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Registered Number: 02077839
England and Wales

 

 

 

BRIGTECH LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 185,658    131,688 
Investments 5 49    49 
185,707    131,737 
Current assets      
Stocks 6 163,729    94,893 
Debtors 7 1,061,087    956,375 
Cash at bank and in hand 249,633    518,054 
1,474,449    1,569,322 
Creditors: amount falling due within one year 8 (244,510)   (311,981)
Net current assets 1,229,939    1,257,341 
 
Total assets less current liabilities 1,415,646    1,389,078 
Provisions for liabilities 9 (18,290)   (20,335)
Net assets 1,397,356    1,368,743 
 

Capital and reserves
     
Called up share capital 50    50 
Capital Redemption Reserve 10 50    50 
Profit and loss account 1,397,256    1,368,643 
Shareholder's funds 1,397,356    1,368,743 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 November 2023 and were signed on its behalf by:


-------------------------------
S J Buckland
Director
1
General Information
Brigtech Limited is a private company, limited by shares, registered in England and Wales, registration number 02077839, registration address Merlin House Brunel Road, Theale, Reading, Berkshire, RG7 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract as only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.
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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvement to Property - 4% Straight line method
Plant & Machinery - 20% Straight line method
Fixtures & fittings - 20% Straight line method
Motor Vehicle - 25% Straight line method
Computer equipment - 20% Straight line method
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount.
If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 14 (2022 : 14).
3.

Intangible fixed assets

Cost Patents   Total
  £   £
At 01 July 2022 253,100    253,100 
Additions  
Disposals  
At 30 June 2023 253,100    253,100 
Amortisation
At 01 July 2022 253,100    253,100 
Charge for year  
On disposals  
At 30 June 2023 253,100    253,100 
Net book values
At 30 June 2023  
At 30 June 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £   £
At 01 July 2022 221,322    439,905    11,026    63,380    4,783    740,416 
Additions 20,947    123,469    525    5,037      149,978 
Disposals   (37,259)         (37,259)
At 30 June 2023 242,269    526,115    11,551    68,417    4,783    853,135 
Depreciation
At 01 July 2022 215,519    317,926    11,026    59,474    4,783    608,728 
Charge for year 4,348    89,573    96    1,991      96,008 
On disposals   (37,259)         (37,259)
At 30 June 2023 219,867    370,240    11,122    61,465    4,783    667,477 
Net book values
Closing balance as at 30 June 2023 22,402    155,875    429    6,952      185,658 
Opening balance as at 01 July 2022 5,803    121,979      3,906      131,688 


5.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 July 2022 49    49 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 June 2023 49    49 

6.

Stocks

2023
£
  2022
£
Stocks 163,729    94,893 
163,729    94,893 

7.

Debtors: amounts falling due within one year

2023
£
  2022
£
Amount Owed by Group Undertakings 631,936    636,936 
Prepayments & Accrued Income 363,059    231,968 
Other Debtors   33,560 
VAT 66,092    53,911 
1,061,087    956,375 

8.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 86,758    71,975 
Corporation Tax 23,500    61,890 
PAYE & Social Security 14,938    24,386 
Accrued Expenses 118,285    139,557 
Other Creditors 1,029    14,173 
244,510    311,981 

9.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 18,290    20,335 
18,290    20,335 

10.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 50    50 
50    50 

11.

Ultimate Controlling Party

The company is a wholly owned subsidiary of Buckland Civil Engineering Ltd. The ultimate controlling party is Mr S J Buckland.
2