BROWN & KELLY LTD


Directors	RIANGANAND AL CHAM RAS, Aswin
	TAY, Hannah Fong Ling


Registered Address	21 City Island Way
	Arebyte Studios, Harmony Building Unit 16
	London
	E14 0QE


Registered Number	10216072 (England and Wales)

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

1.	Accounting policies

	Statutory information
	BROWN & KELLY LTD is a private company limited by shares and incorporated in England and Wales. Its registered office is 21 City Island Way, Arebyte Studios, Harmony Building Unit 16, London, England, E14 0QE.

	Statement of compliance
	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 £.

Statement of compliance

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 £.

	Turnover policy
	Turnover represents the amount invoiced, excluding value added tax, adjusted for accrued revenue calculated by reference to the fair value of services performed to the balance sheet date but not invoiced.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	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.

Current taxation

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.

	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. The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt
with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

	Tangible fixed assets and depreciation
	Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:


		Straight line (years)
	Fixtures and fittings	5
	Office Equipment	5

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks and work in progress
	Stocks are stated at the lower of cost and estimated selling price less costs to sell. Inventories are recognised as an expense in the period in which the related revenue is recognised.

	Financial instruments
	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. 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. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from a fellow group of companies and preferences shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debts instruments are 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.

Financial instruments

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.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from a fellow group of companies and preferences shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debts instruments are 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.

2.	Average number of employees
	The average monthly number of employees mentioned above includes directors.


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 April 24	210	10,913	11,123
At 31 March 25	210	10,913	11,123
Depreciation and impairment
At 01 April 24	137	7,592	7,729
Charge for year	25	1,238	1,263
At 31 March 25	162	8,830	8,992
Net book value
At 31 March 25	48	2,083	2,131
At 31 March 24	73	3,321	3,394

4.	Fixed asset investments

5.	Stocks

	2025	2024
	£	£
Other stocks	-	834
Total	-	834

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	11,400	12,577
Other debtors	165,112	98,691
Prepayments and accrued income	4,307	282
Total	180,819	111,550


	Other debtors include balances amounting to £10,817 (2024 - £12,214) due from companies with common directorships.

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	6,847	5,678
Bank borrowings and overdrafts	3,376	3,159
Dividends payable	-	2,000
Other creditors	75,513	34,602
Accrued liabilities and deferred income	5,101	2,854
Total	90,837	48,293

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	34,943	34,943
Other creditors	60,000	60,000
Total	94,943	94,943

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		2,131		3,394
			2,131		3,394
Current assets
Stocks	5	-		834
Debtors	6	180,819		111,550
Cash at bank and on hand		8,849		35,777
		189,668		148,161
Creditors amounts falling due within one year	7	(90,837)		(48,293)
Net current assets (liabilities)			98,831		99,868
Total assets less current liabilities			100,962		103,262
Creditors amounts falling due after one year	8		(94,943)		(94,943)
Net assets			6,019		8,319
Capital and reserves
Called up share capital			2		2
Profit and loss account			6,017		8,317
Shareholders' funds			6,019		8,319