BRICE ROBINSON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2024
Company Registration Number: 10066400
BRICE ROBINSON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
BRICE ROBINSON LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024
DIRECTORS
Mr D Robinson
Mrs C Robinson
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
C9 Glyme Court
Oxford Office Village
Langford Lane
Kidlington
Oxford
OX5 1LQ
COMPANY REGISTRATION NUMBER
10066400 England and Wales
BRICE ROBINSON LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 5 1,042 1,389
Investments 6 1,542,695 1,542,695
1,543,737 1,544,084
CURRENT ASSETS
Debtors 7 1,524 5,643
Cash at bank and in hand 43,812 27,272
45,336 32,915
CREDITORS: Amounts falling due within one year 8 356,710 380,128
NET CURRENT LIABILITIES (311,374) (347,213)
TOTAL ASSETS LESS CURRENT LIABILITIES 1,232,363 1,196,871
CREDITORS: Amounts falling due after more than one year 9 396,616 426,438
Provisions for liabilities and charges 230 292
NET ASSETS 835,517 770,141
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 835,417 770,041
SHAREHOLDERS' FUNDS 835,517 770,141
BRICE ROBINSON LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
Mr D Robinson
Director
Date approved by the board: 6 May 2025
BRICE ROBINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
1 GENERAL INFORMATION
Brice Robinson Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
C9 Glyme Court Park House
Oxford Office Village E25 Telford Road
Langford Lane Bicester
Kidlington Oxfordshire
Oxford OX26 4LD
OX5 1LQ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. The company owes the directors £298,137, which could be required for repayment without notice. The company is therefore dependent upon the continued support of the directors. The directors do not consider their own support likely to be withdrawn.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of rent received as soon as there is a right to consideration. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
BRICE ROBINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Computer equipment Reducing balance basis at 25% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.
Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
BRICE ROBINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Payments received under operating leases are recognised as income over the lease term on a straight-line basis.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
BRICE ROBINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 2 2
5 TANGIBLE ASSETS
Computer equipment
£
Cost
At 1 December 2023 1,762
At 30 November 2024 1,762
Accumulated depreciation and impairments
At 1 December 2023 373
Charge for year 347
At 30 November 2024 720
Net book value
At 1 December 2023 1,389
At 30 November 2024 1,042
BRICE ROBINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
6 FIXED ASSET INVESTMENTS
Investment property
£
Cost
At 1 December 2023 1,542,695
At 30 November 2024 1,542,695
Net book value
At 1 December 2023 1,542,695
At 30 November 2024 1,542,695
The company has agreed a charge over the company's assets, specifically investment property with a carrying value of £1,542,695, as security for the bank loans.
7 DEBTORS
2024 2023
£ £
Prepayments and accrued income - 4,419
Other debtors 1,524 1,224
1,524 5,643
8 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 29,822 28,789
Taxation and social security 25,717 22,921
Accruals and deferred income 1,402 1,402
Other creditors 299,769 327,016
356,710 380,128
9 CREDITORS: Amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 396,616 426,438
Included in the amounts falling due after more than one year are the following amounts which are due in more
than five years:
2024 2023
£ £
Bank loans and overdrafts 300,569 333,720
BRICE ROBINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
10 SECURED DEBTS
The company has a bank loan with Lloyds which is secured on the investment property. This loan is due to be repaid over 20 years. The loan has a fixed interest rate of 3.736% for the first 10 years.
11 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Brice Robinson Holdings Ltd Immediate parent
During the year, the following transactions with related parties took place:
Mr & Mrs D Robinson
Directors 2024 2023
£ £
The directors have made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the directors the following amount.
298,137 325,385
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