02530104falsesale of musical instruments2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-12-31http://www.companieshouse.gov.uk/cd:Director12023-01-012023-12-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2022-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-12-31http://www.companieshouse.gov.uk/cd:Director22023-01-012023-12-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2023-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2022-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-01-012023-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-01-012023-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-01-012023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-12-31http://www.companieshouse.gov.uk/2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/cd:FRS1022023-01-012023-12-31http://www.companieshouse.gov.uk/2023-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-01-012023-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-01-012023-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 02530104
BREXVILLE LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Prepared By:
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
BREXVILLE LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DIRECTORS
TG Newman
KE Rycroft
REGISTERED OFFICE
1 Quad Road
East Lane
Wembley
Middlesex
HA9 7NE
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 02530104
ACCOUNTANTS
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
BREXVILLE LIMITED
ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
BREXVILLE LIMITED
BALANCE SHEET AT31 December 2023
Registered number: 02530104
20232022
Notes££
FIXED ASSETS
Tangible assets3550,138551,039
CURRENT ASSETS
Stock135,406201,279
Debtors6239,052312,726
Cash at bank and in hand5,3353,924
379,793517,929
CREDITORS: Amounts falling due within one year7131,938140,053
NET CURRENT ASSETS247,855377,876
TOTAL ASSETS LESS CURRENT LIABILITIES797,993928,915
CREDITORS: Amounts falling due after more than one year821,95444,903
PROVISIONS FOR LIABILITIES AND CHARGES965,00065,000
NET ASSETS711,039819,012
CAPITAL AND RESERVES
Called up share capital1022
Fair value reserve1g,11330,604330,604
Profit and loss account380,433488,406
SHAREHOLDERS' FUNDS711,039819,012
For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on16 September 2024and signed on their behalf by
.............................
TG Newman
Director
BREXVILLE LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehiclesreducing balance 20%
Equipmentreducing balance 20%
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1f. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
BREXVILLE LIMITED
1g. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 11).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
2. EMPLOYEES
20232022
No.No.
Average number of employees33
3. TANGIBLE FIXED ASSETS
Commercial
VehiclesEquipmentTotal
£££
Cost
At 1 January 20236,4504586,908
Disposals(6,450)-(6,450)
At 31 December 2023-458458
Depreciation
At 1 January 20235,5842855,869
Disposals(5,584)-(5,584)
For the year-3535
At 31 December 2023-320320
Net Book Amounts
At 31 December 2023-138138
At 31 December 20228661731,039
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 January 2023550,000550,000
At 31 December 2023550,000550,000
The investment property was valued by the directors at 31 December 2020. The cost of investment property was £154,396.
BREXVILLE LIMITED
5. STOCK 20232022
££
Stock comprises:
Stock135,406201,279
135,406201,279
6. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors15,1297,694
Other debtors-1,789
Amounts due from associated companies223,483302,783
Prepayments440460
239,052312,726
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
VAT3,5341,164
PAYE control4,2641,218
Directors current account25,67926,413
Bank Loan23,00023,000
Trade creditors71,67685,950
Other creditors1,636207
Accruals2,1492,101
131,938140,053
The directors current account is interest free.
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans21,95444,903
21,95444,903
Bank borrowings are secured by a fixed charge over the company's freehold property and a fixed and floating charge over the company's assets..
BREXVILLE LIMITED
9. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation65,00065,000
65,00065,000
10. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
11. REVALUATION RESERVE 20232022
££
Non-distributabe fair value reserve330,604330,604
330,604330,604
12. CONTROLLING PARTY
The company is controlled by TG Newman.
13. RELATED PARTY TRANSACTIONS
KE Rycroft is a director of Fifty-Flip Limited. Debtors includes £223,483 (2022: £302,783) owed by that company. Trade creditors includes £1,459 (2022: £7,620) due to that company.