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COMPANY REGISTRATION NUMBER: 3212717
Brown and Flaxman Limited
Unaudited financial statements
30 June 2024
Brown and Flaxman Limited
Statement of financial position
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,650,813
1,651,483
Investments
6
1
1
-----------
-----------
1,650,814
1,651,484
Current assets
Debtors
7
1,618
1,657
Cash at bank and in hand
104,613
137,931
---------
---------
106,231
139,588
Creditors: Amounts falling due within one year
8
( 91,051)
( 96,743)
---------
---------
Net current assets
15,180
42,845
-----------
-----------
Total assets less current liabilities
1,665,994
1,694,329
-----------
-----------
Capital and reserves
Called up share capital
150,000
150,000
Profit and loss account
9
1,515,994
1,544,329
-----------
-----------
Shareholders funds
1,665,994
1,694,329
-----------
-----------
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 income statement has not been delivered.
For the year ending 30 June 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 .
These financial statements were approved by the board of directors and authorised for issue on 15 January 2025 , and are signed on behalf of the board by:
G J Brown Jnr
S E Brown
Director
Director
Company registration number: 3212717
Brown and Flaxman Limited
Notes to the financial statements
Year ended 30 June 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 Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE. The trading address is 1/3 St Pauls Way, Great Yarmouth, Norfolk, NR30 4DD.
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 investment properties measured at fair value through profit or loss.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses, other than investment properties.
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:
Property for own use
-
2% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 3 (2023: 3 ).
5. Tangible assets
Investment property
Property for own use
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
1,624,740
44,790
1,669,530
-----------
-------
-----------
Depreciation
At 1 July 2023
18,047
18,047
Charge for the year
670
670
-----------
-------
-----------
At 30 June 2024
18,717
18,717
-----------
-------
-----------
Carrying amount
At 30 June 2024
1,624,740
26,073
1,650,813
-----------
-------
-----------
At 30 June 2023
1,624,740
26,743
1,651,483
-----------
-------
-----------
Included in property for own use is land costing £11,300 (2023: £11,300) which has not been depreciated. In the opinion of the directors the valuation of the freehold investment property is £1,624,740 (2023: £1,624,740).
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2023 and 30 June 2024
1
----
Impairment
At 1 July 2023 and 30 June 2024
----
Carrying amount
At 30 June 2024
1
----
At 30 June 2023
1
----
7. Debtors
2024
2023
£
£
Other debtors
1,618
1,657
------
------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Other creditors
91,051
96,743
-------
-------
9. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Within this reserve are cumulative unrealised gains of £474,953 on the company's investment properties shown at market value.
10. Directors' advances, credits and guarantees
During the year the company operated an interest free loan with the directors. As at the 30 June 2024 the company owed the directors £7,151 (2023: £4,003).