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REGISTERED NUMBER: 09252745 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

BRIC INTERIORS LTD

BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BRIC INTERIORS LTD

COMPANY INFORMATION
for the year ended 31 October 2023







DIRECTOR: Mrs B Taylor



REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU



BUSINESS ADDRESS: 15 Howe St
Edinburgh
EH3 6TE



REGISTERED NUMBER: 09252745 (England and Wales)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Barclays Bank plc
Edinburgh Banking Centre
1 St Andrews Square
Edinburgh
EH2 2BD



SOLICITORS: Gillespie Macandrew LLP
5 Atholl Crescent
Edinburgh
EH3 8EJ

BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,400 2,700
Tangible assets 5 87,888 104,733
90,288 107,433

CURRENT ASSETS
Stocks 27,457 7,979
Debtors 6 22,501 17,674
Cash at bank 110,339 30,290
160,297 55,943
CREDITORS
Amounts falling due within one year 7 139,872 84,489
NET CURRENT ASSETS/(LIABILITIES) 20,425 (28,546 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,713

78,887

CREDITORS
Amounts falling due after more than one year 8 (30,161 ) (33,618 )

PROVISIONS FOR LIABILITIES (15,878 ) (14,912 )
NET ASSETS 64,674 30,357

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 64,672 30,355
64,674 30,357

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

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

The director acknowledges her 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.

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 31 July 2024 and were signed by:



Mrs B Taylor - Director


BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2023


1. STATUTORY INFORMATION

Bric Interiors 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.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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.

The company has failed to trade profitably. The director will continue to support the company until sufficient profitability is achieved and on this basis considers it appropriate to prepare the accounts on a going concern basis.

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

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

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 material 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 ) .

BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 3,000
AMORTISATION
At 1 November 2022 300
Charge for year 300
At 31 October 2023 600
NET BOOK VALUE
At 31 October 2023 2,400
At 31 October 2022 2,700

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 28,123 89,103 42,483 159,709
Additions - 6,198 - 6,198
At 31 October 2023 28,123 95,301 42,483 165,907
DEPRECIATION
At 1 November 2022 1,873 31,540 21,563 54,976
Charge for year 1,873 15,940 5,230 23,043
At 31 October 2023 3,746 47,480 26,793 78,019
NET BOOK VALUE
At 31 October 2023 24,377 47,821 15,690 87,888
At 31 October 2022 26,250 57,563 20,920 104,733

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,953 7,803
Other debtors 20,548 9,871
22,501 17,674

BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 20,693 27,354
Taxation and social security 27,550 8,537
Other creditors 81,629 38,598
139,872 84,489

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,161 33,618

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 30,161 33,618

9. OTHER FINANCIAL COMMITMENTS

At 31 October 2023, the company had an annual lease commitment for the property 15 Howe Street, Edinburgh, EH3 6TE amounting to £17,500.

10. BOUNCE BACK LOAN SCHEME

The company borrowed £50,000 under the Governments Bounce Back Loan Scheme. Under the scheme the Government provides the bank with a guarantee that the loan will be repaid in full. Interest is charged at the rate of 2.5% and the loan is repayable by installments as detailed below.



2023 2022
£    £   
< 1 year 10,000 10,000
2-5 years 30,161 33,618
5 years - -
40,161 43,618