Registered number
02688165
Totalbrief Limited
Filleted Accounts
31 January 2024
Totalbrief Limited
Registered number: 02688165
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,411 15,527
Investments 4 3,897,598 3,879,525
3,910,009 3,895,052
Current assets
Debtors 5 196,417 196,417
Cash at bank and in hand 259,749 389,502
456,166 585,919
Creditors: amounts falling due within one year 6 (148,310) (514,841)
Net current assets 307,856 71,078
Total assets less current liabilities 4,217,865 3,966,130
Creditors: amounts falling due after more than one year 7 (1,684,580) (1,403,452)
Net assets 2,533,285 2,562,678
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 9 1,148,839 1,176,717
Profit and loss account 1,383,446 1,384,961
Shareholders' funds 2,533,285 2,562,678
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.
Mr Rakesh Patel
Director
Approved by the board on 25 October 2024
Totalbrief 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.
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 25% reducing balance
Motor Vehicle 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 13,350 23,902 37,252
At 31 January 2024 13,350 23,902 37,252
Depreciation
At 1 February 2023 13,120 8,605 21,725
Charge for the year 57 3,059 3,116
At 31 January 2024 13,177 11,664 24,841
Net book value
At 31 January 2024 173 12,238 12,411
At 31 January 2023 230 15,297 15,527
4 Investments
Freehold Leasehold
Property Property Total
£ £ £
Fair Value
At 1 February 2023 882,828 1,819,980 2,702,808
Additions - 143,074 143,074
Revaluation 29,809 1,119,030 1,148,839
Disposals - (97,123) (97,123)
At 31 January 2024 912,637 2,984,961 3,897,598
The Freehold and Leasehold Properties are shown on the balance sheet at valuation provided by the director. The Company would be liable to corporation tax of £287,209. if all the properties were disposed at the Directors valuation.
5 Debtors 2024 2023
£ £
Other debtors 196,417 196,417
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 655 442,405
Director's account 112,838 41,937
Taxation and social security costs 20,791 22,479
Other creditors 14,026 8,020
148,310 514,841
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,684,580 1,403,452
8 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 604,204 330,432
Secured bank loans 1,080,376 1,518,436
The Bank Loans are fully secured by a first legal charge on all investment Properties except for the properties on which the company has borrowing from Capital Home Lon which are charged to Capital Home Loans. The Director has also given a personal guarantee to Capital Home Loans.
9 Revaluation reserve 2024 2023
£ £
At 1 February 2023 1,176,717 1,176,717
Loss on revaluation of land and buildings (27,878) -
At 31 January 2024 1,148,839 1,176,717
10 Related party transactions
The Company was controlled throughout the current year and the previous year by the director Mr Rakesh Patel and his wife Baljinder Patel who is the company Secretary. The Company paid a dividend of £ (2023: £ 34,000) to the director and his wife Mrs Baljinder Patel, who owns 100% of the shares capital of the company. The Director has given a personal guarantee to Capital Home Loans in respect of the Borrowing from them.
11 Other information
Totalbrief Limited is a private company limited by shares and incorporated in England. Its registered office is:
Laxmi House
2-b Draycott Avenue
Kenton , Harrow
Middlesex
HA3 0BU
Totalbrief Limited 02688165 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Mr Rakesh Patel No description of principal activity 02688165 2022-02-01 2023-01-31 02688165 core:RevaluationReserve core:LandBuildings 2022-02-01 2023-01-31 02688165 core:WithinOneYear 2023-01-31 02688165 core:AfterOneYear 2023-01-31 02688165 core:ShareCapital 2023-01-31 02688165 core:OtherReservesSubtotal 2023-01-31 02688165 core:RetainedEarningsAccumulatedLosses 2023-01-31 02688165 core:RevaluationReserve 2022-01-31 02688165 2023-02-01 2024-01-31 02688165 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02688165 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 02688165 bus:Director40 2023-02-01 2024-01-31 02688165 1 2023-02-01 2024-01-31 02688165 2 2023-02-01 2024-01-31 02688165 core:PlantMachinery 2023-02-01 2024-01-31 02688165 core:Vehicles 2023-02-01 2024-01-31 02688165 core:RevaluationReserve core:LandBuildings 2023-02-01 2024-01-31 02688165 countries:England 2023-02-01 2024-01-31 02688165 bus:FRS102 2023-02-01 2024-01-31 02688165 bus:FilletedAccounts 2023-02-01 2024-01-31 02688165 2024-01-31 02688165 core:WithinOneYear 2024-01-31 02688165 core:AfterOneYear 2024-01-31 02688165 core:ShareCapital 2024-01-31 02688165 core:OtherReservesSubtotal 2024-01-31 02688165 core:RetainedEarningsAccumulatedLosses 2024-01-31 02688165 core:PlantMachinery 2024-01-31 02688165 core:Vehicles 2024-01-31 02688165 core:AdditionsToInvestments 2024-01-31 02688165 core:RevaluationsIncreaseDecreaseInInvestments 2024-01-31 02688165 core:DisposalsRepaymentsInvestments 2024-01-31 02688165 core:RevaluationReserve 2024-01-31 02688165 2023-01-31 02688165 core:PlantMachinery 2023-01-31 02688165 core:Vehicles 2023-01-31 02688165 core:RevaluationReserve 2023-01-31 iso4217:GBP xbrli:pure