BROOKS GIBBS LIMITED

Company Registration Number:
01556647 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

BROOKS GIBBS LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

BROOKS GIBBS LIMITED

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 76,650 76,314
Tangible assets: 4 661,008 673,417
Total fixed assets: 737,658 749,731
Current assets
Stocks: 379,263 441,999
Debtors:   102,513 131,993
Cash at bank and in hand: 1,380,057 1,370,788
Total current assets: 1,861,833 1,944,780
Creditors: amounts falling due within one year: 5 (521,059) (584,400)
Net current assets (liabilities): 1,340,774 1,360,380
Total assets less current liabilities: 2,078,432 2,110,111
Creditors: amounts falling due after more than one year: 6 (197,399) (221,773)
Provision for liabilities: (47,254) (43,991)
Total net assets (liabilities): 1,833,779 1,844,347
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,833,679 1,844,247
Shareholders funds: 1,833,779 1,844,347

The notes form part of these financial statements

BROOKS GIBBS LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 January 2025
and signed on behalf of the board by:

Name: M J Fellingham Esq
Status: Director

The notes form part of these financial statements

BROOKS GIBBS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tangible fixed assets and depreciation policy

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Leasehold property - Over period of the lease Plant and machinery - 15% on reducing balance Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance Office and computer equipment - 33.3% on reducing balance

Intangible fixed assets and amortisation policy

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Website Straight line basis over 3 years Goodwill Straight line basis over 20 years

Valuation and information policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Other accounting policies

Defined contribution pension obligation A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

BROOKS GIBBS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 14 14

BROOKS GIBBS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Intangible Assets

Total
Cost £
At 01 May 2023 124,317
Additions 10,685
Disposals (28,865)
At 30 April 2024 106,137
Amortisation
At 01 May 2023 48,003
Charge for year 9,738
On disposals (28,254)
At 30 April 2024 29,487
Net book value
At 30 April 2024 76,650
At 30 April 2023 76,314

BROOKS GIBBS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Tangible Assets

Total
Cost £
At 01 May 2023 879,674
Additions 46,337
Disposals (20,093)
At 30 April 2024 905,918
Depreciation
At 01 May 2023 206,257
Charge for year 43,441
On disposals (4,788)
At 30 April 2024 244,910
Net book value
At 30 April 2024 661,008
At 30 April 2023 673,417

BROOKS GIBBS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £40558 (2023 - £39330).

BROOKS GIBBS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Creditors: amounts falling due after more than one year note

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £197399 (2023 - £221773)

BROOKS GIBBS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

7. Related party transactions

Name of the related party: The Pentagon Partnership and Beds Are Uzzz Online Limited
Relationship:
Majority owner
Description of the Transaction: The company buys and sells goods, pays rent and franchise fees and receives income for management and administration fees. All transactions are invoiced and payable under the Company'susual trading terms.
£
Balance at 01 May 2023 7,047
Balance at 30 April 2024 6,824