Paul Braybrooke Limited 04897552 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is installation of oil tanks and boilers Digita Accounts Production Advanced 6.30.9574.0 true true 04897552 2023-04-01 2024-03-31 04897552 2024-03-31 04897552 bus:OrdinaryShareClass1 2024-03-31 04897552 core:CurrentFinancialInstruments 2024-03-31 04897552 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04897552 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04897552 core:FurnitureFittingsToolsEquipment 2024-03-31 04897552 core:MotorVehicles 2024-03-31 04897552 core:OtherPropertyPlantEquipment 2024-03-31 04897552 1 2024-03-31 04897552 2 2024-03-31 04897552 bus:SmallEntities 2023-04-01 2024-03-31 04897552 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04897552 bus:FilletedAccounts 2023-04-01 2024-03-31 04897552 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04897552 bus:RegisteredOffice 2023-04-01 2024-03-31 04897552 bus:Director1 2023-04-01 2024-03-31 04897552 bus:Director2 2023-04-01 2024-03-31 04897552 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04897552 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04897552 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04897552 core:MotorVehicles 2023-04-01 2024-03-31 04897552 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 04897552 countries:AllCountries 2023-04-01 2024-03-31 04897552 1 2023-04-01 2024-03-31 04897552 2 2023-04-01 2024-03-31 04897552 2023-03-31 04897552 core:FurnitureFittingsToolsEquipment 2023-03-31 04897552 core:MotorVehicles 2023-03-31 04897552 core:OtherPropertyPlantEquipment 2023-03-31 04897552 1 2023-03-31 04897552 2 2023-03-31 04897552 2022-04-01 2023-03-31 04897552 2023-03-31 04897552 bus:OrdinaryShareClass1 2023-03-31 04897552 core:CurrentFinancialInstruments 2023-03-31 04897552 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04897552 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 04897552 core:FurnitureFittingsToolsEquipment 2023-03-31 04897552 core:MotorVehicles 2023-03-31 04897552 core:OtherPropertyPlantEquipment 2023-03-31 04897552 1 2023-03-31 04897552 1 2022-04-01 2023-03-31 04897552 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04897552

Paul Braybrooke Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Paul Braybrooke Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 11

 

Paul Braybrooke Limited

Company Information

Directors

Mr Paul Braybrooke

Mrs Sally Braybrooke

Registered office

Red Shoes Accounting Services
Unit 7 E-Space North
181 Wisbech Road
Littleport
Cambridgeshire
CB6 1RA

Accountants

Mrs Victoria Anne Cooper
Red Shoes Accounting Services
Unit 7 E-Space North
181 Wisbech Road
Littleport
Cambridgeshire
CB6 1RA

 

Paul Braybrooke Limited

(Registration number: 04897552)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,490

19,320

Current assets

 

Debtors

5

476,660

335,380

Creditors: Amounts falling due within one year

6

(525,274)

(340,614)

Net current liabilities

 

(48,614)

(5,234)

Total assets less current liabilities

 

(34,124)

14,086

Creditors: Amounts falling due after more than one year

6

(20,439)

(14,084)

Provisions for liabilities

(3,621)

(3,621)

Net liabilities

 

(58,184)

(3,619)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(58,186)

(3,621)

Shareholders' deficit

 

(58,184)

(3,619)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

Mr Paul Braybrooke
Director

   
     
 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Red Shoes Accounting Services
Unit 7 E-Space North
181 Wisbech Road
Littleport
Cambridgeshire
CB6 1RA
England and Wales

FRS 102 was not applied to the most recent annual financial statements as they were a micro sized company.

These financial statements were authorised for issue by the Board on 11 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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

 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

3,575

57,601

236

61,412

At 31 March 2024

3,575

57,601

236

61,412

Depreciation

At 1 April 2023

3,268

38,640

184

42,092

Charge for the year

77

4,740

13

4,830

At 31 March 2024

3,345

43,380

197

46,922

Carrying amount

At 31 March 2024

230

14,221

39

14,490

At 31 March 2023

307

18,961

52

19,320

5

Debtors

Current

2024
£

2023
£

Trade debtors

60,000

80,000

Other debtors

416,660

255,380

 

476,660

335,380

 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

45,084

49,665

Trade creditors

 

398,277

250,495

Taxation and social security

 

78,913

37,454

Accruals and deferred income

 

3,000

3,000

 

525,274

340,614

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

20,439

14,084

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

189,211

115,454

(19,554)

285,111

-

-

-

-

189,211

115,454

(19,554)

285,111

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

118,730

107,331

(36,850)

189,211

118,730

107,331

(36,850)

189,211

 

 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Transition to FRS 102

The transition from FRS 105 to FRS 102 Section 1A required deferred tax of £4,833 to be recognised in the opening balance sheet of 1 April 2022. A reversal of the timing difference reduced the deferred tax by £1,212 during the year ended 31 March 2023. The retained earnings at 31 March 2023 therefore reduced by £3,621.

Balance Sheet at 1 April 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

25,754

-

-

25,754

Current assets

Debtors

152,493

-

-

152,493

Cash at bank and in hand

39,826

-

-

39,826

192,319

-

-

192,319

Creditors: Amounts falling due within one year

(218,071)

-

-

(218,071)

Net current liabilities

(25,752)

-

-

(25,752)

Total assets less current liabilities

2

-

-

2

Provisions for liabilities

-

-

(4,833)

(4,833)

Net assets/(liabilities)

2

-

(4,833)

(4,831)

 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Called up share capital

(2)

-

-

(2)

Retained earnings

-

-

4,833

4,833

Total equity

(2)

-

4,833

4,831

 

Paul Braybrooke Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Balance Sheet at 31 March 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

19,320

-

-

19,320

Current assets

Debtors

335,380

-

-

335,380

Creditors: Amounts falling due within one year

(354,698)

-

-

(354,698)

Net current liabilities

(19,318)

-

-

(19,318)

Total assets less current liabilities

2

-

-

2

Provisions for liabilities

-

-

(3,621)

(3,621)

Net assets/(liabilities)

2

-

(3,621)

(3,619)

Capital and reserves

Called up share capital

(2)

-

-

(2)

Retained earnings

-

-

3,621

3,621

Total equity

(2)

-

3,621

3,619