Brusby Surveyors Limited


Directors	A M Brusby
	P J Hoggard


Registered Address	34 Lowerdale Elloughton
	Brough
	HU15 1SD


Registered Number	11025669 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4
	Vehicles	4
	Office Equipment	4

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	8,438	18,995	6,851	34,284
Additions	6,707	41,435	-	48,142
Disposals	(6,750)	(18,995)	-	(25,745)
At 31 March 25	8,395	41,435	6,851	56,681
Depreciation and impairment
At 01 April 24	5,678	18,600	5,312	29,590
Charge for year	2,418	934	873	4,225
On disposals	(6,749)	(18,995)	-	(25,744)
At 31 March 25	1,347	539	6,185	8,071
Net book value
At 31 March 25	7,048	40,896	666	48,610
At 31 March 24	2,760	395	1,539	4,694

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Amounts owed by associates and joint ventures / participating interests	4,039	-
Prepayments and accrued income	-	813
Total	4,039	813


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	5,265	3,300
Amounts owed to related parties	-	40
Taxation and social security	6,406	7,938
Finance lease and HP contracts	6,611	1,687
Accrued liabilities and deferred income	2,970	950
Total	21,252	13,915


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £3,300 (2024 £3,300) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in May 2026.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £3,300 (2024 £3,300) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in May 2026.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	4,479	3,850
Other creditors	34,965	141
Total	39,444	3,991


	Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £550 (2024 £3,850) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in May 2026.

Long term creditors are measured at transaction price (which is usually the invoice price).  Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £550 (2024 £3,850) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in May 2026.

7.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	41,576		1,828


	The company leases a motor vehicle under a finance lease. The net book value of the leased vehicle at 31 March 2025 was £40,896 (2024: £nil). The total minimum future lease payments amount to £25,341, payable over the next four years. The lease is secured on the related vehicle.

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	1,466	892
Total	1,466	892

9.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
A M Brusby	0	2,020	0	2,020
P J Hoggard	0	2,019	0	2,019
	0	4,039	0	4,039

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		48,610		4,694
			48,610		4,694
Current assets
Debtors	4	4,039		813
Cash at bank and on hand		9,745		13,542
		13,784		14,355
Creditors amounts falling due within one year	5	(21,252)		(13,915)
Net current assets (liabilities)			(7,468)		440
Total assets less current liabilities			41,142		5,134
Creditors amounts falling due after one year	6		(39,444)		(3,991)
Provisions for liabilities	8		(1,466)		(892)
Net assets			232		251
Capital and reserves
Called up share capital			100		100
Profit and loss account			132		151
Shareholders' funds			232		251