REGISTERED NUMBER: |
BRYONG LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
BRYONG LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
BRYONG LIMITED (REGISTERED NUMBER: 01555488) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
BRYONG LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Landgate Chambers |
Rye |
East Sussex |
TN31 7LJ |
BRYONG LIMITED (REGISTERED NUMBER: 01555488) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
BRYONG LIMITED (REGISTERED NUMBER: 01555488) |
BALANCE SHEET - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BRYONG LIMITED (REGISTERED NUMBER: 01555488) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Bryong Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover represents invoiced sales of services and property rental income. |
TANGIBLE FIXED ASSETS |
Investment property | - |
Fixtures and fittings | - |
Computer equipment | - |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
FOREIGN CURRENCIES |
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction unless a conversion rate has been agreed between the parties in which case transactions are recorded at the agreed rate. Where there is no agreed rate in force, assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result. |
BRYONG LIMITED (REGISTERED NUMBER: 01555488) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
INVESTMENT PROPERTY |
Investment properties are held at fair value as required by FRS102 1A. All properties will be reviewed annually by the directors and any changes in fair value will be recognised through the profit and loss account. The net movement in fair value, after providing for deferred tax, will then be transferred to the fair value reserve. |
Investment in associates |
Investments in associate undertakings are recognised at cost. |
Other investments |
Other investments include listed and unlisted shares as well as other investments held for capital appreciation. These items will be separately accounted for as follows: |
Listed investments |
Listed investments are held at their current fair value as required by FRS102 1A. Any gains or losses will be recognised through the profit and loss account. Any net gain, after providing for deferred tax, will then be transferred to the fair value reserve. |
Unlisted investments |
Investments are included at cost, unless in the opinion of the directors there has been a permanent diminution in value, in which case an appropriate adjustment is made. |
Other investments held for capital appreciation |
These assets are held at fair value as it is expected that there value will increase over time. All items will be reviewed annually by the directors and any changes in fair value will be recognised through the profit and loss account. The net movement in fair value, after providing for deferred tax, will then be transferred to the fair value reserve. |
Investment income |
Investment income comprises dividends received during the accounting period and interest receivable on listed and unlisted investments. |
FAIR VALUE RESERVE |
The fair value reserve represents the increase in value of listed investments, investments properties and other assets held for capital appreciation, net of the relevant deferred tax provision. As these changes in value have been recognised in the profit and loss account, a reserves transfer is made to correctly state the fair value reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
BRYONG LIMITED (REGISTERED NUMBER: 01555488) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Investment | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 | 53,446 |
NET BOOK VALUE |
At 31 March 2024 | 53,446 |
At 31 March 2023 | 53,446 |
Other Investments are made up as follows |
Listed Investments |
Unlisted Investments |
Other Investments |
Total |
Valuations b/fwd | (922 | ) | - | (6,048 | ) | (6,970 |
Cost | 1,000 | 1,250 | 39,048 | 42,268 |
78 | 1,250 | 33,000 | 34,328 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
BRYONG LIMITED (REGISTERED NUMBER: 01555488) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2013 | 26,843 |
Valuation in 2016 | 43,000 |
Cost | 83,364 |
153,207 |
7. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
11. | RELATED PARTY DISCLOSURES |
An amount of £127,603 (2023: £127,603) shown as other debtors is owed from SCI Bryong European Limited at 31 March 2024. Bryong Limited owns 20% of the company's shareholding, with 80% of SCI Bryong European Limited owned by the directors of Bryong Limited. |