Brian Limited
Unaudited Financial Statements
For the year ended 31 May 2023
Pages for Filing with Registrar
Company Registration No. 09582617 (England and Wales)
Brian Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Brian Limited
Balance Sheet
As at 31 May 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,580
2,121
Current assets
Debtors
4
36,098
-
0
Cash at bank and in hand
1,445,755
1,399,634
1,481,853
1,399,634
Creditors: amounts falling due within one year
5
(96,910)
(16,200)
Net current assets
1,384,943
1,383,434
Net assets
1,386,523
1,385,555
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
1,386,522
1,385,554
Total equity
1,386,523
1,385,555

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 21 February 2024
D Wilson
Director
Company Registration No. 09582617
Brian Limited
Notes to the Financial Statements
For the year ended 31 May 2023
Page 2
1
Accounting policies
Company information

Brian Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

The Company made a profit for the year after taxation of £60,968 (2022: Loss of £32,779) and had net assets as at 31 May 2023 of £1,386,523 (2022: £1,385,555). These financial statements are prepared on the going concern basis. The director believes that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25 % Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Brian Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
1
Accounting policies
(Continued)
Page 3
1.7
Financial instruments

The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.10
Taxation

The tax expense represents the sum of the tax currently payable tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Brian Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
Page 4
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022
4,166
Disposals
(2,000)
At 31 May 2023
2,166
Depreciation and impairment
At 1 June 2022
2,045
Depreciation charged in the year
541
Eliminated in respect of disposals
(2,000)
At 31 May 2023
586
Carrying amount
At 31 May 2023
1,580
At 31 May 2022
2,121
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
36,098
-
0
Brian Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
Page 5
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,582
1,782
Corporation tax
4,989
-
0
Other taxation and social security
6,515
682
Other creditors
74,174
10,236
Accruals and deferred income
5,650
3,500
96,910
16,200
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
Brian Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
Page 6
7
Related party transactions

D. Wilson is the ultimate controlling party by virtue of his majority shareholding in the company.

 

As at the year end £74,174 (2022: £10,236) was owed to D Wilson. This amount is included in other creditors.

 

During the year, the company paid dividends of £60,000 to D Wilson (2022: £70,000).

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