1 March 2023 v2024.40.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP079568192023-03-012024-02-29079568192024-02-29079568192023-02-2807956819core:WithinOneYear2024-02-2907956819core:WithinOneYear2023-02-2807956819core:AfterOneYear2024-02-2907956819core:AfterOneYear2023-02-2807956819core:ShareCapital2024-02-2907956819core:ShareCapital2023-02-2807956819core:RetainedEarningsAccumulatedLosses2024-02-2907956819core:RetainedEarningsAccumulatedLosses2023-02-2807956819bus:Director12023-03-012024-02-2907956819bus:RegisteredOffice2023-03-012024-02-2907956819core:OtherResidualIntangibleAssets2023-03-012024-02-2907956819core:PlantMachinery2023-03-012024-02-2907956819core:MotorVehicles2023-03-012024-02-29079568192022-03-012023-02-2807956819core:IntangibleAssetsOtherThanGoodwill2024-02-2907956819core:PlantMachinery2023-03-0107956819core:PlantMachinery2024-02-2907956819core:PlantMachinery2023-02-280795681912023-03-012024-02-2907956819countries:EnglandWales2023-03-012024-02-2907956819bus:AuditExemptWithAccountantsReport2023-03-012024-02-2907956819bus:PrivateLimitedCompanyLtd2023-03-012024-02-2907956819bus:SmallEntities2023-03-012024-02-2907956819bus:FullAccounts2023-03-012024-02-29
Company registration number:
07956819
B R Rail Limited
Unaudited Filleted Financial Statements for the year ended
29 February 2024
B R Rail Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of B R Rail Limited
Year ended
29 February 2024
As described on the statement of financial position, the Board of Directors of
B R Rail Limited
are responsible for the preparation of the
financial statements
for the year ended
29 February 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Assist Accountants Limited TA Proficient Tax
35 Tallon Road
Hutton
Brentwood
ESSEX
CM13 1TE
United Kingdom
B R Rail Limited
Statement of Financial Position
29 February 2024
20242023
Note££
Fixed assets    
Tangible assets 6
256,554
 
131,345
 
Current assets    
Stocks
142,101
 
137,487
 
Debtors 7
949,274
 
666,491
 
Cash at bank and in hand
65,706
 
18,475
 
1,157,081
 
822,453
 
Creditors: amounts falling due within one year 8
(623,268
)
(374,798
)
Net current assets
533,813
 
447,655
 
Total assets less current liabilities 790,367   579,000  
Creditors: amounts falling due after more than one year 9
(206,734
)
(51,584
)
Net assets
583,633
 
527,416
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
583,632
 
527,415
 
Shareholders funds
583,633
 
527,416
 
For the year ending
29 February 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
2 September 2024
, and are signed on behalf of the board by:
R Freeman
Director
Company registration number:
07956819
B R Rail Limited
Notes to the Financial Statements
Year ended
29 February 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Roding House,
,
Cambridge Road,
,
Barking,
,
IG11 8NL
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Current tax

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.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Other intangible assets
20% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Motor vehicles
20% straight line

Impairment

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.

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 stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Defined contribution pension plan

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.

4 Average number of employees

The average number of persons employed by the company during the year was
12
(2023:
15.00
).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 March 2023
and
29 February 2024
4,188
 
Amortisation  
At
1 March 2023
and
29 February 2024
4,188
 
Carrying amount  
At
29 February 2024
-  
At 28 February 2023 -  

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 March 2023
265,368
 
Additions
178,282
 
At
29 February 2024
443,650
 
Depreciation  
At
1 March 2023
134,023
 
Charge
53,073
 
At
29 February 2024
187,096
 
Carrying amount  
At
29 February 2024
256,554
 
At 28 February 2023
131,345
 

7 Debtors

20242023
££
Trade debtors
773,125
 
588,065
 
Other debtors
176,149
 
78,426
 
949,274
 
666,491
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
228,986
 
64,708
 
Trade creditors
271,155
 
127,340
 
Taxation and social security
94,532
 
169,280
 
Other creditors
28,595
 
13,470
 
623,268
 
374,798
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
14,046
 
23,008
 
Taxation and social security
112,010
  -  
Other creditors
80,678
 
28,576
 
206,734
 
51,584