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Company Registration No. 11716416 (England and Wales)
Brown Assets Limited Unaudited accounts for the year ended 31 December 2023
Brown Assets Limited Unaudited accounts Contents
Page
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Brown Assets Limited Company Information for the year ended 31 December 2023
Director
C Brown
Company Number
11716416 (England and Wales)
Registered Office
Flat 22 The Pavillion Wrotham Road Gravesend Kent DA11 0QG
Accountants
Clayton Stirling 123 Cross Lane East Gravesend Kent DA12 5HA
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Brown Assets Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
672 
961 
Investment property
435,823 
435,823 
436,495 
436,784 
Current assets
Debtors
1,724 
1,845 
Cash at bank and in hand
994 
35,619 
2,718 
37,464 
Creditors: amounts falling due within one year
(81,652)
(68,080)
Net current liabilities
(78,934)
(30,616)
Total assets less current liabilities
357,561 
406,168 
Creditors: amounts falling due after more than one year
(461,658)
(461,263)
Net liabilities
(104,097)
(55,095)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(104,099)
(55,097)
Shareholders' funds
(104,097)
(55,095)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 July 2024 and were signed on its behalf by
C Brown Director Company Registration No. 11716416
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Brown Assets Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Brown Assets Limited is a private company, limited by shares, registered in England and Wales, registration number 11716416. The registered office is Flat 22 The Pavillion, Wrotham Road, Gravesend, Kent, DA11 0QG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Going concern
The financial statements have been prepared on a going concern basis as the director has indicated he will continue to provide financial assistance to meet ongoing costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
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Brown Assets Limited Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
840 
605 
1,445 
At 31 December 2023
840 
605 
1,445 
Depreciation
At 1 January 2023
- 
484 
484 
Charge for the year
168 
121 
289 
At 31 December 2023
168 
605 
773 
Net book value
At 31 December 2023
672 
- 
672 
At 31 December 2022
840 
121 
961 
5
Investment property
2023 
£ 
Fair value at 1 January 2023
435,823 
At 31 December 2023
435,823 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,724 
1,845 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
32,300 
31,819 
Accruals
49,352 
36,261 
81,652 
68,080 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
338,658 
338,263 
Other creditors
123,000 
123,000 
461,658 
461,263 
Aggregate of amounts that fall due for payment after five years
338,658 
338,263 
The above bank loans have been secured by fixed and floating charges over the assets of the company.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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