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COMPANY REGISTRATION NUMBER: NI614192
Trevor Brown Associates Ltd
Filleted Unaudited Financial Statements
30 September 2024
Trevor Brown Associates Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
128,484
141,661
Current assets
Debtors
5
216,882
216,104
Cash at bank and in hand
64,622
---------
---------
216,882
280,726
Creditors: amounts falling due within one year
6
879,627
852,667
---------
---------
Net current liabilities
662,745
571,941
---------
---------
Total assets less current liabilities
( 534,261)
( 430,280)
Provisions
Taxation including deferred tax
( 244,769)
( 221,094)
---------
---------
Net liabilities
( 289,492)
( 209,186)
---------
---------
Capital and reserves
Called up share capital
10
10
Profit and loss account
( 289,502)
( 209,196)
---------
---------
Shareholder deficit
( 289,492)
( 209,186)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Trevor Brown Associates Ltd
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
Mr Trevor Francis Brown
Director
Company registration number: NI614192
Trevor Brown Associates Ltd
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Forsyth House, Cromac Square, Belfast, BT2 8LA, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
All fixed assets are initially recorded at cost. Fixed asset investments are measured at the lower of cost and net realisable value. Net realisable value is taken to be the market value at the balance sheet date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
2% - 10% Straight line
Plant and machinery
-
10% straight line
Fixtures and fittings
-
20% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
210,115
676,149
7,935
81,239
975,438
---------
---------
-------
--------
---------
Depreciation
At 1 October 2023
73,388
674,590
7,935
77,864
833,777
Charge for the year
9,282
520
3,375
13,177
---------
---------
-------
--------
---------
At 30 September 2024
82,670
675,110
7,935
81,239
846,954
---------
---------
-------
--------
---------
Carrying amount
At 30 September 2024
127,445
1,039
128,484
---------
---------
-------
--------
---------
At 30 September 2023
136,727
1,559
3,375
141,661
---------
---------
-------
--------
---------
5. Debtors
2024
2023
£
£
Trade debtors
1,590
2,695
Other debtors
215,292
213,409
---------
---------
216,882
216,104
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
83,784
81,093
Trade creditors
( 27)
4,202
Other creditors
795,870
767,372
---------
---------
879,627
852,667
---------
---------
Bank loans and overdrafts includes an amount of £36,626 due to the Ulster Bank Limited. This loan is secured by a charge on the commercial property at 6 Seacliff Road, Bangor, Co. Down.
Other creditors includes a loan of £400,000 due to Algest SE. This loan is secured by a Chattel Mortgage and fixed charge on equipment owned by the company as listed in Schedule 1 to the deed. There is also a Chattel Mortgage and fixed charge with European Capital Markets Ltd which is secured on equipment owned by the company as listed in Schedule 1 to the deed.
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Trevor Francis Brown
( 191,413)
( 5,500)
( 196,913)
---------
-------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Trevor Francis Brown
( 192,863)
1,450
( 191,413)
---------
-------
---------
8. Related party transactions
The company was under the control of Mr Trevor Brown throughout the current year. Mr Brown is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8, Related Party Disclosures.