Brayfield Developments Limited Filleted accounts for Companies House (small and micro)

BRAYFIELD DEVELOPMENTS LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2020-05-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP NI637555 2020-05-01 2021-04-30 NI637555 2021-04-30 NI637555 2020-04-30 NI637555 bus:RegisteredOffice 2020-05-01 2021-04-30 NI637555 bus:LeadAgentIfApplicable 2020-05-01 2021-04-30 NI637555 bus:Director2 2020-05-01 2021-04-30 NI637555 core:WithinOneYear 2021-04-30 NI637555 core:WithinOneYear 2020-04-30 NI637555 core:AfterOneYear 2021-04-30 NI637555 core:AfterOneYear 2020-04-30 NI637555 core:ShareCapital 2021-04-30 NI637555 core:ShareCapital 2020-04-30 NI637555 core:RetainedEarningsAccumulatedLosses 2021-04-30 NI637555 core:RetainedEarningsAccumulatedLosses 2020-04-30 NI637555 bus:SmallEntities 2020-05-01 2021-04-30 NI637555 bus:AuditExemptWithAccountantsReport 2020-05-01 2021-04-30 NI637555 bus:FullAccounts 2020-05-01 2021-04-30 NI637555 bus:SmallCompaniesRegimeForAccounts 2020-05-01 2021-04-30 NI637555 bus:PrivateLimitedCompanyLtd 2020-05-01 2021-04-30

COMPANY REGISTRATION NUMBER: NI637555

Brayfield Developments Limited

Filleted Unaudited Financial Statements

30 April 2021

Brayfield Developments Limited

Financial Statements

Year ended 30 April 2021

Contents	Page

Officers and professional advisers	1

Director's report	2

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	3

Statement of financial position	4

Notes to the financial statements	6

Brayfield Developments Limited

Officers and Professional Advisers

Director	Mr M Canning

Registered office	Unit 1 739 Antrim Road
	Belfast
	BT15 4EL

Accountants	Maneely Mc Cann
	Chartered Accountants
	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Bankers	Bank of Ireland
	306-310 Ormeau Road
	Belfast
	BT7 2GE

Brayfield Developments Limited

Director's Report

Year ended 30 April 2021

The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2021 .

Director

The director who served the company during the year was as follows:

Mr M Canning

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 28 April 2022 and signed on behalf of the board by:

Mr M Canning
Director

Registered office:

Unit 1 739 Antrim Road

Belfast

BT15 4EL

Brayfield Developments Limited

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Brayfield Developments Limited

Year ended 30 April 2021

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 April 2021, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Maneely Mc Cann Chartered Accountants

Aisling House 50 Stranmillis Embankment Belfast BT9 5FL

28 April 2022

Brayfield Developments Limited

Statement of Financial Position

30 April 2021

	2021	2020
Note	£	£

Current assets

Stocks		8,270,957	9,600,530
Debtors	4	45,091	32,273
Cash at bank and in hand		22,539	2,958
		------------	------------
		8,338,587	9,635,761

Creditors: amounts falling due within one year	5	3,330,137	3,165,010
		------------	------------
Net current assets		5,008,450	6,470,751
		------------	------------
Total assets less current liabilities		5,008,450	6,470,751

Creditors: amounts falling due after more than one year	6	4,688,205	6,454,700

Provisions	10,459	10,459
	------------	------------
Net assets	309,786	5,592
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	309,686	5,492
	---------	-------
Shareholders funds	309,786	5,592
	---------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Brayfield Developments Limited

Statement of Financial Position (continued)

30 April 2021

These financial statements were approved by the board of directors and authorised for issue on 28 April 2022 , and are signed on behalf of the board by:

Mr M Canning
Director

Company registration number: NI637555

Brayfield Developments Limited

Notes to the Financial Statements

Year ended 30 April 2021

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 1 739 Antrim Road, Belfast, BT15 4EL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2021	2020
	£	£
Other debtors	45,091	32,273
	--------	--------

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	60,089	5,165
Corporation tax	72,730	1,376
Other creditors	3,197,318	3,158,469
	------------	------------
	3,330,137	3,165,010
	------------	------------

6. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	4,688,205	6,454,700
	------------	------------