Silverfin false false 31/01/2024 01/02/2023 31/01/2024 N Marchant 12/01/2007 G Taylor 12/01/2007 Gregory Rodney Taylor 12 September 2024 The principal activity of the Company during the financial year was property development. 06050589 2024-01-31 06050589 bus:Director1 2024-01-31 06050589 bus:Director2 2024-01-31 06050589 2023-01-31 06050589 core:CurrentFinancialInstruments 2024-01-31 06050589 core:CurrentFinancialInstruments 2023-01-31 06050589 core:ShareCapital 2024-01-31 06050589 core:ShareCapital 2023-01-31 06050589 core:RetainedEarningsAccumulatedLosses 2024-01-31 06050589 core:RetainedEarningsAccumulatedLosses 2023-01-31 06050589 core:OfficeEquipment 2023-01-31 06050589 core:OfficeEquipment 2024-01-31 06050589 bus:OrdinaryShareClass1 2024-01-31 06050589 2023-02-01 2024-01-31 06050589 bus:FilletedAccounts 2023-02-01 2024-01-31 06050589 bus:SmallEntities 2023-02-01 2024-01-31 06050589 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06050589 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06050589 bus:Director1 2023-02-01 2024-01-31 06050589 bus:Director2 2023-02-01 2024-01-31 06050589 bus:Director3 2023-02-01 2024-01-31 06050589 core:OfficeEquipment core:TopRangeValue 2023-02-01 2024-01-31 06050589 2022-02-01 2023-01-31 06050589 core:OfficeEquipment 2023-02-01 2024-01-31 06050589 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 06050589 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06050589 (England and Wales)

BROWNSEA LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

BROWNSEA LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

BROWNSEA LIMITED

BALANCE SHEET

As at 31 January 2024
BROWNSEA LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 874 1,374
Investment property 4 31,500 31,500
32,374 32,874
Current assets
Debtors 5 493,394 473,013
Cash at bank and in hand 905,951 920,396
1,399,345 1,393,409
Creditors: amounts falling due within one year 6 ( 14,874) ( 13,091)
Net current assets 1,384,471 1,380,318
Total assets less current liabilities 1,416,845 1,413,192
Net assets 1,416,845 1,413,192
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 1,416,745 1,413,092
Total shareholder's funds 1,416,845 1,413,192

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Brownsea Limited (registered number: 06050589) were approved and authorised for issue by the Board of Directors on 12 September 2024. They were signed on its behalf by:

Gregory Rodney Taylor
Director
BROWNSEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
BROWNSEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Brownsea Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 February 2023 5,889 5,889
At 31 January 2024 5,889 5,889
Accumulated depreciation
At 01 February 2023 4,515 4,515
Charge for the financial year 500 500
At 31 January 2024 5,015 5,015
Net book value
At 31 January 2024 874 874
At 31 January 2023 1,374 1,374

4. Investment property

Investment property
£
Valuation
As at 01 February 2023 31,500
As at 31 January 2024 31,500

5. Debtors

2024 2023
£ £
Trade debtors 11,348 22
Amounts owed by Group undertakings 468,606 468,606
Amounts owed by directors 9,436 67
Prepayments 333 333
VAT recoverable 595 909
Corporation tax 3,076 3,076
493,394 473,013

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,560 1,560
Accruals 2,600 2,300
Taxation and social security 1,483 0
Other creditors 9,231 9,231
14,874 13,091

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100