Brian Belshaw Ltd 03899335 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is sales and installation of flat roofing and other property improvement and maintenance services. Digita Accounts Production Advanced 6.30.9574.0 true 03899335 2022-03-01 2023-02-28 03899335 2023-02-28 03899335 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-28 03899335 core:RetainedEarningsAccumulatedLosses 2023-02-28 03899335 core:ShareCapital 2023-02-28 03899335 core:CurrentFinancialInstruments 2023-02-28 03899335 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 03899335 core:Non-currentFinancialInstruments 2023-02-28 03899335 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 03899335 core:Goodwill 2023-02-28 03899335 core:FurnitureFittingsToolsEquipment 2023-02-28 03899335 core:MotorVehicles 2023-02-28 03899335 core:OtherPropertyPlantEquipment 2023-02-28 03899335 bus:SmallEntities 2022-03-01 2023-02-28 03899335 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 03899335 bus:FullAccounts 2022-03-01 2023-02-28 03899335 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 03899335 bus:RegisteredOffice 2022-03-01 2023-02-28 03899335 bus:Director1 2022-03-01 2023-02-28 03899335 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-03-01 2023-02-28 03899335 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03899335 core:Goodwill 2022-03-01 2023-02-28 03899335 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 03899335 core:MotorVehicles 2022-03-01 2023-02-28 03899335 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 03899335 core:PlantMachinery 2022-03-01 2023-02-28 03899335 countries:EnglandWales 2022-03-01 2023-02-28 03899335 2022-02-28 03899335 core:Goodwill 2022-02-28 03899335 core:FurnitureFittingsToolsEquipment 2022-02-28 03899335 core:MotorVehicles 2022-02-28 03899335 core:OtherPropertyPlantEquipment 2022-02-28 03899335 2021-03-01 2022-02-28 03899335 2022-02-28 03899335 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-02-28 03899335 core:RetainedEarningsAccumulatedLosses 2022-02-28 03899335 core:ShareCapital 2022-02-28 03899335 core:CurrentFinancialInstruments 2022-02-28 03899335 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 03899335 core:Non-currentFinancialInstruments 2022-02-28 03899335 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 03899335 core:FurnitureFittingsToolsEquipment 2022-02-28 03899335 core:MotorVehicles 2022-02-28 03899335 core:OtherPropertyPlantEquipment 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03899335

Brian Belshaw Ltd

trading as Freedom Home Improvements

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Registration number: 03899335

Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

6,223

6,568

Current assets

 

Stocks

7

3,000

8,250

Debtors

8

14,024

6,845

Cash at bank and in hand

 

13,465

30,706

 

30,489

45,801

Creditors: Amounts falling due within one year

9

(22,690)

(28,784)

Net current assets

 

7,799

17,017

Total assets less current liabilities

 

14,022

23,585

Creditors: Amounts falling due after more than one year

9

(12,343)

(20,873)

Provisions for liabilities

(1,182)

(1,248)

Net assets

 

497

1,464

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

397

1,364

Total equity

 

497

1,464



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Registration number: 03899335

Balance Sheet as at 28 February 2023 (continued)

For the financial year ending 28 February 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 November 2023
 


B M Belshaw
Director

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
46 Fakenham Road
Lenwade
Norfolk
NR9 5SE
England

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss over the useful lives of the related assets, Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.

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.

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

Plant and machinery

10% reducing balance

Fixtures, fittings and equipment

10% reducing balance

Motor vehicles

20% reducing balance

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

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

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

966

949

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2022

18,000

18,000

At 28 February 2023

18,000

18,000

Amortisation

At 1 March 2022

18,000

18,000

At 28 February 2023

18,000

18,000

Carrying amount

At 28 February 2023

-

-

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

10,105

14,250

7,724

32,079

Additions

621

-

-

621

At 28 February 2023

10,726

14,250

7,724

32,700

Depreciation

At 1 March 2022

7,198

12,672

5,641

25,511

Charge for the year

442

316

208

966

At 28 February 2023

7,640

12,988

5,849

26,477

Carrying amount

At 28 February 2023

3,086

1,262

1,875

6,223

At 28 February 2022

2,907

1,578

2,083

6,568

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

7

Stocks

2023
£

2022
£

Raw materials and consumables

3,000

8,250

8

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

3,414

-

Director loan account

9,856

4,129

Prepayments

 

714

652

Other debtors

 

40

2,064

   

14,024

6,845


The amounts owed to the company at the year-end in respect of the director's loans is shown above. The loan was interest free, and it is company policy to charge interest on all overdrawn loan accounts at HM Revenue & Customs official rate of interest if greater than £10,000.

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

11

4,526

-

Trade creditors

 

9,204

19,515

Taxation and social security

 

7,196

5,830

Other creditors

 

1,764

3,439

 

22,690

28,784

Due after one year

 

Loans and borrowings

11

12,343

20,873

 

Brian Belshaw Ltd
trading as Freedom Home Improvements

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

12,343

20,873

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,526

-