Registered number
10888249
Brian and Brian Ltd
Filleted Accounts
31 October 2024
Brian and Brian Ltd
Registered number: 10888249
Balance Sheet
as at 31 October 2024
Notes 2024 2023
Fixed assets
Tangible assets 3 243,462 187,974
Current assets
Debtors 4 214,410 156,612
Cash at bank and in hand 83,542 71,438
297,952 228,050
Creditors: amounts falling due within one year 5 (256,464) (194,575)
Net current assets 41,488 33,475
Total assets less current liabilities 284,950 221,449
Creditors: amounts falling due after more than one year 6 (176,681) (170,486)
Net assets 108,269 50,963
Capital and reserves
Called up share capital 8 14 12
Share premium 99,996 49,998
Profit and loss account 8,259 953
Shareholders' funds 108,269 50,963
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Hudson-Evans
Director
Approved by the board on 26 March 2025
Brian and Brian Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Computer equipment over 3 years
Motor Vehicles over 3 to 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Grant income
Capital and revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
Cost
At 1 November 2023 82,560 220,270 302,830
Additions 23,206 99,058 122,264
Disposals - (46,370) (46,370)
At 31 October 2024 105,766 272,958 378,724
Depreciation
At 1 November 2023 21,548 93,308 114,856
Charge for the year 16,379 50,397 66,776
On disposals - (46,370) (46,370)
At 31 October 2024 37,927 97,335 135,262
Net book value
At 31 October 2024 67,839 175,623 243,462
At 31 October 2023 61,012 126,962 187,974
4 Debtors 2024 2023
Trade debtors 151,370 101,630
Other debtors 63,040 54,982
214,410 156,612
5 Creditors: amounts falling due within one year 2024 2023
Bank loans and overdrafts 7,013 6,995
Funding Circle loan 19,356 17,626
Obligations under finance lease and hire purchase contracts 42,237 43,176
Trade creditors 46,955 49,183
Taxation and social security costs 58,099 47,985
Other creditors 82,804 29,610
256,464 194,575
6 Creditors: amounts falling due after one year 2024 2023
Bank loans 4,091 11,100
Funding Circle loan 24,995 44,351
Obligations under finance lease and hire purchase contracts 147,595 115,035
176,681 170,486
7 Loans 2024 2023
Creditors include:
Instalments falling due for payment after more than five years 8,016 -
Secured hire purchase creditors 189,832 158,211
The hire purchase contracts are secured on specific assets owned by the company together with a personal guarantee given by a director. The bank loan is a Coronavirus Bounce Back Loan and is unsecured. The Funding Circle loan is a COVID business development loan and is unsecured.
8 Called up share capital
During the year, the company issued a further 210 ordinary shares of £0.01 each.
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
C Hudson-Evans
Directors current account 31,665 123,823 (112,800) 42,688
31,665 123,823 (112,800) 42,688
The overdrawn directors loan account will be repaid within the next 4 months.
10 Controlling party
The director considers that there is no individual controlling party.
11 Other information
Brian and Brian Ltd is a private company limited by shares and incorporated in England. Its registered office is:
37a Great Percy Street
London
WC1X 9RD
Brian and Brian Ltd 10888249 false 2023-11-01 2024-10-31 2024-10-31 VT Final Accounts April 2025 C Hudson-Evans No description of principal activity 10888249 2022-11-01 2023-10-31 10888249 core:WithinOneYear 2023-10-31 10888249 core:AfterOneYear 2023-10-31 10888249 core:ShareCapital 2023-10-31 10888249 core:SharePremium 2023-10-31 10888249 core:RetainedEarningsAccumulatedLosses 2023-10-31 10888249 2023-11-01 2024-10-31 10888249 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 10888249 bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 10888249 bus:Director40 2023-11-01 2024-10-31 10888249 1 2023-11-01 2024-10-31 10888249 2 2023-11-01 2024-10-31 10888249 core:PlantMachinery 2023-11-01 2024-10-31 10888249 core:Vehicles 2023-11-01 2024-10-31 10888249 bus:Director1 2023-11-01 2024-10-31 10888249 bus:Director1 1 2023-11-01 2024-10-31 10888249 countries:England 2023-11-01 2024-10-31 10888249 bus:FRS102 2023-11-01 2024-10-31 10888249 bus:FilletedAccounts 2023-11-01 2024-10-31 10888249 2024-10-31 10888249 core:WithinOneYear 2024-10-31 10888249 core:AfterOneYear 2024-10-31 10888249 core:ShareCapital 2024-10-31 10888249 core:SharePremium 2024-10-31 10888249 core:RetainedEarningsAccumulatedLosses 2024-10-31 10888249 core:PlantMachinery 2024-10-31 10888249 core:Vehicles 2024-10-31 10888249 bus:Director1 1 2024-10-31 10888249 2023-10-31 10888249 core:PlantMachinery 2023-10-31 10888249 core:Vehicles 2023-10-31 10888249 bus:Director1 1 2023-10-31 iso4217:GBP xbrli:pure