Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01falseThe principal activity of the company continued to be that of a finance company2truetrue 08155457 2023-02-01 2024-01-31 08155457 2022-02-01 2023-01-31 08155457 2024-01-31 08155457 2023-01-31 08155457 c:Director2 2023-02-01 2024-01-31 08155457 d:FurnitureFittings 2023-02-01 2024-01-31 08155457 d:FurnitureFittings 2024-01-31 08155457 d:FurnitureFittings 2023-01-31 08155457 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08155457 d:ComputerEquipment 2023-02-01 2024-01-31 08155457 d:ComputerEquipment 2024-01-31 08155457 d:ComputerEquipment 2023-01-31 08155457 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08155457 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08155457 d:CurrentFinancialInstruments 2024-01-31 08155457 d:CurrentFinancialInstruments 2023-01-31 08155457 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08155457 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08155457 d:ShareCapital 2024-01-31 08155457 d:ShareCapital 2023-01-31 08155457 d:SharePremium 2024-01-31 08155457 d:SharePremium 2023-01-31 08155457 d:RetainedEarningsAccumulatedLosses 2024-01-31 08155457 d:RetainedEarningsAccumulatedLosses 2023-01-31 08155457 c:OrdinaryShareClass1 2023-02-01 2024-01-31 08155457 c:OrdinaryShareClass1 2024-01-31 08155457 c:FRS102 2023-02-01 2024-01-31 08155457 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08155457 c:FullAccounts 2023-02-01 2024-01-31 08155457 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08155457 2 2023-02-01 2024-01-31 08155457 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 08155457 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 08155457 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 08155457 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08155457














THE BRIARS FINANCE LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
THE BRIARS FINANCE LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
THE BRIARS FINANCE LIMITED
REGISTERED NUMBER:08155457

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
288
664

  
288
664

Current assets
  

Debtors: amounts falling due within one year
 5 
2,047,142
2,346,400

Cash at bank and in hand
 6 
299,886
180,403

  
2,347,028
2,526,803

Creditors: amounts falling due within one year
 7 
(61,709)
(110,136)

Net current assets
  
 
 
2,285,319
 
 
2,416,667

Total assets less current liabilities
  
2,285,607
2,417,331

Provisions for liabilities
  

Deferred tax
 8 
-
(166)

  
 
 
-
 
 
(166)

Net assets
  
2,285,607
2,417,165


Capital and reserves
  

Called up share capital 
 9 
185
185

Share premium account
  
490,622
490,622

Profit and loss account
  
1,794,800
1,926,358

  
2,285,607
2,417,165


1

 
THE BRIARS FINANCE LIMITED
REGISTERED NUMBER:08155457
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 profit and loss account 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: 




................................................
R A Gold
Director

Date: 30 September 2024

The notes on pages 3 to 7 form part of these financial statements.

2

 
THE BRIARS FINANCE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The Briars Finance Limited is a private limited company, registered in England and Wales with registration number 08155457. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of a finance company.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises of revenue recognised by the company in respect of providing financial services during the year.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current 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 current 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.

3

 
THE BRIARS FINANCE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Straight Line
Computer equipment
-
33%
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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

 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.

 
2.9

 Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Profit and loss account in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

4

 
THE BRIARS FINANCE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

 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.

 
2.11

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
372
1,759
2,131



At 31 January 2024

372
1,759
2,131



Depreciation


At 1 February 2023
10
1,457
1,467


Charge for the year
74
302
376



At 31 January 2024

84
1,759
1,843



Net book value



At 31 January 2024
288
-
288



At 31 January 2023
362
302
664

5

 
THE BRIARS FINANCE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Other debtors
2,013,065
2,346,400

Deferred taxation
34,077
-

2,047,142
2,346,400



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
299,886
180,403



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
41,001

Other creditors
52,354
53,354

Accruals
9,355
15,781

61,709
110,136



8.


Deferred taxation




2024


£






At beginning of year
166


Charged to profit or loss
34,243



At end of year
(34,077)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
72
166

Tax losses carried forward
(34,149)
-

(34,077)
166

6

 
THE BRIARS FINANCE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



185 Ordinary shares of £1.00 each
185
185



10.


Related party transactions

As at the year end, the directors owed £10,000 (2023 - £10,400) to the company. These loans are interest free and repayable on demand.
During the year, a dividend of £30,000 (2023 - £20,000) was paid to the directors.
Included in other creditors is an amount of £52,354 (2023 - £52,354) owing to companies under common control. This is an interest free loan that is repayable on demand.

 
7