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COMPANY REGISTRATION NUMBER: 10271654
Bran Investments Limited
Filleted Unaudited Financial Statements
31 March 2024
Bran Investments Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
26,617
36,103
Investments
6
8
--------
--------
26,617
36,111
Current assets
Debtors
7
4,966,226
4,808,467
Cash at bank and in hand
28,330
29,072
------------
------------
4,994,556
4,837,539
Creditors: amounts falling due within one year
8
5,827,491
5,345,263
------------
------------
Net current liabilities
832,935
507,724
---------
---------
Total assets less current liabilities
( 806,318)
( 471,613)
Creditors: amounts falling due after more than one year
9
25,988
30,789
---------
---------
Net liabilities
( 832,306)
( 502,402)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 832,307)
( 502,403)
---------
---------
Shareholders deficit
( 832,306)
( 502,402)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bran Investments Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 20 December 2024 , and are signed on behalf of the board by:
Mr A Goyal
Director
Company registration number: 10271654
Bran Investments Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mayflower House, 128A High Street, Billericay, CM12 9XE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this period.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
50
49,935
3,632
53,617
----
--------
-------
--------
Depreciation
At 1 April 2023
8
15,214
2,292
17,514
Charge for the year
10
8,681
795
9,486
----
--------
-------
--------
At 31 March 2024
18
23,895
3,087
27,000
----
--------
-------
--------
Carrying amount
At 31 March 2024
32
26,040
545
26,617
----
--------
-------
--------
At 31 March 2023
42
34,721
1,340
36,103
----
--------
-------
--------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
8
----
Impairment
At 1 April 2023
Impairment losses
8
----
At 31 March 2024
8
----
Carrying amount
At 31 March 2024
----
At 31 March 2023
8
----
The company has 4 subsidiaries and owns 100% of the issued share capital in Bran Developments 1 Limited, Bran Developments 2 Limited, Bran Developments 3 Limited, and Bran Developments 4 Limited. Each company has 2 ordinary shares of £1 each. These have all been dissolved on 28 May 2024.
7. Debtors
2024
2023
£
£
Trade debtors
6
4,873
Amounts owed by group undertakings
128
Prepayments and accrued income
84,757
722
Corporation tax recoverable
3,388
Other debtors
4,881,463
4,799,356
------------
------------
4,966,226
4,808,467
------------
------------
Other debtors include £4,877,120 (2023 £4,797,031) due from companies connected to the directors. From November 2023, interest was charged on one loan of £2,010,168 at a rate of 10%. The other loans are interest free and repayable on demand.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,793
14,740
Amounts owed to group undertakings
6
Accruals and deferred income
512,998
223,765
Social security and other taxes
285
1,607
Obligations under finance leases and hire purchase contracts
4,801
4,365
Loan finance received
5,300,027
5,100,027
Other creditors
1,587
753
------------
------------
5,827,491
5,345,263
------------
------------
Loan finance stated above was received from an individual and companies connected to the directors .
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
25,988
30,789
--------
--------