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Registered number: 12295359
Brola Construction Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Malcolm Horton & Co
57 Windmill Street
Gravesend
Kent
DA12 1BB
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12295359
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,426 17,305
13,426 17,305
CURRENT ASSETS
Debtors 5 - 54,362
Cash at bank and in hand 59,740 56,854
59,740 111,216
Creditors: Amounts Falling Due Within One Year 6 (29,160 ) (81,102 )
NET CURRENT ASSETS (LIABILITIES) 30,580 30,114
TOTAL ASSETS LESS CURRENT LIABILITIES 44,006 47,419
Creditors: Amounts Falling Due After More Than One Year 7 (20,618 ) (27,222 )
NET ASSETS 23,388 20,197
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 23,288 20,097
SHAREHOLDERS' FUNDS 23,388 20,197
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D Brola
Director
21st August 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Brola Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12295359 . The registered office is 57 Windmill Street, Gravesend, Kent, DA12 1BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 7,281 24,065 31,346
As at 30 November 2023 7,281 24,065 31,346
Depreciation
As at 1 December 2022 2,809 11,232 14,041
Provided during the period 671 3,208 3,879
As at 30 November 2023 3,480 14,440 17,920
Net Book Value
As at 30 November 2023 3,801 9,625 13,426
As at 1 December 2022 4,472 12,833 17,305
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 54,362
- 54,362
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,365 20,116
Corporation tax 4,004 4,309
Other taxes and social security 2,535 1,791
VAT 7,760 24,886
Other creditors - 30,000
Director's loan account 2,496 -
29,160 81,102
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 20,618 27,222
20,618 27,222
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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