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COMPANY REGISTRATION NUMBER: 04450419
BREBUR LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2023
BREBUR LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 5
BREBUR LIMITED
BALANCE SHEET
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
84,413
67,317
Current assets
Debtors
6
3,498,386
2,034,202
Cash at bank and in hand
714,258
1,662,321
------------
------------
4,212,644
3,696,523
Creditors: amounts falling due within one year
7
( 1,687,293)
( 1,240,388)
------------
------------
Net current assets
2,525,351
2,456,135
------------
------------
Total assets less current liabilities
2,609,764
2,523,452
Provisions
8
( 21,103)
( 16,829)
------------
------------
Net assets
2,588,661
2,506,623
------------
------------
Capital and reserves
Called up share capital
10
44
44
Profit and loss account
2,588,617
2,506,579
------------
------------
Shareholders funds
2,588,661
2,506,623
------------
------------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 April 2024 , and are signed on behalf of the board by:
J M Brenton
Director
Company registration number: 04450419
BREBUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Capitol Close, Dodworth, Barnsley, South Yorkshire, S75 3UB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
3 and 5 years straight line
Motor vehicles
-
3 years straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants in respect of revenue expenditure are credited to the profit and loss account in the same period as the related expenditure.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2022: 30 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 June 2022
89,492
359,919
449,411
Additions
6,119
52,000
58,119
Disposals
( 10,695)
( 10,695)
------------
------------
------------
At 31 May 2023
95,611
401,224
496,835
------------
------------
------------
Depreciation
At 1 June 2022
56,216
325,878
382,094
Charge for the year
16,849
24,175
41,024
Disposals
( 10,696)
( 10,696)
------------
------------
------------
At 31 May 2023
73,065
339,357
412,422
------------
------------
------------
Carrying amount
At 31 May 2023
22,546
61,867
84,413
------------
------------
------------
At 31 May 2022
33,276
34,041
67,317
------------
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
1,157,858
1,134,433
Amounts owed by group undertakings
404,511
405,291
Prepayments and accrued income
29,067
44,845
Amounts owed by related undertakings
1,820,435
346,204
Other debtors
86,515
103,429
------------
------------
3,498,386
2,034,202
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,037,452
1,042,375
Amounts owed to related undertakings
505,282
Accruals and deferred income
20,046
38,068
Corporation tax
47,277
63,355
Social security and other taxes
63,265
81,070
Other creditors
13,971
15,520
------------
------------
1,687,293
1,240,388
------------
------------
8. Provisions
Deferred tax (note 9)
£
At 1 June 2022
16,829
Additions
4,274
------------
At 31 May 2023
21,103
------------
9. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions (note 8)
21,103
16,829
------------
------------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
44
44
44
44
------------
------------
------------
------------
11. Related party transactions
Included in debtors above are loans to the following companies:- Brebur Services Limited, the parent company, of £404,511 (2022: £405,291)and TP Fairfield Limited of £1,820,435 (2022: £346,204), companies controlled by J M Brenton and T Burke. These loans are unsecured, repayable on demand, and currently interest free. Included in creditors above is a loan from Thomas Peterson Limited of £505,282 (2022: £nil) a company controlled by J M Brenton and T Burke. This loan is unsecured, repayable on demand, and currently interest free.
12. Ultimate controlling party
The company is a wholly-owned subsidiary of Brebur Services Limited, a company registered in England, whose registered office address is Unit 1, Capitol Close, Dodworth, Barnsley, S75 3UB. There is no one controlling party of this company.