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REGISTERED NUMBER: 02922447 (England and Wales)















Brand New Limited
Trading as
Hodgkinson Design

Unaudited Financial Statements

for the Year Ended 31 March 2024






Brand New Limited (Registered number: 02922447)
Trading as Hodgkinson Design

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Brand New Limited
Trading as Hodgkinson Design

Company Information
for the year ended 31 March 2024







Directors: J A Hodgkinson
C K Pring





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 02922447 (England and Wales)





Accountants: Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Brand New Limited (Registered number: 02922447)
Trading as Hodgkinson Design

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 9,516 1,739

Current assets
Debtors 5 88,510 119,971
Cash at bank and in hand 58,270 363
146,780 120,334
Creditors
Amounts falling due within one year 6 87,214 129,384
Net current assets/(liabilities) 59,566 (9,050 )
Total assets less current liabilities 69,082 (7,311 )

Creditors
Amounts falling due after more than one
year

7

(13,087

)

(23,276

)

Provisions for liabilities 8 (1,142 ) -
Net assets/(liabilities) 54,853 (30,587 )

Capital and reserves
Called up share capital 9 100 100
Retained earnings 10 54,753 (30,687 )
Shareholders' funds 54,853 (30,587 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:



J A Hodgkinson - Director


Brand New Limited (Registered number: 02922447)
Trading as Hodgkinson Design

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Brand New 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.

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.

Going Concern
The company meets its day to day working capital requirements through the support of the directors and shareholders of the company. On this basis, the directors and shareholders consider it appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover represents amounts receivable for architectural and design services net of VAT.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

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

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

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.

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 4 (2023 - 3 ) .

Brand New Limited (Registered number: 02922447)
Trading as Hodgkinson Design

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 April 2023 19,992 51,332 71,324
Additions 2,028 6,965 8,993
At 31 March 2024 22,020 58,297 80,317
Depreciation
At 1 April 2023 19,513 50,072 69,585
Charge for year 264 952 1,216
At 31 March 2024 19,777 51,024 70,801
Net book value
At 31 March 2024 2,243 7,273 9,516
At 31 March 2023 479 1,260 1,739

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 5,159 25,737
Other debtors 83,351 94,234
88,510 119,971

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,183 16,060
Trade creditors 9,556 24,892
Taxation and social security 12,865 12,362
Other creditors 54,610 76,070
87,214 129,384

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 13,087 23,276

8. Provisions for liabilities
2024
£
Deferred tax
Accelerated capital allowances 1,142

Brand New Limited (Registered number: 02922447)
Trading as Hodgkinson Design

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 April 2023 (882 )
Provided during year 2,024
Balance at 31 March 2024 1,142

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. Reserves
Retained
earnings
£

At 1 April 2023 (30,687 )
Profit for the year 85,440
At 31 March 2024 54,753

11. Related party disclosures

Included in other creditors is £46,074 (2023 - £65,404) owed to the directors.