Brynstore Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08231524 (England and Wales)

Brynstore Limited

Unaudited Financial Statements

for the Year Ended 31 March 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N W Churchward

REGISTERED OFFICE:

Factory 3

M & N House,

Barleyfield Ind Estate

Brynmawr

Blaenau Gwent

NP23 4LU

REGISTERED NUMBER:

08231524 (England and Wales)

ACCOUNTANTS:

Griffiths Green Arnold

Accountants & Business Advisors

11 New Street

Pontnewydd

Cwmbran

NP44 1EE

FIXED ASSETS

Tangible assets

4

158,919

158,751

CURRENT ASSETS

Debtors

5

386,036

393,903

Cash at bank

7,304

62,237

393,340

456,140

CREDITORS

Amounts falling due within one year

6

172,023

207,891

NET CURRENT ASSETS

221,317

248,249

TOTAL ASSETS LESS CURRENT LIABILITIES

380,236

407,000

CREDITORS

Amounts falling due after more than one year

7

2,333

6,333

NET ASSETS

377,903

400,667

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

377,902

400,666

377,903

400,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 27 June 2023 and were signed by:

N W Churchward - Director

1.	STATUTORY INFORMATION

Brynstore 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.

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.

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 has been fully amortised in the current year.

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.

Long leasehold

-

5% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 NIL (2021 - 2 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2021

158,249

-

66,422

224,671

Additions

-

4,330

11,367

15,697

At 31 March 2022

158,249

4,330

77,789

240,368

DEPRECIATION

At 1 April 2021

50,282

-

15,638

65,920

Charge for year

7,912

-

7,617

15,529

At 31 March 2022

58,194

-

23,255

81,449

NET BOOK VALUE

At 31 March 2022

100,055

4,330

54,534

158,919

At 31 March 2021

107,967

-

50,784

158,751

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

500

21,184

Amounts owed by group undertakings

29,880

10,255

Other debtors

355,656

362,464

386,036

393,903

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

4,000

4,000

Hire purchase contracts

-

3,251

Trade creditors

5,100

41,922

Amounts owed to group undertakings

52,399

51,976

Taxation and social security

101,233

100,569

Other creditors

9,291

6,173

172,023

207,891

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

2,333

6,333

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2022 and the period ended 31 March 2021:

31.3.22

31.3.21

£

£

N W Churchward

Balance outstanding at start of year

353,152

17,762

Amounts advanced

28,916

339,390

Amounts repaid

(58,540

)

(4,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

323,528

353,152