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Registered Number: 12819569
England and Wales

 

 

 

BRITNEST LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investments 3 2,480,603    1,421,275 
2,480,603    1,421,275 
Current assets      
Cash at bank and in hand 136,333    94,733 
Creditors: amount falling due within one year (220,131)   (220,324)
Net current assets (83,798)   (125,591)
 
Total assets less current liabilities 2,396,805    1,295,684 
Creditors: amount falling due after more than one year (2,054,253)   (1,143,203)
Provisions for liabilities (96,054)   (44,781)
Net assets 246,498    107,700 
 

Capital and reserves
     
Called up share capital 100    100 
Reserves 4 409,491    190,908 
Fair Value Reserves 5 (409,491)   (190,908)
Profit and loss account 246,398    107,600 
Shareholders' funds 246,498    107,700 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 26 July 2024 and were signed on its behalf by:


-------------------------------
Naveen Kumar PATHA
Director
1
General Information
BRITNEST LTD is a private company, limited by shares, registered in England and Wales, registration number 12819569, registration address Flat 4 , 63 Shooters Hill Road, London, SE3 7HS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 1,421,275    1,421,275 
Additions 789,472    789,472 
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 269,856    269,856 
At 31 December 2023 2,480,603    2,480,603 
There is no change in investment value and Investment properties are valued annually by the directors on a fair value basis.


4.

Fair Value Reserves

2023
£
  2022
£
Fair Value Reserve- (409,491)   (190,908)
(409,491)   (190,908)

2