Registered number
08474182
Britannia Reeds Limited
Filleted Accounts
31 May 2023
Britannia Reeds Limited
Registered number: 08474182
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 2,165 1,929
Current assets
Stocks 1,343 2,362
Debtors 5 171 795
Cash at bank and in hand 12,670 9,225
14,184 12,382
Creditors: amounts falling due within one year 6 (11,422) (12,967)
Net current assets/(liabilities) 2,762 (585)
Net assets 4,927 1,344
Capital and reserves
Called up share capital 2 2
Profit and loss account 4,925 1,342
Shareholders' funds 4,927 1,344
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Lorraine Blyth
Director
Approved by the board on 11 October 2023
Britannia Reeds Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 60,000
At 31 May 2023 60,000
Amortisation
At 1 June 2022 60,000
At 31 May 2023 60,000
Net book value
At 31 May 2023 -
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 4,823
Additions 1,500
At 31 May 2023 6,323
Depreciation
At 1 June 2022 2,894
Charge for the year 1,264
At 31 May 2023 4,158
Net book value
At 31 May 2023 2,165
At 31 May 2022 1,929
5 Debtors 2023 2022
£ £
Trade debtors 171 795
6 Creditors: amounts falling due within one year 2023 2022
£ £
Lorraine Blyth-Director's Loan a/c 644 1,913
Damian Brassington-Director's Loan a/c 5,736 5,628
Corporation tax 4,069 4,453
Other creditors 973 973
11,422 12,967
7 Related party transactions
The company is controlled by its directors, who are also equal shareholders. Damian Brasington received a salary from the company of £9,096 (2022: £8,881) plus a dividend of £2,000 (2022: £4,000). At the year end the company owed him £5,736 (2021: £5,628). Lorraine Blyth received a salary from the company of £9,096 (2022: £8,881) plus dividends of £12,000 (2022: £23,000). At the year end the company owed her £644 (2022: £1,913).
8 Controlling party
There is no controlling party in the company.
9 Other information
Britannia Reeds Limited is a private company limited by shares and incorporated in England. Its registered office is:
69 Loughborough Road
West Bridgford
Nottingham
NG2 7LA
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