Company Registration No. 11771612 (England and Wales)
BRACK DEVELOPMENTS LTD
Unaudited accounts
for the year ended 30 June 2024
BRACK DEVELOPMENTS LTD
Unaudited accounts
Contents
BRACK DEVELOPMENTS LTD
Company Information
for the year ended 30 June 2024
Director
Ryan James Rousseau
Company Number
11771612 (England and Wales)
Registered Office
7 Chancery Close
Lincoln
LN6 8SD
United Kingdom
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
BRACK DEVELOPMENTS LTD
Statement of financial position
as at 30 June 2024
Inventories
601,234
601,234
Cash at bank and in hand
(1,547)
46
Creditors: amounts falling due within one year
(15,729)
(16,371)
Net current assets
597,814
599,839
Total assets less current liabilities
598,150
600,283
Creditors: amounts falling due after more than one year
(306,789)
(304,133)
Net assets
291,361
296,150
Called up share capital
100
100
Capital contribution reserve
314,000
314,000
Profit and loss account
(22,739)
(17,950)
Shareholders' funds
291,361
296,150
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 March 2025 and were signed on its behalf by
Ryan James Rousseau
Director
Company Registration No. 11771612
BRACK DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 30 June 2024
BRACK DEVELOPMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 11771612. The registered office is 7 Chancery Close, Lincoln, LN6 8SD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Computer equipment
25% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completed construction.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.
BRACK DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
105
758
863
At 30 June 2024
105
758
863
Charge for the year
10
98
108
At 30 June 2024
62
465
527
At 30 June 2024
43
293
336
At 30 June 2023
53
391
444
Work in progress
601,234
601,234
Plot 1. (Billinghay) A two storey property as at June 30th 2024.
(Due to being a double storey building a 20% increase cost allocation has been
made against this Plot.)
Inventory value: £326,550
(Land value: £40,000 + Materials, labour, overheads apportionment: £286,550)
____________________________________________________________________________________
Plot 2. (Billinghay) A single storey property as at June 30th 2024.
Inventory value: £274,684
(Land value: £40,000 + Materials, labour, overheads apportionment: £234,684)
_____________________________________________________________________________________
Amounts falling due after more than one year
Other debtors
13,856
14,930
7
Creditors: amounts falling due within one year
2024
2023
Accrued costs £15,729
Interest £14,671
Accounting £1,058
BRACK DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 30 June 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
306,789
304,133
An external loan from the PJD Personal Injury Trust of: £306,679 cumulative to date.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
The director and minority shareholder of Brack Developments Ltd, Mr Ryan Rousseau is also a director and majority shareholder of RFBS Group Ltd registration number 13667912 (subsidiary within the group RFBS Accounting Ltd registration number 13667924)
Brack Developments Ltd has granted an unsecured loan of some £19,500 to RFBS Group Ltd as at June 30th 2022.
The repayment process has begun and the current loan balance stands at some £13,856 at June 30th 2024.
This loan is considered a long term debtor within these statements.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).