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Registered number: 08877636
Brisan Accountancy Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08877636
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 59,750 37,000
Tangible Assets 4 37,056 42,306
96,806 79,306
CURRENT ASSETS
Stocks 5 41,577 30,782
Debtors 6 133,441 92,602
Cash at bank and in hand 15,204 93,257
190,222 216,641
Creditors: Amounts Falling Due Within One Year 7 (135,607 ) (80,738 )
NET CURRENT ASSETS (LIABILITIES) 54,615 135,903
TOTAL ASSETS LESS CURRENT LIABILITIES 151,421 215,209
Creditors: Amounts Falling Due After More Than One Year 8 (88,324 ) (151,997 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (6,904 ) (6,709 )
NET ASSETS 56,193 56,503
CAPITAL AND RESERVES
Called up share capital 10 200 100
Profit and Loss Account 55,993 56,403
SHAREHOLDERS' FUNDS 56,193 56,503
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Kensington
Director
29 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
1.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. 
Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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1.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 14)
15 14
3. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 42,500
Additions 30,000
As at 28 February 2024 72,500
Amortisation
As at 1 March 2023 5,500
Provided during the period 7,250
As at 28 February 2024 12,750
Net Book Value
As at 28 February 2024 59,750
As at 1 March 2023 37,000
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 36,425 30,286 66,711
Additions 3,565 7,823 11,388
As at 28 February 2024 39,990 38,109 78,099
Depreciation
As at 1 March 2023 9,969 14,436 24,405
Provided during the period 6,601 10,037 16,638
As at 28 February 2024 16,570 24,473 41,043
Net Book Value
As at 28 February 2024 23,420 13,636 37,056
As at 1 March 2023 26,456 15,850 42,306
5. Stocks
2024 2023
£ £
Work in progress 41,577 30,782
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 129,098 82,954
Prepayments and accrued income 4,343 9,648
133,441 92,602
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,629 7,537
Bank loans and overdrafts 27,418 27,506
Corporation tax 6,483 2,212
Other taxes and social security 21,660 -
VAT 38,752 34,221
Other creditors 25,665 9,262
Director's loan account 10,000 -
135,607 80,738
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 88,324 115,636
Directors loan account - 36,361
88,324 151,997
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 6,904 6,709
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 100
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans due to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Christopher Kensington 36,361 26,361 - - 10,000
The above loan is unsecured, repayable on demand and ranks equally with the creditors of the company. 
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr C Kensington by virtue of his ownership of 90% of the issued share capital in the company.
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