Brit Asset Management Limited |
Registered number: |
10772654 |
Balance Sheet |
as at 31 May 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
808,620 |
|
|
808,620 |
|
Current assets |
Debtors |
4 |
|
- |
|
|
281 |
Cash at bank and in hand |
|
|
3,456 |
|
|
13,307 |
|
|
|
3,456 |
|
|
13,588 |
|
Creditors: amounts falling due within one year |
5 |
|
(634,816) |
|
|
(665,736) |
|
Net current liabilities |
|
|
|
(631,360) |
|
|
(652,148) |
|
Total assets less current liabilities |
|
|
|
177,260 |
|
|
156,472 |
|
Provisions for liabilities |
|
|
|
(11,831) |
|
|
(11,831) |
|
Net assets |
|
|
|
165,429 |
|
|
144,641 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
10 |
|
|
10 |
Fair value reserve |
|
|
|
50,438 |
|
|
50,438 |
Profit and loss account |
|
|
|
114,981 |
|
|
94,193 |
|
Shareholders' funds |
|
|
|
165,429 |
|
|
144,641 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Robert Talbot |
Director |
Approved by the board on 22 February 2024 |
|
Brit Asset Management Limited |
Notes to the Accounts |
for the year ended 31 May 2023 |
|
|
1 |
Accounting policies |
|
|
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). |
|
|
Turnover |
|
Turnover represents rents and consultancy income, net of VAT, receivable for the year. |
|
|
Investment properties |
|
Investment properties are included in the accounts at their fair value. Gains and losses on fair valuation are recognised in the profit and loss account. Deferred taxation is provided at the rate expected to apply when the property is sold. |
|
|
Deferred tax |
|
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Deferred tax is accounted in respect of all material timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
Freehold |
investment |
properties |
£ |
|
Fair value |
|
At 1 June 2022 |
808,620 |
|
|
At 31 May 2023 |
808,620 |
|
|
The investment properties are valued by the directors at 31 May 2023, on an open market basis. |
|
No Depreciation is provided in respect of these properties. |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
- |
|
281 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Directors' loan accounts |
|
|
|
|
621,641 |
|
656,172 |
|
Taxation and social security costs |
8,865 |
|
5,504 |
|
Other creditors |
4,310 |
|
4,060 |
|
|
|
|
|
|
634,816 |
|
665,736 |
|
|
|
|
|
|
|
|
|
|
The directors' loan balances with the company attract a nil rate of interest and are repayable on |
|
demand. |
|
|
6 |
Other information |
|
|
Brit Asset Management Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Ground Floor |
|
21 York Road |
|
Maidenhead |
|
Berkshire |
|
SL6 1SQ |