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 |
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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 |