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COMPANY REGISTRATION NUMBER: 06979370
Brimington Investments Limited
Filleted Unaudited Abridged Financial Statements
31 March 2024
Brimington Investments Limited
Abridged Financial Statements
Year Ended 31 March 2024
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 5
Brimington Investments Limited
Abridged Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed Assets
Investments
6
210,915
210,915
Current Assets
Debtors
6,645
6,200
Cash at bank and in hand
110,272
100,182
---------
---------
116,917
106,382
Creditors: amounts falling due within one year
23,834
23,669
---------
---------
Net Current Assets
93,083
82,713
---------
---------
Total Assets Less Current Liabilities
303,998
293,628
Provisions
Taxation including deferred tax
36,532
36,532
---------
---------
Net Assets
267,466
257,096
---------
---------
Capital and Reserves
Called up share capital
7
915
915
Revaluation reserve
157,447
157,447
Profit and loss account
109,104
98,734
---------
---------
Shareholders Funds
267,466
257,096
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Brimington Investments Limited
Abridged Statement of Financial Position (continued)
31 March 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr T P Gadd
Director
Company registration number: 06979370
Brimington Investments Limited
Notes to the Abridged Financial Statements
Year Ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 49 Brimington Road North, Chesterfield, Derbyshire, S41 9BE.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the year.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Any fixed asset investment carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
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.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
£
Cost
At 1 April 2023 and 31 March 2024
503
----
Depreciation
At 1 April 2023 and 31 March 2024
503
----
Carrying amount
At 31 March 2024
----
At 31 March 2023
----
6. Investments
Shares in group undertakings
Investment property
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
915
210,000
210,915
----
---------
---------
Impairment
At 1 April 2023 and 31 March 2024
----
---------
---------
Carrying amount
At 31 March 2024
915
210,000
210,915
----
---------
---------
At 31 March 2023
915
210,000
210,915
----
---------
---------
The company owns 100% of the issued share capital of Gadd and Scott Limited.
The land and buildings were revalued by White & Co, Chartered Surveyors at an open market value of £210,000 in August 2017. The directors still consider this value to be appropriate at 31 March 2024.
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
315
315
315
315
Ordinary B shares of £ 1 each
600
600
600
600
----
----
----
----
915
915
915
915
----
----
----
----