Registered number
08474182
Britannia Reeds Limited
Filleted Accounts
31 May 2024
Britannia Reeds Limited
Registered number: 08474182
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 900 2,165
Current assets
Stocks 1,363 1,343
Debtors 5 263 171
Cash at bank and in hand 8,997 12,670
10,623 14,184
Creditors: amounts falling due within one year 6 (9,817) (11,422)
Net current assets 806 2,762
Net assets 1,706 4,927
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,704 4,925
Shareholders' funds 1,706 4,927
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Lorraine Blyth
Director
Approved by the board on 22 August 2024
Britannia Reeds Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 60,000
At 31 May 2024 60,000
Amortisation
At 1 June 2023 60,000
At 31 May 2024 60,000
Net book value
At 31 May 2024 -
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 6,323
At 31 May 2024 6,323
Depreciation
At 1 June 2023 4,158
Charge for the year 1,265
At 31 May 2024 5,423
Net book value
At 31 May 2024 900
At 31 May 2023 2,165
5 Debtors 2024 2023
£ £
Trade debtors 263 171
6 Creditors: amounts falling due within one year 2024 2023
£ £
Lorraine Blyth-Director's Loan a/c 1,480 644
Damian Brassington-Director's Loan a/c 5,857 5,736
Corporation tax 1,418 4,069
Other creditors 1,062 973
9,817 11,422
7 Related party transactions
The company is controlled by its directors, who are also equal shareholders. Damian Brasington received a salary from the company of £9,096 (2023: £9,096) plus a dividend of £1,000 (2023: £2,000). At the year end the company owed him £5,857(2023: £5,736). Lorraine Blyth received a salary from the company of £9,096 (2023: £9,096) plus dividends of £7,000 (2023: £12,000). At the year end the company owed her £1,480 (2023: £644).
8 Controlling party
There is no controlling party in the company.
9 Other information
Britannia Reeds Limited is a private company limited by shares and incorporated in England. Its registered office is:
69 Loughborough Road
West Bridgford
Nottingham
NG2 7LA
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