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Company Registration No. 07283402 (England and Wales)
Brown & Payne Ltd Unaudited accounts for the year ended 28 February 2025
Brown & Payne Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Brown & Payne Ltd Company Information for the year ended 28 February 2025
Director
Timothy Powley
Company Number
07283402 (England and Wales)
Registered Office
C/O Accountancy Plus 9 Langley Street Langley Norfolk NR14 6DE England
Accountants
Accountancy Plus & Payroll People Ltd 9 Langley Street Langley Norwich Norfolk NR14 6DE
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Brown & Payne Ltd Statement of financial position as at 28 February 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
29,035
39,348
Current assets
Debtors
5
29,267
23,603
Cash at bank and in hand
45,579
59,867
74,846
83,470
Creditors: amounts falling due within one year
6
(15,455)
(20,493)
Net current assets
59,391
62,977
Total assets less current liabilities
88,426
102,325
Creditors: amounts falling due after more than one year
7
(2,000)
(5,443)
Net assets
86,426
96,882
Capital and reserves
Called up share capital
10
10
Profit and loss account
86,416
96,872
Shareholders' funds
86,426
96,882
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 October 2025 and were signed on its behalf by
Timothy Powley Director Company Registration No. 07283402
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Brown & Payne Ltd Notes to the Accounts for the year ended 28 February 2025
1
Statutory information
Brown & Payne Ltd is a private company, limited by shares, registered in England and Wales, registration number 07283402. The registered office is C/O Accountancy Plus, 9 Langley Street, Langley, Norfolk, NR14 6DE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties and investment in ordinary shares.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
33% straight line
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash & cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable within penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible know amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measure subsequently at amortised cost using the effective interest method.
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Brown & Payne Ltd Notes to the Accounts for the year ended 28 February 2025
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Dividends
Equity dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final dividends are recognised when approved by the shareholders.
Going concern
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2024
2,072
63,235
1,615
2,571
69,493
At 28 February 2025
2,072
63,235
1,615
2,571
69,493
Depreciation
At 1 March 2024
931
27,063
1,072
1,079
30,145
Charge for the year
285
9,043
136
849
10,313
At 28 February 2025
1,216
36,106
1,208
1,928
40,458
Net book value
At 28 February 2025
856
27,129
407
643
29,035
At 29 February 2024
1,141
36,172
543
1,492
39,348
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
23,437
15,536
Accrued income and prepayments
830
910
Other debtors
5,000
7,157
29,267
23,603
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Brown & Payne Ltd Notes to the Accounts for the year ended 28 February 2025
6
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
3,821
4,539
Obligations under finance leases and hire purchase contracts
3,443
3,443
Trade creditors
2,270
5,252
Taxes and social security
5,015
736
Other creditors
170
742
Loans from directors
736
5,781
15,455
20,493
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
2,000
5,443
8
Pension commitments
The company operates a deferred contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The contribution to the scheme amounted to £1,547 (2024: £1,440).
9
Average number of employees
During the year the average number of employees was 6 (2024: 7).
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