Brown Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11903834 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

BROWN INVESTMENTS LTD

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

5

FIXED ASSETS

Investments

4

50

-

Investment property

5

195,000

201,601

195,050

201,601

CURRENT ASSETS

Debtors

6

452

650

Cash at bank

3,832

2,026

4,284

2,676

CREDITORS

Amounts falling due within one year

7

(900

)

-

NET CURRENT ASSETS

3,384

2,676

TOTAL ASSETS LESS CURRENT LIABILITIES

198,434

204,277

CREDITORS

Amounts falling due after more than one year

8

(206,129

)

(205,470

)

NET LIABILITIES

(7,695

)

(1,193

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(7,697

)

(1,195

)

(7,695

)

(1,193

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2021 and were signed on its behalf by:

S D Brown - Director

1.	STATUTORY INFORMATION

Brown Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11903834

Registered office:

C/O DPC

Stone Road

55 Stone Road Business Park

Stoke-on-Trent

Staffordshire

ST4 6SR

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

Turnover is measured at the fair value of the rent received or receivable.

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2020 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

Additions

50

At 31 March 2021

50

NET BOOK VALUE

At 31 March 2021

50

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

201,601

Impairments

(6,601

)

At 31 March 2021

195,000

NET BOOK VALUE

At 31 March 2021

195,000

At 31 March 2020

201,601

Investment property has been recognised at fair value by the directors, they are of the opinion that there has been no material change in the year to 31 March 2021

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Amounts owed by group undertakings

120

-

Other debtors

332

650

452

650

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

900

-

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

206,129

205,470

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

145,395

145,394

9.	RELATED PARTY DISCLOSURES

All transactions undertaken with directors are deemed to be conducted under normal market conditions and/or are not material.