Registered number 06724968
Brik Property Limited
Report and Unaudited Accounts
31 December 2023
James Smith (Accountant ) Ltd
Chartered Accountant
The Dower House
Church Street
West Hanney
Oxfordshire
OX12 0LW
Accountants' Report to the Directors on the Unaudited Statutory Accounts of Brik Property Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Brik Property Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.
………………………………….
James Smith (Accountant) Ltd
Chartered Accountant
The Dower House
Church Street
West Hanney
Oxfordshire
OX12 0LW
31 May 2024
Brik Property Limited
Registered number: 06724968
Balance Sheet as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 36,310 50,901
Current assets
Debtors 4 107,269 219,744
Cash at bank and in hand 187,707 377,662
294,976 597,406
Creditors: amounts falling due within one year 5 (112,436) (228,420)
Net current assets 182,540 368,986
Total assets less current liabilities 218,850 419,887
Provisions for liabilities (7,044) (11,912)
Net assets 211,806 407,975
Capital and reserves
Called up share capital 38 38
Share premium 199,998 199,998
Profit and loss account 11,770 207,939
Shareholders' funds 211,806 407,975
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 31 May 2024
………………………………
Christian Littlewood
Director
Brik Property Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue from the provision of services. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 2-5 years straight line
Motor Vehicles 30% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 6,512 183,382 34,342 224,236
Additions - 8,872 5,590 14,462
At 31 December 2023 6,512 192,254 39,932 238,698
Depreciation
At 1 January 2023 5,703 156,127 11,505 173,335
Charge for the year 598 21,138 7,317 29,053
At 31 December 2023 6,301 177,265 18,822 202,388
Net book value
At 31 December 2023 211 14,989 21,110 36,310
At 31 December 2022 809 27,255 22,837 50,901
4 Debtors 2023 2022
£ £
Trade debtors 620 137,910
Other debtors 106,649 81,834
107,269 219,744
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 34,044 25,436
Corporation tax 40,101 101,868
Other taxes and social security costs 36,298 90,303
Other creditors 1,993 10,813
112,436 228,420
6 Loans to directors
All director loans are repayable on demand.
2023 2022
£ £
Amounts (from)/ to the director
Christian Littlewood (9,652) 3,186
Benjamin Littlewood (9,852) 148
Micheal Horne (9,652) 5,111
(29,156) 8,445
7 Other information
Brik Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
77 Parsons Green Lane
London
SW6 4JA
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