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Registered number: 08765852










BRIMSTONE LIVING LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023



 
BRIMSTONE LIVING LTD
REGISTERED NUMBER: 08765852

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,600
4,800

Investments
 5 
151
151

  
3,751
4,951

Current assets
  

Stocks
 6 
162,669
162,669

Debtors: amounts falling due within one year
 7 
98,432
80,748

Cash at bank and in hand
 8 
767
11,073

Current Liabilities
  
261,868
254,490

Creditors: amounts falling due within one year
 9 
(119,641)
(86,807)

Net current assets
  
 
 
142,227
 
 
167,683

Total assets less current liabilities
  
145,978
172,634

Deferred tax
 10 
(900)
(1,200)

  
 
 
(900)
 
 
(1,200)

Net assets
  
145,078
171,434


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
144,978
171,334

  
145,078
171,434


Page 1

 
BRIMSTONE LIVING LTD
REGISTERED NUMBER: 08765852

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:




J D Copas
H P Copas
Director
Director


Date: 29 August 2024
Date:29 August 2024

Page 2

 
BRIMSTONE LIVING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Brimstone Living Ltd is a limited liability company incorporated in England and Wales. 
The address of its registered office is 2 Communications Road, Greenham Business Park, Greenham, Newbury, Berkshire, RG19 6AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of property and property related sales.
Turnover and profit is recognised when contracts for the sale of property have been exchanged prior to the year end, construction is either fully or substantially complete at the year end and completion occurs within three months of the year end.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BRIMSTONE LIVING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office furniture
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
BRIMSTONE LIVING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
BRIMSTONE LIVING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
BRIMSTONE LIVING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Computer equipment
Office furniture
Total

£
£
£



Cost or valuation


At 1 December 2022
1,399
12,382
13,781



At 30 November 2023

1,399
12,382
13,781



Depreciation


At 1 December 2022
1,202
7,779
8,981


Charge for the year on owned assets
49
1,151
1,200



At 30 November 2023

1,251
8,930
10,181



Net book value



At 30 November 2023
148
3,452
3,600



At 30 November 2022
197
4,603
4,800


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2022
151



At 30 November 2023
151

Page 7

 
BRIMSTONE LIVING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
162,669
162,669

162,669
162,669



7.


Debtors

2023
2022
£
£

Trade debtors
5,069
989

Amounts owed by group undertakings
74,213
73,814

Other debtors
7,260
-

Prepayments and accrued income
11,890
5,945

98,432
80,748



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
767
11,073

Less: bank overdrafts
(12)
-

755
11,073



9.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank overdrafts
12
-

Amounts owed to group undertakings
34,140
41,200

Corporation tax
-
4,467

Other taxation and social security
-
6,660

Other creditors
83,389
32,730

Accruals and deferred income
2,100
1,750

119,641
86,807


Page 8

 
BRIMSTONE LIVING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(1,200)


Charged to profit or loss
300



At end of year
(900)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(900)
(1,200)

(900)
(1,200)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary share shares of £1 each
100
100



12.


Related party transactions

At the year end the Company owed its directors £73,819 (2022 - £25,860). These amounts are unsecured, are repayable upon demand and are interest free.
At the year end the Company owed £9,570 (2022 - £6,870) to Brimstone Living 2 Limited, a company under common control. These amounts are unsecured, are repayable upon demand and are interest free.
At the year end the Company owed £34,140 (2022 - £41,200) to Brimstone Living 3 Limited, a subsidiary of the company. These amounts are unsecured, are repayable upon demand and are interest free.
At the year end the Company was owed £74,213 (2022 - £73,814) by Brimstone Living 4 Limited, a subsidiary of the company. These loans are unsecured, are repayable on demand and interest of 8% per annum is being charged.


13.


Controlling party

The company is controlled by its directors.

Page 9