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REGISTERED NUMBER: 03681684 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Browns Estate Agency Limited

Browns Estate Agency Limited (Registered number: 03681684)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Browns Estate Agency Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C G Brown
P F P Brown
S J Brown





SECRETARY: P F P Brown





REGISTERED OFFICE: Office 11
Gloucester House
72 Church Road
Stockton on Tees
Cleveland
TS18 1TW





REGISTERED NUMBER: 03681684 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Browns Estate Agency Limited (Registered number: 03681684)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,852 32,601
Investments 5 - 16,108
28,852 48,709

CURRENT ASSETS
Stocks 6 1,750 1,750
Debtors 7 97,476 121,576
Cash at bank and in hand 178,029 141,277
277,255 264,603
CREDITORS
Amounts falling due within one year 8 105,729 153,959
NET CURRENT ASSETS 171,526 110,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,378

159,353

CREDITORS
Amounts falling due after more than one
year

9

-

(24,673

)

PROVISIONS FOR LIABILITIES 10 (4,871 ) (9,691 )
NET ASSETS 195,507 124,989

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Revaluation reserve - 12,081
Retained earnings 194,507 111,908
SHAREHOLDERS' FUNDS 195,507 124,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Browns Estate Agency Limited (Registered number: 03681684)

Balance Sheet - continued
31 December 2023


The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





C G Brown - Director


Browns Estate Agency Limited (Registered number: 03681684)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Browns Estate Agency Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of the investments.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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 services.

Income Recognition
Income is recognised when a contract for the sale of goods or services is recognised as unconditional.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Office equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.


Browns Estate Agency Limited (Registered number: 03681684)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in shares are included at fair value.

Government grants
Revenue based grants are credited to the profit and loss account on entitlement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 11,000 33,493 42,887 27,910 115,290
Additions - - 1,950 1,513 3,463
At 31 December 2023 11,000 33,493 44,837 29,423 118,753
DEPRECIATION
At 1 January 2023 3,593 25,594 36,309 17,193 82,689
Charge for year 220 1,185 1,255 4,552 7,212
At 31 December 2023 3,813 26,779 37,564 21,745 89,901
NET BOOK VALUE
At 31 December 2023 7,187 6,714 7,273 7,678 28,852
At 31 December 2022 7,407 7,899 6,578 10,717 32,601

Browns Estate Agency Limited (Registered number: 03681684)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 16,108
Disposals (26,601 )
Revaluations 10,493
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 16,108

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2019 17,206
Valuation in 2020 13,301
Valuation in 2021 366
Valuation in 2022 (14,765 )
Valuation in 2023 10,493
Cost (26,601 )

6. STOCKS
2023 2022
£    £   
Stocks 1,750 1,750

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,453 14,932
Other debtors 40,470 54,079
Prepayments and accrued income 38,553 52,565
97,476 121,576

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans - 11,160
Trade creditors 16,181 43,934
Taxation and social security 81,074 59,475
Other creditors 2,402 3,829
Directors' loan accounts 1,216 -
Accruals and deferred income 4,856 35,561
105,729 153,959

Browns Estate Agency Limited (Registered number: 03681684)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years - 10,000
Other loans - 2-5 years - 14,673
- 24,673

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,871 9,691

Deferred
tax
£   
Balance at 1 January 2023 9,691
Credit to Profit and Loss Account during year (4,820 )
Balance at 31 December 2023 4,871

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
800 Ordinary £1 800 800
200 'A' Ordinary Non-Voting £1 200 200
1,000 1,000

12. RELATED PARTY DISCLOSURES

2023 2022
£ £
Amounts due to directors 1,216 -

No interest was charged.