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REGISTERED NUMBER: SC642945 (Scotland)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Brown & Brown Ltd

Brown & Brown Ltd (Registered number: SC642945)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brown & Brown Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Dr R B Brown
Dr D Brown





REGISTERED OFFICE: Cornerstone House
Station Road
Selkirk
TD7 5DJ





REGISTERED NUMBER: SC642945 (Scotland)





ACCOUNTANTS: Dental Accountants Scotland Ltd
Specialist Dental Accountants & Advisors
Cornerstone House
Station Road
Selkirk
Borders
TD7 5DJ

Brown & Brown Ltd (Registered number: SC642945)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 134,015 142,359
Tangible assets 5 85,844 56,138
219,859 198,497

CURRENT ASSETS
Stocks 9,720 6,373
Debtors 6 7,558 121,493
Cash at bank and in hand 210,135 31,606
227,413 159,472
CREDITORS
Amounts falling due within one year 7 86,902 93,918
NET CURRENT ASSETS 140,511 65,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,370

264,051

CREDITORS
Amounts falling due after more than one year 8 (116,202 ) (115,829 )

PROVISIONS FOR LIABILITIES 10 (20,501 ) (9,776 )
NET ASSETS 223,667 138,446

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 223,567 138,346
SHAREHOLDERS' FUNDS 223,667 138,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Brown & Brown Ltd (Registered number: SC642945)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





Dr R B Brown - Director


Brown & Brown Ltd (Registered number: SC642945)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Brown & Brown Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Brown & Brown Ltd (Registered number: SC642945)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 166,882
AMORTISATION
At 1 May 2023 24,523
Amortisation for year 8,344
At 30 April 2024 32,867
NET BOOK VALUE
At 30 April 2024 134,015
At 30 April 2023 142,359

Brown & Brown Ltd (Registered number: SC642945)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 58,665 14,627 - 3,166 76,458
Additions - - 54,850 - 54,850
At 30 April 2024 58,665 14,627 54,850 3,166 131,308
DEPRECIATION
At 1 May 2023 14,190 4,749 - 1,381 20,320
Charge for year 8,895 1,481 13,713 1,055 25,144
At 30 April 2024 23,085 6,230 13,713 2,436 45,464
NET BOOK VALUE
At 30 April 2024 35,580 8,397 41,137 730 85,844
At 30 April 2023 44,475 9,878 - 1,785 56,138

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 7,558 1,747
Directors' current accounts - 119,746
7,558 121,493

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 9) 16,199 16,199
Hire purchase contracts 11,617 -
Tax 55,859 73,271
Pension payable 478 130
Directors' current accounts 30 -
Accrued expenses 2,719 4,318
86,902 93,918

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 9) 102,649 115,829
Hire purchase contracts 13,553 -
116,202 115,829

Brown & Brown Ltd (Registered number: SC642945)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 16,199 16,199

Amounts falling due between one and two years:
Bank loans - 1-2 years 16,199 16,199

Amounts falling due between two and five years:
Bank loans - 2-5 years 86,450 99,630

10. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 20,501 9,776

Deferred
tax
£   
Balance at 1 May 2023 9,776
Provided during year 10,725
Balance at 30 April 2024 20,501

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

Brown & Brown Ltd (Registered number: SC642945)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
Dr R B Brown
Balance outstanding at start of year 59,874 (84 )
Amounts advanced - 129,937
Amounts repaid (59,874 ) (69,979 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 59,874

Dr D Brown
Balance outstanding at start of year 59,874 (84 )
Amounts advanced - 142,946
Amounts repaid (59,874 ) (82,988 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 59,874