 core:PlantMachinery 2022-04-01 2023-03-31 04379463 countries:England 2022-04-01 2023-03-31 04379463 2022-03-31 04379463 core:Goodwill 2022-03-31 04379463 core:LandBuildings 2022-03-31 04379463 core:MotorVehicles 2022-03-31 04379463 core:OtherPropertyPlantEquipment 2022-03-31 04379463 2021-04-01 2022-03-31 04379463 2022-03-31 04379463 core:RetainedEarningsAccumulatedLosses 2022-03-31 04379463 core:RevaluationReserve 2022-03-31 04379463 core:ShareCapital 2022-03-31 04379463 core:CurrentFinancialInstruments 2022-03-31 04379463 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 04379463 core:LandBuildings 2022-03-31 04379463 core:MotorVehicles 2022-03-31 04379463 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 04379463

Brigham's Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Brigham's Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Brigham's Limited

Company Information

Directors

Mr M G Milton

Mr J E Milton

Company secretary

Mr M G Milton

Registered office

Hedon Road
KINGSTON UPON HULL
East Yorkshire
HU9 5LT

 

Brigham's Limited

(Registration number: 04379463)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

133,676

141,217

 

133,676

141,217

Current assets

 

Debtors

6

103,694

102,293

Cash at bank and in hand

 

160,394

30,052

 

264,088

132,345

Creditors: Amounts falling due within one year

7

(110,248)

(70,444)

Net current assets

 

153,840

61,901

Total assets less current liabilities

 

287,516

203,118

Provisions for liabilities

(837)

(1,478)

Net assets

 

286,679

201,640

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

28,213

28,213

Profit and loss account

258,366

173,327

Total equity

 

286,679

201,640

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.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised for issue by the Board on 7 November 2023 and signed on its behalf by:
 

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

Mr J E Milton
Director

 

Brigham's 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.

The address of its registered office is:
Hedon Road
KINGSTON UPON HULL
East Yorkshire
HU9 5LT

These financial statements were authorised for issue by the Board on 7 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Brigham's Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold building

Straight line over 43 years

Plant and machinery

15% reducing balance and 33% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Brigham's Limited

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

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

1

1

At 31 March 2023

1

1

Amortisation

At 1 April 2022

1

1

At 31 March 2023

1

1

Carrying amount

At 31 March 2023

-

-

 

Brigham's Limited

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

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

109,998

49,637

4,453

164,088

Additions

-

-

2,700

2,700

At 31 March 2023

109,998

49,637

7,153

166,788

Depreciation

At 1 April 2022

3,256

15,955

3,660

22,871

Charge for the year

1,628

8,420

193

10,241

At 31 March 2023

4,884

24,375

3,853

33,112

Carrying amount

At 31 March 2023

105,114

25,262

3,300

133,676

At 31 March 2022

106,742

33,682

793

141,217

Included within the net book value of land and buildings above is freehold land worth £40,000, that is not depreciated.
 

 

Brigham's Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

51,942

85,341

Prepayments

2,378

2,045

Other debtors

49,374

14,907

 

103,694

102,293

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,532

4,484

Taxation and social security

49,463

29,780

Accruals and deferred income

3,800

3,802

Other creditors

55,453

32,378

110,248

70,444