Briant Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10088162 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Briant Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr P S Briant

REGISTERED OFFICE:

8th Floor Connect Centre

Kingston Crescent

Portsmouth

Hampshire

PO2 8QL

REGISTERED NUMBER:

10088162 (England and Wales)

ACCOUNTANTS:

Jelliff Lamprey Partnership Limited

8th Floor

Connect Centre

Kingston Crescent

Portsmouth

Hampshire

PO2 8QL

CURRENT ASSETS

Stocks

1,122,796

1,017,178

Debtors

4

155,378

36,575

Cash at bank

264

-

1,278,438

1,053,753

CREDITORS

Amounts falling due within one year

5

620,637

516,923

NET CURRENT ASSETS

657,801

536,830

TOTAL ASSETS LESS CURRENT LIABILITIES

657,801

536,830

CREDITORS

Amounts falling due after more than one year

6

656,592

613,229

NET ASSETS/(LIABILITIES)

1,209

(76,399

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,208

(76,400

)

SHAREHOLDERS' FUNDS

1,209

(76,399

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 March 2019 and were signed by:

Mr P S Briant - Director

1.	STATUTORY INFORMATION

Briant Investments Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the amount derived from ordinary activities, stated after trade discounts, value added tax and

any other sales taxes, where applicable. Turnover is the value of work performed during the year with respect to

services.

Turnover is recognised on the provision of services on a percentage degree of completion basis.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and subsequently measured at amortised cost using the effective interest

method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price.

Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of

the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - NIL ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

155,378

36,575

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

13,769

Trade creditors

62,707

32,113

Taxation and social security

27,405

7,020

Other creditors

530,525

464,021

620,637

516,923

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

656,592

613,229

Amounts falling due in more than five years:

Repayable by instalments

Mortgage

656,592

613,229

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

656,592

-

The loan is covered by a fixed and floating charge to the property on which it relates to.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2018 the director was owed £529,874.