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Registered number: 07567065
Brown & Brown Design Associates Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 07567065
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,969 36,597
36,969 36,597
CURRENT ASSETS
Stocks 5 1,300 1,300
Debtors 6 47,298 61,576
Cash at bank and in hand 15,097 14,525
63,695 77,401
Creditors: Amounts Falling Due Within One Year 7 (48,371 ) (79,575 )
NET CURRENT ASSETS (LIABILITIES) 15,324 (2,174 )
TOTAL ASSETS LESS CURRENT LIABILITIES 52,293 34,423
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,580 ) (6,913 )
NET ASSETS 43,713 27,510
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 43,712 27,509
SHAREHOLDERS' FUNDS 43,713 27,510
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Oliver Brown
Director
27th October 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2023 1 31,695 31,696
Profit for the year and total comprehensive income - 33,814 33,814
Dividends paid - (38,000) (38,000)
As at 31 March 2024 and 1 April 2024 1 27,509 27,510
Profit for the year and total comprehensive income - 54,203 54,203
Dividends paid - (38,000) (38,000)
As at 31 March 2025 1 43,712 43,713
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Brown & Brown Design Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07567065 . The registered office is 1 London Road, Ipswich, IP1 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% on cost
Plant & Machinery 25% SL
Fixtures & Fittings 15% SL
Computer Equipment SL over 3 years
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 4,125 9,389 62,944 42,634 119,092
Additions - 714 - 5,310 6,024
Disposals - - - (851 ) (851 )
As at 31 March 2025 4,125 10,103 62,944 47,093 124,265
Depreciation
As at 1 April 2024 2,063 8,652 33,220 38,560 82,495
Provided during the period 206 341 2,796 2,201 5,544
Disposals - - - (743 ) (743 )
As at 31 March 2025 2,269 8,993 36,016 40,018 87,296
Net Book Value
As at 31 March 2025 1,856 1,110 26,928 7,075 36,969
As at 1 April 2024 2,062 737 29,724 4,074 36,597
5. Stocks
2025 2024
£ £
Work in progress 1,300 1,300
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 47,023 59,973
Prepayments and accrued income 275 1,603
47,298 61,576
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,946 11,212
Corporation tax 15,219 8,186
Other taxes and social security 2,849 1,252
VAT 2,325 11,685
Other creditors 4,558 3,904
Pension control account 936 451
Accruals and deferred income 1,500 4,686
Director's loan account 17,038 38,199
48,371 79,575
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
Page 6