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Registration number: 04644210

D F Bryan Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

D F Bryan Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

D F Bryan Ltd

(Registration number: 04644210)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

1,500

Tangible assets

5

37,441

37,701

 

37,441

39,201

Current assets

 

Stocks

2,598

1,870

Debtors

6

24,877

23,112

Cash at bank and in hand

 

17,192

-

 

44,667

24,982

Creditors: Amounts falling due within one year

7

(63,923)

(55,477)

Net current liabilities

 

(19,256)

(30,495)

Total assets less current liabilities

 

18,185

8,706

Creditors: Amounts falling due after more than one year

7

(12,493)

(20,964)

Provisions for liabilities

(5,597)

(3,656)

Net assets/(liabilities)

 

95

(15,914)

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

91

(15,918)

Shareholders' funds/(deficit)

 

95

(15,914)

 

D F Bryan Ltd

(Registration number: 04644210)
Statement of Financial Position as at 31 December 2023 (continued)

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 


D J Bryan
Director

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
19 Balfour Terrace
Plymouth
Devon
PL2 1RS
United Kingdom

Principal activity

The principal activity of the company is that of industrial and commercial building services.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis with the company reliant upon the continued support of its directors and the bank overdraft facility.

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% Reducing balance

Fixtures, fittings and equipment

15% Reducing balance

Motor vehicles

25% Reducing balance

Computer equipment

25% Reducing balance

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 Years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 statement of comprehensive income 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.

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

30,000

30,000

At 31 December 2023

30,000

30,000

Amortisation

At 1 January 2023

28,500

28,500

Amortisation charge

1,500

1,500

At 31 December 2023

30,000

30,000

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

1,500

1,500

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

7,135

5,931

1,050

45,383

59,499

Additions

-

-

-

11,746

11,746

At 31 December 2023

7,135

5,931

1,050

57,129

71,245

Depreciation

At 1 January 2023

5,056

4,464

806

11,472

21,798

Charge for the year

312

220

60

11,414

12,006

At 31 December 2023

5,368

4,684

866

22,886

33,804

Carrying amount

At 31 December 2023

1,767

1,247

184

34,243

37,441

At 31 December 2022

2,079

1,467

244

33,911

37,701

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Debtors

2023
£

2022
£

Trade debtors

 

21,058

16,466

Prepayments

 

3,819

3,880

Income tax asset

-

2,766

 

24,877

23,112

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

8,100

21,573

Trade creditors

 

6,560

1,983

Taxation and social security

 

24,013

8,950

Accruals and deferred income

 

3,463

3,292

Other creditors

 

21,787

19,679

 

63,923

55,477

Creditors include bank overdraft which is secured of £nil (2022 - £14,054).

Creditors include a government backed Covid bank loan of £8,100 (2022 - £7,519).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

12,493

20,964

Creditors include a Government backed Covid loan of £12,493 (2022 - £20,964).

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

12,493

20,964

Current loans and borrowings

2023
£

2022
£

Bank borrowings

8,100

7,519

Bank overdrafts

-

14,054

8,100

21,573

10

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

3,631

3,631

Later than one year and not later than five years

7,868

11,499

11,499

15,130

The amount of non-cancellable operating lease payments recognised as an expense during the year was £3,631 (2022 - £5,750).

 

D F Bryan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

11

Related party transactions

During the year the directors entered into the following advances and credits with the company:

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Directors loans

(19,127)

(624)

750

(19,001)

         
       

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Directors loans

10,011

(19,127)

(10,011)

(19,127)