Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Mr A T Hooper 15/07/2013 Miss J Hooper 15/07/2013 14 May 2025 The principal activity of the company is property rental. 08610454 2024-09-30 08610454 bus:Director1 2024-09-30 08610454 bus:Director2 2024-09-30 08610454 2023-09-30 08610454 core:CurrentFinancialInstruments 2024-09-30 08610454 core:CurrentFinancialInstruments 2023-09-30 08610454 core:ShareCapital 2024-09-30 08610454 core:ShareCapital 2023-09-30 08610454 core:RevaluationReserve 2024-09-30 08610454 core:RevaluationReserve 2023-09-30 08610454 core:RetainedEarningsAccumulatedLosses 2024-09-30 08610454 core:RetainedEarningsAccumulatedLosses 2023-09-30 08610454 core:LandBuildings 2023-09-30 08610454 core:LandBuildings 2024-09-30 08610454 2023-10-01 2024-09-30 08610454 bus:FilletedAccounts 2023-10-01 2024-09-30 08610454 bus:SmallEntities 2023-10-01 2024-09-30 08610454 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08610454 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08610454 bus:Director1 2023-10-01 2024-09-30 08610454 bus:Director2 2023-10-01 2024-09-30 08610454 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 08610454 (England and Wales)

BRIXEYS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

BRIXEYS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

BRIXEYS LIMITED

BALANCE SHEET

As at 30 September 2024
BRIXEYS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 75,000 75,000
Investment property 4 600,000 600,000
675,000 675,000
Current assets
Debtors 2,550 1,030
Cash at bank and in hand 17,727 39,143
20,277 40,173
Creditors: amounts falling due within one year 5 ( 289,777) ( 328,141)
Net current liabilities (269,500) (287,968)
Total assets less current liabilities 405,500 387,032
Provision for liabilities ( 48,426) ( 48,426)
Net assets 357,074 338,606
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 41,295 41,295
Profit and loss account 315,679 297,211
Total shareholders' funds 357,074 338,606

Non-distributable reserves
Shareholders' funds includes unrealised gains less deferred tax on the revaluation of tangible fixed assets and investment properties amounting to £192,192 (2023 - £192,192) that are non-distributable.

For the financial year ending 30 September 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 Brixeys Limited (registered number: 08610454) were approved and authorised for issue by the Board of Directors on 14 May 2025. They were signed on its behalf by:

Miss J Hooper
Director
BRIXEYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
BRIXEYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Brixeys 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 South Farm, Tarrant Hinton, Blandford Forum, Dorset, DT11 8HX, 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probably that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Tax is recognised in profit or loss, 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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Tangible fixed assets

Tangible assets are initially stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Freehold land is periodically restated to fair value.

Land and buildings not depreciated
Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Classification

The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.


Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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

Land and buildings Total
£ £
Cost
At 01 October 2023 75,000 75,000
At 30 September 2024 75,000 75,000
Accumulated depreciation
At 01 October 2023 0 0
At 30 September 2024 0 0
Net book value
At 30 September 2024 75,000 75,000
At 30 September 2023 75,000 75,000

Included within the net book value of land and buildings above is £75,000 (2023 - £75,000) in respect of freehold land and buildings.

Revaluation
The fair value of the company's land was revalued on 30 June 2021 by an independent valuer. Valuation is on an open market basis, including consideration of the development potential. The name and qualification of the independent valuer are Symonds & Sampson LLP, Chartered Surveyors . Had this class of asset been measured on a historical cost basis, the carrying amount would have been £20,685 (2023 - £20,685).

4. Investment property

Investment property
£
Valuation
As at 01 October 2023 600,000
As at 30 September 2024 600,000

Freehold investment properties have been revalued on an open market basis as at June 2021.
Fair value has been based upon a market appraisal report prepared by an independent valuer.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 600 3,940
Amounts owed to Group undertakings 146,452 164,170
Taxation and social security 5,388 5,631
Other creditors 137,337 154,400
289,777 328,141

6. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Balance at start of period 164,170 166,084
Advanced 5,289 9,086
Repaid (23,006) (11,000)
Balance at end of period 146,452 164,170

Loan from 50% shareholder that is interest-free with no terms for repayment.

Transactions with the entity's directors

2024 2023
£ £
Balance at start of period 152,586 161,286
Advanced 2,000 4,000
Repaid (19,200) (12,700)
Balance at end of period 135,386 152,586

Interest-free loans from directors with no terms for repayment.