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Company registration number: 12353671
Bricz Supply Chain Ltd
Unaudited filleted financial statements
31 December 2023
Bricz Supply Chain Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Bricz Supply Chain Ltd
Directors and other information
Directors Mr Ramachandran Gopalakrishnan
Michael Mccloy (Resigned 1 October 2023)
Mr Akshay Nathalal Shah (Appointed 1 October 2023)
Company number 12353671
Registered office 2 Whittle Court
Knowlhill
Milton Keynes
Buckinghamshire, England
MK5 8FT
Accountants ACE Accounts & Tax Limited
2 Whittle Court
Knowlhill
Milton Keynes
MK5 8FT
Bricz Supply Chain Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Bricz Supply Chain Ltd
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
ACE Accounts & Tax Limited
Chartered Certified Accountants
2 Whittle Court
Knowlhill
Milton Keynes
MK5 8FT
2 August 2024
Bricz Supply Chain Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 10,307 12,187
_______ _______
10,307 12,187
Current assets
Debtors 6 81,827 116,660
Cash at bank and in hand 88,162 43,396
_______ _______
169,989 160,056
Creditors: amounts falling due
within one year 7 ( 148,715) ( 192,978)
_______ _______
Net current assets/(liabilities) 21,274 ( 32,922)
_______ _______
Total assets less current liabilities 31,581 ( 20,735)
_______ _______
Net assets/(liabilities) 31,581 ( 20,735)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 31,481 ( 20,835)
_______ _______
Shareholders funds/(deficit) 31,581 ( 20,735)
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 August 2024 , and are signed on behalf of the board by:
Mr Ramachandran Gopalakrishnan
Director
Company registration number: 12353671
Bricz Supply Chain Ltd
Statement of changes in equity
Year ended 31 December 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2021 100 ( 74,010) ( 73,910)
Profit for the year 53,175 53,175
_______ _______ _______
Total comprehensive income for the year - 53,175 53,175
_______ _______ _______
At 31 December 2022 and 1 January 2023 100 ( 20,835) ( 20,735)
Profit for the year 52,316 52,316
_______ _______ _______
Total comprehensive income for the year - 52,316 52,316
_______ _______ _______
At 31 December 2023 100 31,481 31,581
_______ _______ _______
Bricz Supply Chain Ltd
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 2 Whittle Court, Knowlhill, Milton Keynes, Buckinghamshire, England, MK5 8FT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Staff costs
The average number of persons employed by the company during the year amounted to 9 (2022: 12 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 891,218 783,280
Social security costs 109,550 92,953
Other pension costs 45,630 26,395
_______ _______
1,046,398 902,628
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 16,814 16,814
Additions 2,891 2,891
_______ _______
At 31 December 2023 19,705 19,705
_______ _______
Depreciation
At 1 January 2023 4,627 4,627
Charge for the year 4,771 4,771
_______ _______
At 31 December 2023 9,398 9,398
_______ _______
Carrying amount
At 31 December 2023 10,307 10,307
_______ _______
At 31 December 2022 12,187 12,187
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 80,364 115,210
Other debtors 1,463 1,450
_______ _______
81,827 116,660
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,514 6,821
Corporation tax 4,408 -
Social security and other taxes 57,324 72,346
Other creditors 85,469 113,811
_______ _______
148,715 192,978
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Michael Mccloy ( 113) 240 ( 127) -
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Michael Mccloy - 405 ( 518) ( 113)
_______ _______ _______ _______