Caseware UK (AP4) 2023.0.135 2023.0.135 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-12-02false1truetruefalse 13778297 2021-12-01 13778297 2021-12-02 2022-12-31 13778297 2020-12-02 2021-12-01 13778297 2022-12-31 13778297 1 2021-12-02 2022-12-31 13778297 6 2021-12-02 2022-12-31 13778297 1 2021-12-02 2022-12-31 13778297 e:Director2 2021-12-02 2022-12-31 13778297 d:Buildings 2021-12-02 2022-12-31 13778297 d:Buildings 2022-12-31 13778297 d:Buildings d:OwnedOrFreeholdAssets 2021-12-02 2022-12-31 13778297 d:OtherPropertyPlantEquipment 2021-12-02 2022-12-31 13778297 d:OtherPropertyPlantEquipment 2022-12-31 13778297 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-12-02 2022-12-31 13778297 d:OwnedOrFreeholdAssets 2021-12-02 2022-12-31 13778297 d:CurrentFinancialInstruments 2022-12-31 13778297 d:Non-currentFinancialInstruments 2022-12-31 13778297 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13778297 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13778297 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 13778297 d:ShareCapital 2021-12-02 2022-12-31 13778297 d:ShareCapital 2022-12-31 13778297 d:RevaluationReserve 2021-12-02 2022-12-31 13778297 d:RevaluationReserve 2022-12-31 13778297 d:RevaluationReserve 1 2021-12-02 2022-12-31 13778297 d:RevaluationReserve 5 2021-12-02 2022-12-31 13778297 d:RetainedEarningsAccumulatedLosses 2021-12-02 2022-12-31 13778297 d:RetainedEarningsAccumulatedLosses 2022-12-31 13778297 d:RetainedEarningsAccumulatedLosses 1 2021-12-02 2022-12-31 13778297 d:OtherDeferredTax 2022-12-31 13778297 e:OrdinaryShareClass1 2021-12-02 2022-12-31 13778297 e:OrdinaryShareClass1 2022-12-31 13778297 e:FRS102 2021-12-02 2022-12-31 13778297 e:AuditExempt-NoAccountantsReport 2021-12-02 2022-12-31 13778297 e:FullAccounts 2021-12-02 2022-12-31 13778297 e:PrivateLimitedCompanyLtd 2021-12-02 2022-12-31 13778297 4 2021-12-02 2022-12-31 13778297 5 2021-12-02 2022-12-31 13778297 f:PoundSterling 2021-12-02 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13778297









BRITTON AND SON LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
BRITTON AND SON LIMITED
REGISTERED NUMBER: 13778297

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
Note
£

Fixed assets
  

Tangible assets
 4 
1,827,400

  
1,827,400

Current assets
  

Debtors: amounts falling due within one year
 5 
53,160

Cash at bank and in hand
  
28,653

  
81,813

Creditors: amounts falling due within one year
 6 
(661,872)

Net current (liabilities)/assets
  
 
 
(580,059)

Total assets less current liabilities
  
1,247,341

Creditors: amounts falling due after more than one year
 7 
(955,000)

Provisions for liabilities
  

Deferred tax
  
(72,625)

  
 
 
(72,625)

Net assets
  
219,716


Capital and reserves
  

Called up share capital 
  
100

Revaluation reserve
  
217,875

Profit and loss account
  
1,741

  
219,716


Page 1

 
BRITTON AND SON LIMITED
REGISTERED NUMBER: 13778297

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The Director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges her 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: 






................................................
Mrs V Britton
Director

Date: 13 September 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
BRITTON AND SON LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2022


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


Comprehensive income for the period

Profit for the period
-
-
1,741
1,741

Surplus on revaluation of freehold property
-
290,500
-
290,500

Deferred tax on revaluation
-
(72,625)
-
(72,625)
Total comprehensive income for the period
-
217,875
1,741
219,616


Contributions by and distributions to owners

Shares issued during the period
100
-
-
100


At 31 December 2022
100
217,875
1,741
219,716

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
BRITTON AND SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Britton and Son Limited is a private Company limited by shares incorporated in England and Wales, within the United Kingdom. The address of the registered office is Tennyson House, Cambridge Business Park, Cambridge, United Kingdom, CB4 0WZ.
The Company was incorporated on 2 December 2021 and commenced trade on 16 December 2021. 
The principal activity of the Company was that of operating a park home estate.

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 Company's functional and presentational currency is pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director has considered the going concern basis in preparing these financial statements. She has concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading by the Company and the Director will continue to support the Company for a period of at least twelve months from the date of the approval of these financial statements to enable the Company to meet its liabilities as they arise. 
The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

All income is recognised on an accruals basis in the period to which it relates.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
BRITTON AND SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Corporation and deferred taxation

The tax expense for the period comprises corporation 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 corporation 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.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
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.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Other fixed assets
-
25 year straight line

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.

No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material and therefore is not charged to profit or loss.

Page 5

 
BRITTON AND SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

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.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in Statement of Comprehensive Income.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.

Page 6

 
BRITTON AND SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Freehold property
Other fixed assets
Total

£
£
£



Cost or valuation


Additions
960,900
600,000
1,560,900


Revaluations
290,500
-
290,500



At 31 December 2022

1,251,400
600,000
1,851,400



Depreciation


Charge for the period on owned assets
-
4,000
4,000


Impairment charge
20,000
-
20,000



At 31 December 2022

20,000
4,000
24,000



Net book value



At 31 December 2022
1,231,400
596,000
1,827,400

Cost or valuation at 31 December 2022 is as follows:

Land and buildings
£


At cost
960,900
At valuation:

December 2022
290,500



1,251,400

The freehold property was professionally valued by the VAS Valuation Group on 28 July 2022.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2022
£



Cost
960,900

Impairment
(20,000)

Net book value
940,900

Page 7

 
BRITTON AND SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

5.


Debtors

2022
£


Trade debtors
19,037

Other debtors
597

Prepayments and accrued income
33,526

53,160



6.


Creditors: Amounts falling due within one year

2022
£

Trade creditors
310

Corporation tax
7,986

Other creditors
628,044

Accruals and deferred income
25,532

661,872



7.


Creditors: Amounts falling due after more than one year

2022
£

Bank loans
955,000

955,000



8.


Loans


Analysis of the maturity of loans is given below:


2022
£




Amounts falling due after more than 5 years

Bank loans
955,000

955,000

955,000


Page 8

 
BRITTON AND SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

9.


Deferred taxation



2022


£






Charged to other comprehensive income
(72,625)



At end of year
(72,625)

The deferred taxation balance is made up as follows:

2022
£


Deferred tax on revaluation
(72,625)

(72,625)


10.


Share capital

2022
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


During the year, 100 Ordinary shares valued at £1 each were issued and fully paid.


11.


Related party transactions

During the period the Company entered into a loan with the Director, the balance owed to the Director at 31 December 2022 is £209,912. The balance is interest free and repayable on demand.
The Company entered into a loan with the Director's Father, the balance owed at 31 December 2022 is £418,132 and is within other creditors.


12.


Post balance sheet events

Kingfisher Park was sold on 13 October 2023 for £510,000, the freehold property has been impaired to the sales price as at 31 December 2022.


13.


Controlling party

The Ultimate Controlling Party is Mrs Vienna Britton by way of her 100% shareholding in the Company.


Page 9