2023-04-012024-03-312024-03-31falseSC380502BRIGGS BUILDING 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BRIGGS BUILDING LTD

Registered Number
SC380502
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

BRIGGS BUILDING LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

KENNEDY, Graham Thomas
WILSON, David

Registered Address

12 Balmuildy Road
Bishopbriggs
Glasgow
G64 3BS

Registered Number

SC380502 (Scotland)
BRIGGS BUILDING LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets418,13610,728
18,13610,728
Current assets
Stocks-123,902
Debtors5131,43921,648
Cash at bank and on hand515,851169,512
647,290315,062
Creditors amounts falling due within one year6(172,002)(140,984)
Net current assets (liabilities)475,288174,078
Total assets less current liabilities493,424184,806
Provisions for liabilities7(3,284)(2,380)
Net assets490,140182,426
Capital and reserves
Called up share capital100100
Profit and loss account490,040182,326
Shareholders' funds490,140182,426
The financial statements were approved and authorised for issue by the Board of Directors on 14 May 2024, and are signed on its behalf by:
WILSON, David
Director
Registered Company No. SC380502
BRIGGS BUILDING LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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 rendering of services.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year76
3.Intangible assets

Total

£
Cost or valuation
At 01 April 23100,000
At 31 March 24100,000
Amortisation and impairment
At 01 April 23100,000
At 31 March 24100,000
Net book value
At 31 March 24-
At 31 March 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2351,123
Additions10,000
At 31 March 2461,123
Depreciation and impairment
At 01 April 2340,394
Charge for year2,593
At 31 March 2442,987
Net book value
At 31 March 2418,136
At 31 March 2310,728
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables113,215-
Other debtors13,38120,612
Prepayments and accrued income4,8431,036
Total131,43921,648
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,45619,782
Taxation and social security89,97814,584
Other creditors49,531103,067
Accrued liabilities and deferred income22,0373,551
Total172,002140,984
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,2842,380
Total3,2842,380
8.Directors advances, credits and guarantees
At the year end, there is a balance owed to G T Kennedy by the company of £32,411 (2022: £92,741).
9.Controlling party
The controlling party is G T Kennedy.