Registered number
05015806
Brewster Mudie Limited
Filleted Accounts
31 January 2024
Brewster Mudie Limited
Registered number: 05015806
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 1,000
Tangible assets 4 11,275 935
11,275 1,935
Current assets
Stocks 35,550 30,750
Debtors 5 30,367 58,593
Cash at bank and in hand 23,443 11,174
89,360 100,517
Creditors: amounts falling due within one year 6 (32,320) (30,291)
Net current assets 57,040 70,226
Total assets less current liabilities 68,315 72,161
Creditors: amounts falling due after more than one year 7 (9,335) (23,593)
Net assets 58,980 48,568
Capital and reserves
Called up share capital 60 60
Profit and loss account 58,920 48,508
Shareholder's funds 58,980 48,568
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 member has 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.
Mr J C T Brewster
Director
Approved by the board on 16 October 2024
Brewster Mudie Limited
Notes to the Accounts
for the year ended 31 January 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
Fixtures, fittings, tools and equipment 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 20,000
At 31 January 2024 20,000
Amortisation
At 1 February 2023 19,000
Provided during the year 1,000
At 31 January 2024 20,000
Net book value
At 31 January 2024 -
At 31 January 2023 1,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 42,699 5,106 47,805
Additions 9,500 4,000 13,500
At 31 January 2024 52,199 9,106 61,305
Depreciation
At 1 February 2023 41,822 5,048 46,870
Charge for the year 2,302 858 3,160
At 31 January 2024 44,124 5,906 50,030
Net book value
At 31 January 2024 8,075 3,200 11,275
At 31 January 2023 877 58 935
5 Debtors 2024 2023
£ £
Trade debtors 4,140 30,554
Other debtors 26,227 28,039
30,367 58,593
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,385 -
Trade creditors 3,859 14,875
Taxation and social security costs 16,835 13,949
Other creditors 4,241 1,467
32,320 30,291
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,335 23,593
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr J C T Brewster
[Loan 1] 23,030 - (1,812) 21,218
23,030 - (1,812) 21,218
9 Controlling party
The company is under the control of Mr J C T Brewster, director and shareholder.
10 Other information
Brewster Mudie Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Clark Close
Shipston on Stour
Warwickshire
CV36 4HJ
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