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REGISTERED NUMBER: 03657970 (England and Wales)


Brothers Enterprises Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2023






Brothers Enterprises Limited (Registered number: 03657970)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Brothers Enterprises Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: Mr C Kuccuk





REGISTERED OFFICE: 239-241 Kennington Lane
London
SE11 5QU





REGISTERED NUMBER: 03657970 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Brothers Enterprises Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brothers Enterprises Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Brothers Enterprises Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Brothers Enterprises Limited and state those matters that we have agreed to state to the director of Brothers Enterprises Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brothers Enterprises Limited and its director for our work or for this report.

It is your duty to ensure that Brothers Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Brothers Enterprises Limited. You consider that Brothers Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Brothers Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


28 March 2024

Brothers Enterprises Limited (Registered number: 03657970)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 696,543 736,665
Investment property 6 1,225,000 1,225,000
1,921,543 1,961,665

CURRENT ASSETS
Inventories 7 29,314 12,782
Debtors 8 1,508,501 1,117,381
Cash at bank and in hand 347,688 123,847
1,885,503 1,254,010
CREDITORS
Amounts falling due within one year 9 631,962 440,440
NET CURRENT ASSETS 1,253,541 813,570
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,175,084

2,775,235

CREDITORS
Amounts falling due after more than one
year

10

(214,719

)

(283,014

)

PROVISIONS FOR LIABILITIES 12 (190,281 ) (180,750 )
NET ASSETS 2,770,084 2,311,471

Brothers Enterprises Limited (Registered number: 03657970)

Statement of Financial Position - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 100 100
Non-distributable reserves 14 763,961 763,961
Retained earnings 14 2,006,023 1,547,410
SHAREHOLDERS' FUNDS 2,770,084 2,311,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





Mr C Kuccuk - Director


Brothers Enterprises Limited (Registered number: 03657970)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Brothers Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from ordinary activities of the business and is recognised when the customer takes delivery of the order.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of eleven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Long leasehold - straight line over the life of the lease
Improvements to property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined on first in first out basis. Net realisable value is the amount to be realised from sale of stock less any cost to sell.

Brothers Enterprises Limited (Registered number: 03657970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - 27 ) .

Brothers Enterprises Limited (Registered number: 03657970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 815,000
AMORTISATION
At 1 April 2022
and 31 March 2023 815,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 494,366 1,076,335 1,570,701
Additions - 53,418 53,418
Disposals - (11,630 ) (11,630 )
At 31 March 2023 494,366 1,118,123 1,612,489
DEPRECIATION
At 1 April 2022 107,434 726,602 834,036
Charge for year 7,058 68,128 75,186
Eliminated on disposal - 6,724 6,724
At 31 March 2023 114,492 801,454 915,946
NET BOOK VALUE
At 31 March 2023 379,874 316,669 696,543
At 31 March 2022 386,932 349,733 736,665

Brothers Enterprises Limited (Registered number: 03657970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,225,000
NET BOOK VALUE
At 31 March 2023 1,225,000
At 31 March 2022 1,225,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 909,076
Cost 315,924
1,225,000

Company director, as required by FRS 102, undertook to remeasure all investment properties to fair values at reporting date. They have assessed the fair values based on the properties of the similar in nature and in the surrounding areas where these properties are located. Based on the information gathered from justifiable sources, it was concluded that there were no significant movement in the market price and values to be equal to net book value at balance sheet date.

7. INVENTORIES
2023 2022
£    £   
Stocks 29,314 12,782

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,923 4,376
Other debtors 1,498,578 1,113,005
1,508,501 1,117,381

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,171 56,293
Trade creditors 261,096 145,764
Taxation and social security 252,248 160,780
Other creditors 86,447 77,603
631,962 440,440

Brothers Enterprises Limited (Registered number: 03657970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 214,719 240,544
Other creditors - 42,470
214,719 283,014

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 129,599

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 241,111 287,722

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 190,281 180,750

Deferred
tax
£   
Balance at 1 April 2022 180,750
Charge to Income Statement during year 9,531
Balance at 31 March 2023 190,281

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Brothers Enterprises Limited (Registered number: 03657970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

14. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 April 2022 1,547,410 763,961 2,311,371
Profit for the year 458,613 458,613
At 31 March 2023 2,006,023 763,961 2,769,984

15. RELATED PARTY DISCLOSURES

Transactions with member of key management personnel:

1.At balance sheet date, company owes £1,872 (2022:£35,176) to related party. An interest -free loan is payable on demand and presented within creditors' note.

Transactions with entities with common and joint control:

1.At balance sheet date, the amount due from related parties is £1,003,469 (2022:£616,605). Companies owned and controlled by the director. An interest -free loan repayable on demand and presented within debtors' note.

2.At balance sheet date, the amount due from related party is £124,320 (2022:£135,854). Company owned and controlled by th participator. An Interest- free loan repayable on demand and presented within debtors' note.