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Registration number: 00851776

B.R. Ainsworth (Southern) Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

B.R. Ainsworth (Southern) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

B.R. Ainsworth (Southern) Limited

Company Information

Directors

Mrs WR Burden

Mrs LA Beardsmore

Registered office

Camelot
Armstrong Road
Brockenhurst
Hampshire
SO42 7TA

Accountants

Pyatt & Pyatt
Chartered Certified Accountants
36 St Thomas Street
Lymington
Hampshire
SO41 9NE

 

B.R. Ainsworth (Southern) Limited

(Registration number: 00851776)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,106,641

1,106,641

Current assets

 

Debtors

1,988

1,988

Cash at bank and in hand

 

143,268

182,228

 

145,256

184,216

Prepayments and accrued income

 

207

129

Creditors: Amounts falling due within one year

(31,393)

(35,769)

Net current assets

 

114,070

148,576

Total assets less current liabilities

 

1,220,711

1,255,217

Accruals and deferred income

 

(800)

(9,217)

Net assets

 

1,219,911

1,246,000

Capital and reserves

 

Called up share capital

5

55

55

Capital redemption reserve

50

50

Revaluation reserve

226,943

226,943

Retained earnings

992,863

1,018,952

Shareholders' funds

 

1,219,911

1,246,000

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

B.R. Ainsworth (Southern) Limited

(Registration number: 00851776)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 19 April 2024 and signed on its behalf by:
 

.........................................
Mrs WR Burden
Director

.........................................
Mrs LA Beardsmore
Director

 
     
 

B.R. Ainsworth (Southern) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Camelot
Armstrong Road
Brockenhurst
Hampshire
SO42 7TA

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current 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.

 

B.R. Ainsworth (Southern) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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 only provided on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Asset class

Depreciation method and rate

Investment property

0% straight line

Office equipment

33.33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

B.R. Ainsworth (Southern) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

1,106,641

2,346

1,108,987

At 31 December 2023

1,106,641

2,346

1,108,987

Depreciation

At 1 January 2023

-

2,346

2,346

At 31 December 2023

-

2,346

2,346

Carrying amount

At 31 December 2023

1,106,641

-

1,106,641

At 31 December 2022

1,106,641

-

1,106,641

Included within the net book value of land and buildings above is £1,106,641 (2022 - £1,106,641) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.25 each

200

50

200

50

Ordinary A shares of £0.25 each

10

3

10

3

Ordinary B shares of £0.25 each

10

3

10

3

 

220

55

220

55

 

B.R. Ainsworth (Southern) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £215.00 (2022 - £180.00) per each Ordinary shares

 

43,000

 

36,000

Interim dividend of £Nil per each Ordinary A shares

 

-

 

-

Interim dividend of £Nil per each Ordinary B shares

 

-

 

-

   

43,000

 

36,000

7

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

19,080

19,080