Briffa Phillips Limited 08806204 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is architectural services. Digita Accounts Production Advanced 6.30.9574.0 true 08806204 2023-01-01 2023-12-31 08806204 2023-12-31 08806204 bus:OrdinaryShareClass1 2023-12-31 08806204 core:CurrentFinancialInstruments 2023-12-31 08806204 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08806204 core:Non-currentFinancialInstruments 2023-12-31 08806204 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08806204 core:Goodwill 2023-12-31 08806204 core:FurnitureFittingsToolsEquipment 2023-12-31 08806204 core:LandBuildings 2023-12-31 08806204 bus:SmallEntities 2023-01-01 2023-12-31 08806204 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08806204 bus:FullAccounts 2023-01-01 2023-12-31 08806204 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08806204 bus:RegisteredOffice 2023-01-01 2023-12-31 08806204 bus:Director1 2023-01-01 2023-12-31 08806204 bus:Director2 2023-01-01 2023-12-31 08806204 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08806204 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08806204 core:Goodwill 2023-01-01 2023-12-31 08806204 core:NetGoodwill 2023-01-01 2023-12-31 08806204 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 08806204 core:LandBuildings 2023-01-01 2023-12-31 08806204 countries:England 2023-01-01 2023-12-31 08806204 2022-12-31 08806204 core:Goodwill 2022-12-31 08806204 core:FurnitureFittingsToolsEquipment 2022-12-31 08806204 core:LandBuildings 2022-12-31 08806204 2022-01-01 2022-12-31 08806204 2022-12-31 08806204 bus:OrdinaryShareClass1 2022-12-31 08806204 core:CurrentFinancialInstruments 2022-12-31 08806204 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08806204 core:Non-currentFinancialInstruments 2022-12-31 08806204 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 08806204 core:FurnitureFittingsToolsEquipment 2022-12-31 08806204 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08806204

Briffa Phillips Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Briffa Phillips Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Briffa Phillips Limited

Company Information

Directors

Mr Matthew Briffa

Dr Niamh Dillon

Registered office

10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

Accountants

RS Partnership Limited
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Briffa Phillips Limited

(Registration number: 08806204)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,040

1,854

Current assets

 

Debtors

6

132,268

124,614

Cash at bank and in hand

 

61,408

115,559

 

193,676

240,173

Creditors: Amounts falling due within one year

7

(78,815)

(95,007)

Net current assets

 

114,861

145,166

Total assets less current liabilities

 

116,901

147,020

Creditors: Amounts falling due after more than one year

7

(36,667)

(56,667)

Provisions for liabilities

(510)

(352)

Net assets

 

79,724

90,001

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

79,624

89,901

Shareholders' funds

 

79,724

90,001

 

Briffa Phillips Limited

(Registration number: 08806204)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

.........................................
Mr Matthew Briffa
Director

 

Briffa Phillips Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

The principal place of business is:
19-21 Holywell Hill
St Albans
Hertfordshire
AL1 1EZ
United Kingdom

These financial statements were authorised for issue by the Board on 29 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Briffa Phillips Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings and office equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Briffa Phillips Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Briffa Phillips Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

552,984

552,984

At 31 December 2023

552,984

552,984

Amortisation

At 1 January 2023

552,984

552,984

At 31 December 2023

552,984

552,984

Carrying amount

At 31 December 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1

20,836

20,837

Additions

-

2,377

2,377

At 31 December 2023

1

23,213

23,214

Depreciation

At 1 January 2023

-

18,983

18,983

Charge for the year

-

2,191

2,191

At 31 December 2023

-

21,174

21,174

Carrying amount

At 31 December 2023

1

2,039

2,040

At 31 December 2022

1

1,853

1,854

Included within the net book value of land and buildings above is £1 (2022 - £1) in respect of long leasehold land and buildings.
 

 

Briffa Phillips Limited

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

6

Debtors

2023
£

2022
£

Trade debtors

56,993

55,001

Prepayments

10,210

4,550

Other debtors

65,065

65,063

132,268

124,614

 

Briffa Phillips Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

20,000

20,000

Trade creditors

 

2,515

(820)

Taxation and social security

 

21,987

26,096

Accruals and deferred income

 

2,216

1,997

Other creditors

 

552

945

Corporation tax

 

23,092

43,693

Directors Loan Account

 

8,453

3,096

 

78,815

95,007

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

36,667

56,667

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

36,667

56,667

2023
£

2022
£

Current loans and borrowings

Bank borrowings

20,000

20,000

 

Briffa Phillips Limited

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

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £52,500 (2022 - £87,500).