G.s. Brown Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05478388 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

G.S. BROWN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G S Brown

SECRETARY:

Mrs C A Brown

REGISTERED OFFICE:

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

REGISTERED NUMBER:

05478388 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,340,115

2,468,949

Investments

6

755,951

110,175

3,096,066

2,579,124

CURRENT ASSETS

Stocks

949,874

868,855

Debtors

7

293,744

477,284

Cash at bank and in hand

95,865

50

1,339,483

1,346,189

CREDITORS

Amounts falling due within one year

8

744,404

666,879

NET CURRENT ASSETS

595,079

679,310

TOTAL ASSETS LESS CURRENT LIABILITIES

3,691,145

3,258,434

CREDITORS

Amounts falling due after more than one year

9

(325,560

)

(365,725

)

PROVISIONS FOR LIABILITIES

(72,067

)

(58,682

)

NET ASSETS

3,293,518

2,834,027

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

3,293,368

2,833,877

SHAREHOLDERS' FUNDS

3,293,518

2,834,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 March 2022 and were signed by:

G S Brown - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

111,800

AMORTISATION

At 1 July 2020

and 30 June 2021

111,800

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2020

2,157,551

477,004

2,634,555

Additions

149,819

353,306

503,125

Disposals

(361,573

)

(280,705

)

(642,278

)

At 30 June 2021

1,945,797

549,605

2,495,402

DEPRECIATION

At 1 July 2020

-

165,606

165,606

Charge for year

-

73,644

73,644

Eliminated on disposal

-

(83,963

)

(83,963

)

At 30 June 2021

-

155,287

155,287

NET BOOK VALUE

At 30 June 2021

1,945,797

394,318

2,340,115

At 30 June 2020

2,157,551

311,398

2,468,949

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 July 2020

40,505

Disposals

(40,505

)

At 30 June 2021

-

DEPRECIATION

At 1 July 2020

4,050

Eliminated on disposal

(4,050

)

At 30 June 2021

-

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

36,455

6.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 July 2020

131,713

Additions

641,539

At 30 June 2021

773,252

PROVISIONS

At 1 July 2020

21,538

Impairments

(4,237

)

At 30 June 2021

17,301

NET BOOK VALUE

At 30 June 2021

755,951

At 30 June 2020

110,175

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

197,495

342,800

Other debtors

96,249

134,484

293,744

477,284

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

32,280

220,393

Hire purchase contracts

-

13,333

Trade creditors

580,796

301,102

Taxation and social security

127,055

127,692

Other creditors

4,273

4,359

744,404

666,879

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

325,560

357,947

Hire purchase contracts

-

7,778

325,560

365,725

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

196,440

211,115

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2021 and 30 June 2020:

30.6.21

30.6.20

£

£

G S Brown

Balance outstanding at start of year

66,594

41,298

Amounts advanced

28,988

26,606

Amounts repaid

(42,930

)

(1,310

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

52,652

66,594

11.	RELATED PARTY DISCLOSURES

G.S. Brown, the director, pays the company rent for the use of land owned by the company, £2,400 was paid in the current accounting year (£2,400 last year). Catherine Brown, the company secretary, carries out the book keeping for the company charging £6,500 in this year (£6,625 last year). The balance on the director's current account at 30/06/21 was £52,652 (£66,594 last year) and this is included in other debtors.

12.	ULTIMATE CONTROLLING PARTY

Geoffrey Stuart Brown is the ultimate controlling party being director and majority shareholder. Catherine Ann Brown, the wife of Geoffrey, is company secretary.