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D A BROWNE & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Registered number: 06305313

 
D A BROWNE & SON LIMITED
REGISTERED NUMBER:06305313

ABRIDGED BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
33,483
43,283

Tangible assets
 5 
295,123
294,902

  
328,606
338,185

Current assets
  

Stocks
  
20,000
21,800

Debtors
  
22,719
26,806

Cash at bank and in hand
  
64,779
41,472

  
107,498
90,078

Creditors: amounts falling due within one year
  
(103,713)
(123,203)

Net current assets/(liabilities)
  
 
 
3,785
 
 
(33,125)

Total assets less current liabilities
  
332,391
305,060

Provisions for liabilities
  
(17,426)
(13,671)

Net assets
  
£314,965
£291,389


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
314,865
291,289

  
£314,965
£291,389


Page 1

 
D A BROWNE & SON LIMITED
REGISTERED NUMBER:06305313

ABRIDGED BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The abridged 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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The abridged financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 November 2024.




D G Browne
J I Browne
Director
Director

The notes on pages 3 to 6 form part of these abridged financial statements.

Page 2

 
D A BROWNE & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

D A Browne & Son Limited is a private company, limited by shares, domiciled in England and Wales, registration number 06305313. The Company's two principal places of business are 29 St. Nicholas Street, Diss, Norfolk, IP22 4LB and 35 The Thoroughfare, Harleston, Norfolk, IP20 9AS.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of meat and associated products supplied by the Company, exclusive of Value Added Tax.

 
2.3

Intangible assets

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Statement of Comprehensive Income over its estimated economic life of twenty years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives.

Depreciation is provided on the following basis:

Freehold business premises
-
2% straight line
Motor vehicles
-
25% reducing balance
Fixtures, fittings & equipment
-
15% reducing balance

A full years depreciation charge is provided in the year of acquisition and none in the year of disposal.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value.

 
2.6

Debtors

Debtors are measured at transaction price, less any impairment for bad or doubtful debts.

Page 3

 
D A BROWNE & SON LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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

Financial instruments

The Company only enters into basic financial instruments 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.

 
2.9

Creditors

Creditors are measured at transaction price.

 
2.10

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.

 
2.11

Interest income

Interest income is recognised in the Statement of Comprehensive Income in the year in which it is received.

  
2.12

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 Statement of Comprehensive Income 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.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
D A BROWNE & SON LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The taxation expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income.
The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.
The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 12).


4.


Intangible assets





£



Cost


At 1 April 2023
196,000



At 31 March 2024

196,000



Amortisation


At 1 April 2023
152,717


Charge for the year on owned assets
9,800



At 31 March 2024

162,517



Net book value



At 31 March 2024
£33,483



At 31 March 2023
£43,283



Page 5

 
D A BROWNE & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Freehold Land & Buildings
Motor Vehicles
Fixtures, Fittings & Equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
254,927
42,245
130,820
427,992


Additions
-
22,790
2,858
25,648


Disposals
-
(20,850)
-
(20,850)



At 31 March 2024

254,927
44,185
133,678
432,790



Depreciation


At 1 April 2023
31,979
23,846
77,265
133,090


Charge for the year on owned assets
4,899
9,710
8,465
23,074


Disposals
-
(18,497)
-
(18,497)



At 31 March 2024

36,878
15,059
85,730
137,667



Net book value



At 31 March 2024
£218,049
£29,126
£47,948
£295,123



At 31 March 2023
£222,948
£18,399
£53,555
£294,902

Included in freehold land and buildings is freehold land at a cost of £10,000 (2023 - £10,000) which is not depreciated.


Page 6