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Registration number: 03258868

Brighton and Hove Streamline Limited

Filleted Financial Statements

for the Year Ended 31 October 2023

 

Brighton and Hove Streamline Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 12

 

Brighton and Hove Streamline Limited

Company Information

Chairman

Mr A G Mechaeil

Directors

Mr A A Knight

Mr J C Howell

Mr J R Cheeseman

Mr A Peters

Registered office

5 Clifton Hill
Brighton
East Sussex
BN1 3HL

Auditors

Durston Gibb
Chartered Accountants
1 Blatchington Road
Hove
East Sussex
BN3 3YP

 

Brighton and Hove Streamline Limited

(Registration number: 03258868)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

19,714

20,854

Investments

5

4,000

4,000

Other financial assets

6

9,617

-

 

33,331

24,854

Current assets

 

Stocks

7

286

598

Debtors

8

453,442

448,862

Cash at bank and in hand

 

330

105

 

454,058

449,565

Creditors: Amounts falling due within one year

9

(235,599)

(253,334)

Net current assets

 

218,459

196,231

Total assets less current liabilities

 

251,790

221,085

Creditors: Amounts falling due after more than one year

9

(16,863)

(26,507)

Net assets

 

234,927

194,578

Capital and reserves

 

Called up share capital

10

1,000

1,000

Profit and loss account

233,927

193,578

Shareholders' funds

 

234,927

194,578

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.

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.

Approved and authorised by the Board on 8 April 2024 and signed on its behalf by:
 

 

Brighton and Hove Streamline Limited

(Registration number: 03258868)
Balance Sheet as at 31 October 2023

.........................................

Mr J C Howell
Director

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
5 Clifton Hill
Brighton
East Sussex
BN1 3HL

These financial statements were authorised for issue by the Board on 8 April 2024.

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 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 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.

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 8 April 2024 was Richard D Gibb, who signed for and on behalf of Durston Gibb.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for subscriptions for membership services provided in the ordinary course of the company’s activities. Turnover is shown net of value added tax and discounts. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

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 charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on cost

Fixtures and fittings

25% reducing balance

Office equipment

25% on cost

Motor vehicles

25% reducing balance

Investments

The fixed asset investments are stated at cost less any provision for impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

Trade debtors

Trade debtors are amounts due from customers for 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2022 - 33).

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 November 2022

23,014

36,347

97,050

14,750

Additions

1,409

-

5,329

8,645

Disposals

-

-

(12,683)

(6,750)

At 31 October 2023

24,423

36,347

89,696

16,645

Depreciation

At 1 November 2022

20,185

35,718

87,256

7,148

Charge for the year

1,060

624

1,848

3,661

Eliminated on disposal

-

-

(4,955)

(5,148)

At 31 October 2023

21,245

36,342

84,149

5,661

Carrying amount

At 31 October 2023

3,178

5

5,547

10,984

At 31 October 2022

2,829

629

9,794

7,602

Total
£

Cost or valuation

At 1 November 2022

171,161

Additions

15,383

Disposals

(19,433)

At 31 October 2023

167,111

Depreciation

At 1 November 2022

150,307

Charge for the year

7,193

Eliminated on disposal

(10,103)

At 31 October 2023

147,397

Carrying amount

At 31 October 2023

19,714

At 31 October 2022

20,854

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

5

Investments

2023
£

2022
£

Investments

4,000

4,000

The investments are stated at cost because the Directors are of the opinion that the value of the investments does not differ significantly from cost.

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

9,617

9,617

At 31 October 2023

9,617

9,617

Impairment

Carrying amount

At 31 October 2023

9,617

9,617

7

Stocks

2023
£

2022
£

Other inventories

286

598

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

8

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

218,029

219,270

Amounts owed by related parties

167,889

173,038

Prepayments

 

23,041

30,614

Other debtors

 

44,483

25,940

   

453,442

448,862

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

41,570

58,278

Trade creditors

 

29,836

55,209

Taxation and social security

 

49,621

28,251

Accruals and deferred income

 

86,173

78,623

Other creditors

 

28,399

32,973

 

235,599

253,334


Included in current liabilties is an overdraft of £32,148 (2022: £49,078). The company has an overdraft facility of £140,000 (2022: £140,000). The overdraft is subject to a Debenture which includes all liabilities to the bank, both present and future and is secured by a fixed and floating charge over all of the assets of the company. The overdraft is also cross guaranteed by the parent company by a legal charge over the freehold property.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

16,863

26,507

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

16,863

26,507

Current loans and borrowings

2023
£

2022
£

Bank borrowings

9,422

9,200

Bank overdrafts

32,148

49,078

41,570

58,278

12

Parent and ultimate parent undertaking

The company's immediate parent is Brighton & Hove Streamline Taxis Limited, incorporated in England and Wales.

  These financial statements are available upon request from 5 Clifton Hill, Brighton, East Sussex, BN1 3HL

 

 

Brighton and Hove Streamline Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

13

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

69

69

Later than one year and not later than five years

108,148

171,296

108,217

171,365

The amount of non-cancellable operating lease payments recognised as an expense during the year was £63,462 (2022 - £63,462).