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REGISTERED NUMBER: 09906537 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

On Brief Ltd

On Brief Ltd (Registered number: 09906537)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


On Brief Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D Quirk
M Cook





REGISTERED OFFICE: Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA





REGISTERED NUMBER: 09906537 (England and Wales)





ACCOUNTANTS: Atkinsons
Chartered Accountants
Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA

On Brief Ltd (Registered number: 09906537)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,401,707 1,678,373

CURRENT ASSETS
Debtors 5 - 282
Cash at bank 3,960 95,003
3,960 95,285
CREDITORS
Amounts falling due within one year 6 334,754 364,227
NET CURRENT LIABILITIES (330,794 ) (268,942 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,070,913

1,409,431

CREDITORS
Amounts falling due after more than one
year

7

(1,830,542

)

(1,336,714

)

PROVISIONS FOR LIABILITIES (104,697 ) (60,562 )
NET ASSETS 135,674 12,155

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 135,574 12,055
SHAREHOLDERS' FUNDS 135,674 12,155

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

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

The directors acknowledge their 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.

On Brief Ltd (Registered number: 09906537)

Balance Sheet - continued
31 December 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2024 and were signed on its behalf by:




M Cook - Director



D Quirk - Director


On Brief Ltd (Registered number: 09906537)

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

1. STATUTORY INFORMATION

On Brief Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% reducing balance

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

On Brief Ltd (Registered number: 09906537)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,678,373
Additions 491,042
Revaluations 232,292
At 31 December 2023 2,401,707
NET BOOK VALUE
At 31 December 2023 2,401,707
At 31 December 2022 1,678,373

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 153,236
Valuation in 2019 9,868
Valuation in 2020 106,799
Valuation in 2022 48,841
Valuation in 2023 232,292
Cost 1,850,671
2,401,707

The valuations shown above were made by the directors on an open market basis.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors - 282

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 3,948 14,191
Other creditors 330,806 350,036
334,754 364,227

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 1,830,542 1,336,714

8. RELATED PARTY DISCLOSURES

Included in other creditors is £318,893 (2022 - £338,815 which is owed to directors of the company. These loans are accruing interest at 2% p.a. and are repayable on demand.

No other transactions with related parties were undertaken such as are required to be disclosed under Section 1A Small Entities of Financial Reporting Standard 102.