2023-03-082024-03-312024-03-31false14714420Bric Developments 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Bric Developments Limited

Registered Number
14714420
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2024

Bric Developments Limited
Company Information
for the period from 8 March 2023 to 31 March 2024

Directors

D Patel
T Rehman

Registered Address

8 Spur Road
Portsmouth
PO6 3EB

Registered Number

14714420 (England and Wales)
Bric Developments Limited
Balance Sheet as at
31 March 2024

Notes

2024

£

£

Current assets
Debtors698,825
Cash at bank and on hand13,402
712,227
Creditors amounts falling due within one year(709,440)
Net current assets (liabilities)2,787
Total assets less current liabilities2,787
Net assets2,787
Capital and reserves
Called up share capital100
Profit and loss account2,687
Shareholders' funds2,787
The financial statements were approved and authorised for issue by the Board of Directors on 7 March 2025, and are signed on its behalf by:
T Rehman
Director
Registered Company No. 14714420
Bric Developments Limited
Notes to the Financial Statements
for the period ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.Average number of employees

2024
Average number of employees during the year3