Company registration number 09272851 (England and Wales)
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
One Bell Lane
Lewes
East Sussex
BN7 1JU
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs L Martin
Mr A Simson
Company number
09272851
Registered office
5 Crescent Drive South
Brighton
East Sussex
BN2 6RA
Accountants
TC Group
One Bell Lane
Lewes
East Sussex
BN7 1JU
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,161,000
1,215,000
Investments
4
4,507,753
3,805,289
5,668,753
5,020,289
Current assets
Debtors
6
450
450
Cash at bank and in hand
446,818
533,605
447,268
534,055
Creditors: amounts falling due within one year
7
(11,524)
(13,346)
Net current assets
435,744
520,709
Total assets less current liabilities
6,104,497
5,540,998
Provisions for liabilities
(174,064)
(187,564)
Net assets
5,930,433
5,353,434
Capital and reserves
Called up share capital
8
200
200
Fair value reserves
1,012,631
1,012,631
Profit and loss reserves
4,917,602
4,340,603
Total equity
5,930,433
5,353,434
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
Mrs L Martin
Director
Company Registration No. 09272851
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information
Brighton Electrical Assemblies (Investments) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Crescent Drive South, Brighton, East Sussex, BN2 6RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of rental income. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Investment property
2024
£
Fair value
At 1 November 2023
1,215,000
Revaluations
(54,000)
At 31 October 2024
1,161,000
The fair value of the investment property has been arrived at by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
4
Fixed asset investments
2024
2023
£
£
Investments
4,507,753
3,805,289
The fair value of the international investment bonds has been calculated by St James's Place Wealth Management as at the balance sheet date.
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 November 2023
3,805,289
Valuation changes
702,464
At 31 October 2024
4,507,753
Carrying amount
At 31 October 2024
4,507,753
At 31 October 2023
3,805,289
5
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
4,507,752
3,805,288
Financial instruments measured at fair value consists of investment bonds. The increase in fair value of £259,399 (2022 - £305,755 decrease) has been included in the profit and loss account.
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
450
450
BRIGHTON ELECTRICAL ASSEMBLIES (INVESTMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
562
562
Corporation tax
3,527
4,967
Other creditors
7,435
7,817
11,524
13,346
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200