Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Dr Julian Martin Brown 24/05/2016 Wendy Brown 24/05/2016 24 February 2025 The principal activities of the Company during the financial year was that of a specialist medical practice and other letting and operating of own or leased real estate. 10195571 2024-05-31 10195571 bus:Director1 2024-05-31 10195571 bus:Director2 2024-05-31 10195571 2023-05-31 10195571 core:CurrentFinancialInstruments 2024-05-31 10195571 core:CurrentFinancialInstruments 2023-05-31 10195571 core:Non-currentFinancialInstruments 2024-05-31 10195571 core:Non-currentFinancialInstruments 2023-05-31 10195571 core:ShareCapital 2024-05-31 10195571 core:ShareCapital 2023-05-31 10195571 core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 10195571 core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 10195571 core:RetainedEarningsAccumulatedLosses 2024-05-31 10195571 core:RetainedEarningsAccumulatedLosses 2023-05-31 10195571 core:OtherPropertyPlantEquipment 2023-05-31 10195571 core:OtherPropertyPlantEquipment 2024-05-31 10195571 core:CostValuation 2023-05-31 10195571 core:AdditionsToInvestments 2024-05-31 10195571 core:DisposalsRepaymentsInvestments 2024-05-31 10195571 core:RevaluationsIncreaseDecreaseInInvestments 2024-05-31 10195571 core:CostValuation 2024-05-31 10195571 core:MoreThanFiveYears 2024-05-31 10195571 core:MoreThanFiveYears 2023-05-31 10195571 2023-06-01 2024-05-31 10195571 bus:FilletedAccounts 2023-06-01 2024-05-31 10195571 bus:SmallEntities 2023-06-01 2024-05-31 10195571 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10195571 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10195571 bus:Director1 2023-06-01 2024-05-31 10195571 bus:Director2 2023-06-01 2024-05-31 10195571 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-06-01 2024-05-31 10195571 2022-06-01 2023-05-31 10195571 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 10195571 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 10195571 (England and Wales)

W&J BROWN LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

W&J BROWN LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

W&J BROWN LIMITED

BALANCE SHEET

As at 31 May 2024
W&J BROWN LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,403 601
Investment property 4 808,520 440,000
Investments 5 98,070 147,848
907,993 588,449
Current assets
Debtors 6 14,420 10,794
Cash at bank and in hand 10,584 109,455
25,004 120,249
Creditors: amounts falling due within one year 7 ( 105,404) ( 120,832)
Net current liabilities (80,400) (583)
Total assets less current liabilities 827,593 587,866
Creditors: amounts falling due after more than one year 8 ( 568,160) ( 325,080)
Provision for liabilities ( 8,465) ( 8,224)
Net assets 250,968 254,562
Capital and reserves
Called-up share capital 110 110
Fair value reserve 34,504 30,402
Profit and loss account 216,354 224,050
Total shareholders' funds 250,968 254,562

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of W&J Brown Limited (registered number: 10195571) were approved and authorised for issue by the Board of Directors on 24 February 2025. They were signed on its behalf by:

Dr Julian Martin Brown
Director
W&J BROWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
W&J BROWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W&J Brown Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5th Floor 25 King Street, Bristol, BS1 4PB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of medical services or rental lettings. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the medical services are provided to the customer, or as the rental period takes place.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Other non-operating income

Other non-operating income is the fair value movement of the investment property and investments held by the company. This also includes profit or loss on disposal of investments sold during the year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are initially measured at cost, and subsequently measured at fair value through the Profit and Loss Account.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2023 2,890 2,890
Additions 1,198 1,198
At 31 May 2024 4,088 4,088
Accumulated depreciation
At 01 June 2023 2,289 2,289
Charge for the financial year 396 396
At 31 May 2024 2,685 2,685
Net book value
At 31 May 2024 1,403 1,403
At 31 May 2023 601 601

4. Investment property

Investment property
£
Valuation
As at 01 June 2023 440,000
Additions 368,520
As at 31 May 2024 808,520

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £808,520 (2023 - £440,000).

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 June 2023 147,848 147,848
Additions 4,000 4,000
Disposals ( 70,133) ( 70,133)
Movement in fair value 16,355 16,355
At 31 May 2024 98,070 98,070
Carrying value at 31 May 2024 98,070 98,070
Carrying value at 31 May 2023 147,848 147,848

6. Debtors

2024 2023
£ £
Trade debtors 14,300 9,794
Other debtors 120 1,000
14,420 10,794

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 17,276 6,433
Other creditors 88,128 114,399
105,404 120,832

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 568,160 325,080

The bank loans are secured against the company's investment properties.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured) 568,160 325,080