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REGISTERED NUMBER: 06035964 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BRICESCO LIMITED

BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 123,231 136,199
123,231 136,199

CURRENT ASSETS
Stocks 495,420 376,509
Debtors 6 734,801 841,843
1,230,221 1,218,352
CREDITORS
Amounts falling due within one year 7 801,619 779,638
NET CURRENT ASSETS 428,602 438,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

551,833

574,913

CREDITORS
Amounts falling due after more than one
year

8

289,498

399,895
NET ASSETS 262,335 175,018

CAPITAL AND RESERVES
Called up share capital 42,228 42,228
Capital redemption reserve 16,695 16,695
Retained earnings 203,412 116,095
262,335 175,018

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

BALANCE SHEET - continued
31 DECEMBER 2023


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 20 August 2024 and were signed on its behalf by:





Mrs K R E Yeoman - Director


BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Bricesco Limited is a private company, limited by shares, registered in England and Wales, registered number 06035964. Its registered office is Unit 101 Bentley Road South, Wednesbury, England, WS10 8LQ.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised.

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.

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, 25% on cost, 20% on reducing balance and 15% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.


BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Amounts receivable from the government in relation to Covid19 assistance have been accounted for on an accruals basis.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 37,800
AMORTISATION
At 1 January 2023
and 31 December 2023 37,800
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 442,795
Additions 18,270
Disposals (3,450 )
At 31 December 2023 457,615
DEPRECIATION
At 1 January 2023 306,596
Charge for year 27,788
At 31 December 2023 334,384
NET BOOK VALUE
At 31 December 2023 123,231
At 31 December 2022 136,199

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 260,432 414,335
Other debtors 474,369 427,508
734,801 841,843

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 94,959 134,632
Hire purchase contracts (see note 9) 6,924 13,772
Trade creditors 592,014 389,457
Taxation and social security 43,533 187,077
Other creditors 64,189 54,700
801,619 779,638

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 136,667 216,667
Hire purchase contracts (see note 9) 1,195 8,136
Other creditors 151,636 175,092
289,498 399,895

BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans 23,729 34,278

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 6,924 13,772
Between one and five years 1,195 8,136
8,119 21,908

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 109,349 -
Between one and five years 388,723 17,628
In more than five years 72,000 706,231
570,072 723,859

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 8,119 21,908
Other loans 185,239 209,895
193,358 231,803

Hire purchase liabilities are secured against the assets acquired.

Other loans are secured by way of fixed and floating charges against the assets of the company.

BRICESCO LIMITED (REGISTERED NUMBER: 06035964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2023 and the period ended 31 December 2022:

31.12.23 31.12.22
£    £   
Mrs K R E Yeoman
Balance outstanding at start of year 29,412 105,157
Amounts advanced 64,185 94,401
Amounts repaid (66,215 ) (170,146 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,382 29,412

S E Kitson
Balance outstanding at start of year 43,723 33,842
Amounts advanced 59,352 68,070
Amounts repaid (22,054 ) (58,189 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,021 43,723

R J Bridgewater
Balance outstanding at start of year 74,806 8,858
Amounts advanced 54,252 66,435
Amounts repaid (19,738 ) (487 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 109,320 74,806

The above amounts were unsecured, interest free and repayable on demand.