755 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 27,500 2,750 2,750 5,500 22,000 24,750 xbrli:pure xbrli:shares iso4217:GBP 02224829 2023-04-01 2024-03-31 02224829 2024-03-31 02224829 2023-03-31 02224829 2022-04-01 2023-03-31 02224829 2023-03-31 02224829 2022-03-31 02224829 core:NetGoodwill 2023-04-01 2024-03-31 02224829 core:PlantMachinery 2023-04-01 2024-03-31 02224829 core:MotorVehicles 2023-04-01 2024-03-31 02224829 bus:Director3 2023-04-01 2024-03-31 02224829 core:NetGoodwill 2023-03-31 02224829 core:NetGoodwill 2024-03-31 02224829 core:LandBuildings 2023-03-31 02224829 core:PlantMachinery 2023-03-31 02224829 core:MotorVehicles 2023-03-31 02224829 core:LandBuildings 2024-03-31 02224829 core:PlantMachinery 2024-03-31 02224829 core:MotorVehicles 2024-03-31 02224829 core:LandBuildings 2023-04-01 2024-03-31 02224829 core:WithinOneYear 2024-03-31 02224829 core:WithinOneYear 2023-03-31 02224829 core:ShareCapital 2024-03-31 02224829 core:ShareCapital 2023-03-31 02224829 core:SharePremium 2024-03-31 02224829 core:SharePremium 2023-03-31 02224829 core:RetainedEarningsAccumulatedLosses 2024-03-31 02224829 core:RetainedEarningsAccumulatedLosses 2023-03-31 02224829 core:BetweenOneFiveYears 2024-03-31 02224829 core:BetweenOneFiveYears 2023-03-31 02224829 core:NetGoodwill 2023-03-31 02224829 core:LandBuildings 2023-03-31 02224829 core:PlantMachinery 2023-03-31 02224829 core:MotorVehicles 2023-03-31 02224829 bus:SmallEntities 2023-04-01 2024-03-31 02224829 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02224829 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02224829 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02224829 bus:FullAccounts 2023-04-01 2024-03-31 02224829 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02224829 core:OfficeEquipment 2023-04-01 2024-03-31 02224829 core:LeaseholdImprovements 2023-04-01 2024-03-31 02224829 core:OfficeEquipment 2023-03-31 02224829 core:LeaseholdImprovements 2023-03-31 02224829 core:OfficeEquipment 2024-03-31 02224829 core:LeaseholdImprovements 2024-03-31
COMPANY REGISTRATION NUMBER: 02224829
D Brice & Co Limited
Filleted Unaudited Financial Statements
31 March 2024
D Brice & Co Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
22,000
24,750
Tangible assets
6
424,398
383,243
---------
---------
446,398
407,993
Current assets
Stocks
31,927
24,771
Debtors
7
1,085,574
836,914
Cash at bank and in hand
1,153,261
1,475,976
------------
------------
2,270,762
2,337,661
Creditors: amounts falling due within one year
8
( 1,460,929)
( 1,307,794)
------------
------------
Net current assets
809,833
1,029,867
------------
------------
Total assets less current liabilities
1,256,231
1,437,860
Provisions
Taxation including deferred tax
( 20,000)
( 46,323)
------------
------------
Net assets
1,236,231
1,391,537
------------
------------
Capital and reserves
Called up share capital
6,000
6,000
Share premium account
75,580
75,580
Profit and loss account
1,154,651
1,309,957
------------
------------
Shareholders funds
1,236,231
1,391,537
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
D Brice & Co Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
R D Brice
Director
Company registration number: 02224829
D Brice & Co Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 15, 57A Croydon Road, Croydon, CR0 4WQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Freehold property
-
2.5% straight line
Maintenance & cleaning equipment
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% reducing balance
Improvements to property
-
10% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 755 (2023: 650 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
27,500
--------
Amortisation
At 1 April 2023
2,750
Charge for the year
2,750
--------
At 31 March 2024
5,500
--------
Carrying amount
At 31 March 2024
22,000
--------
At 31 March 2023
24,750
--------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Improve- ments to property
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
155,000
57,285
256,252
93,440
192,098
754,075
Additions
35,785
105,156
799
141,740
Disposals
( 67,371)
( 67,371)
---------
--------
---------
--------
---------
---------
At 31 Mar 2024
155,000
93,070
294,037
94,239
192,098
828,444
---------
--------
---------
--------
---------
---------
Depreciation
At 1 Apr 2023
38,750
40,966
145,602
62,456
83,058
370,832
Charge for the year
3,875
10,421
50,873
6,357
12,969
84,495
Disposals
( 51,281)
( 51,281)
---------
--------
---------
--------
---------
---------
At 31 Mar 2024
42,625
51,387
145,194
68,813
96,027
404,046
---------
--------
---------
--------
---------
---------
Carrying amount
At 31 Mar 2024
112,375
41,683
148,843
25,426
96,071
424,398
---------
--------
---------
--------
---------
---------
At 31 Mar 2023
116,250
16,319
110,650
30,984
109,040
383,243
---------
--------
---------
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
1,025,421
784,614
Other debtors
60,153
52,300
------------
---------
1,085,574
836,914
------------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
36,952
25,402
Amounts owed to group undertakings and undertakings in which the company has a participating interest
8,444
54,644
Corporation tax
7,103
Social security and other taxes
664,118
527,027
Other creditors
751,415
693,618
------------
------------
1,460,929
1,307,794
------------
------------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
82,500
82,500
Later than 1 year and not later than 5 years
82,500
165,000
---------
---------
165,000
247,500
---------
---------
10. Controlling party
The company is a wholly owned subsidiary of Mallow Holdings Limited, a company registered in England and Wales .