Company registration number 05346051 (England and Wales)
TOM BROWN BUILDERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
TOM BROWN BUILDERS LIMITED
BALANCE SHEET
AS AT
26 FEBRUARY 2023
26 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,067
5,423
Current assets
Stock and work in progress
33,250
2,200
Debtors
4
34,014
35,259
Cash at bank and in hand
86,674
163,671
153,938
201,130
Creditors: amounts falling due within one year
5
(22,320)
(53,498)
Net current assets
131,618
147,632
Total assets less current liabilities
135,685
153,055
Provisions for liabilities
(1,017)
(1,030)
Net assets
134,668
152,025
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
134,568
151,925
Total equity
134,668
152,025

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 26 February 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 23 February 2024
Mr T F Brown
Director
Company registration number 05346051 (England and Wales)
TOM BROWN BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

Tom Brown Builders Limited is a private company limited by shares incorporated in England and Wales. The registered office is 72 Main Road, Radcliffe-on-Trent, Nottingham, NG12 2BP.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

1.3
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:

Plant and equipment
25% per annum reducing balance
Motor vehicles
25% per annum reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Taxation

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

TOM BROWN BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 26 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
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.

 

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

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

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 27 February 2022 and 26 February 2023
1,465
9,148
10,613
Depreciation and impairment
At 27 February 2022
678
4,512
5,190
Depreciation charged in the year
197
1,159
1,356
At 26 February 2023
875
5,671
6,546
Carrying amount
At 26 February 2023
590
3,477
4,067
At 26 February 2022
787
4,636
5,423
TOM BROWN BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 26 FEBRUARY 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
33,831
35,076
Other debtors
183
183
34,014
35,259
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,446
41,462
Corporation tax
642
1,344
Other taxation and social security
8,628
7,086
Other creditors
4,604
3,606
22,320
53,498
6
Controlling Party

The company is controlled by Mr T F Brown.

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