Company registration number 09113029 (England and Wales)
Brighouse Driveways Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Brighouse Driveways Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Brighouse Driveways Ltd
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
6
15,617
21,306
Current assets
Stocks
975
255
Debtors
7
18,048
57,451
Cash at bank and in hand
13,075
8,180
32,098
65,886
Creditors: amounts falling due within one year
8
(32,527)
(46,753)
Net current (liabilities)/assets
(429)
19,133
Total assets less current liabilities
15,188
40,439
Creditors: amounts falling due after more than one year
9
(13,850)
(23,175)
Net assets
1,338
17,264
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,238
17,164
Total equity
1,338
17,264
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 22 October 2024
D Brown
Director
Company registration number 09113029 (England and Wales)
Brighouse Driveways Ltd
Notes to the Financial Statements
for the year ended 31 March 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principle accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised on the provision of service obligations where a right to consideration is due.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Straight Line
Computers
25% Straight Line
Motor vehicles
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Brighouse Driveways Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
3
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
4,284
10,402
Adjustments in respect of prior periods
263
Total current tax
4,284
10,665
5
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
11,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
11,000
Carrying amount
At 31 March 2024
At 31 March 2023
Brighouse Driveways Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
- 4 -
6
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
58,078
837
39,347
98,262
Additions
4,250
4,250
At 31 March 2024
58,078
837
43,597
102,512
Depreciation and impairment
At 1 April 2023
41,316
152
35,488
76,956
Depreciation charged in the year
7,927
209
1,803
9,939
At 31 March 2024
49,243
361
37,291
86,895
Carrying amount
At 31 March 2024
8,835
476
6,306
15,617
At 31 March 2023
16,762
685
3,859
21,306
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,457
48,097
Corporation tax recoverable
3,326
Other debtors
5,284
Prepayments and accrued income
591
744
18,048
57,451
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
9,457
21,947
Corporation tax
5,360
10,402
Other taxation and social security
5,114
356
Other creditors
192
1,254
Accruals and deferred income
2,404
2,794
32,527
46,753
Brighouse Driveways Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
- 5 -
9
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
13,850
23,175
10
Company information
Brighouse Driveways Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 38 Cumberland Avenue, Huddersfield, West Yorkshire, HD2 2JJ.