Britania Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02255021 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2022 TO 30 JANUARY 2023

FOR

BRITANIA LIMITED

Page

Company information

1

Chartered accountants' report

2

Balance sheet

3

Notes to the financial statements

4

DIRECTOR:

R J Kendrick

REGISTERED OFFICE:

Braye House

Egypt Lane

Farnham Common

Slough

Berkshire

SL2 3LF

REGISTERED NUMBER:

02255021 (England and Wales)

ACCOUNTANTS:

Johnsons, Chartered Accountants

1-2 Craven Road

Ealing

London

W5 2UA

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Britania Limited for the period ended 30 January 2023 which comprise the Statement of income and retained earnings, Balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Britania Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Britania Limited and state those matters that we have agreed to state to the director of Britania Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Britania Limited and its director for our work or for this report.

It is your duty to ensure that Britania Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Britania Limited. You consider that Britania Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Britania Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Johnsons, Chartered Accountants

1-2 Craven Road

Ealing

London

W5 2UA

30 October 2023

FIXED ASSETS

Tangible assets

4

13,223

17,048

Investments

5

4,954,797

4,829,254

4,968,020

4,846,302

CURRENT ASSETS

Debtors

6

4,804,088

4,580,382

Cash at bank and in hand

226,874

213,034

5,030,962

4,793,416

CREDITORS

Amounts falling due within one year

7

(2,599,748

)

(2,219,726

)

NET CURRENT ASSETS

2,431,214

2,573,690

TOTAL ASSETS LESS CURRENT LIABILITIES

7,399,234

7,419,992

CREDITORS

Amounts falling due after more than one year

8

(4,606,358

)

(4,579,721

)

NET ASSETS

2,792,876

2,840,271

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,792,776

2,840,171

2,792,876

2,840,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 2023 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2023 and were signed by:

R J Kendrick - Director

1.	STATUTORY INFORMATION

Britania 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.

The accounts have been prepared on a going concern basis, the directors have assessed the impact of the changing climate and see no reason for the approach to be impacted.

TURNOVER

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

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% on cost and at varying rates on cost

TAXATION

Taxation for the period 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 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 period 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 period was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2022

80,942

Additions

1,047

At 30 January 2023

81,989

DEPRECIATION

At 1 May 2022

63,894

Charge for period

4,872

At 30 January 2023

68,766

NET BOOK VALUE

At 30 January 2023

13,223

At 30 April 2022

17,048

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2022

4,829,254

Additions

303,943

Disposals

(178,400

)

At 30 January 2023

4,954,797

NET BOOK VALUE

At 30 January 2023

4,954,797

At 30 April 2022

4,829,254

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

4,474,558

4,274,946

Other debtors

329,530

305,436

4,804,088

4,580,382

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

10,882

6,631

Taxation and social security

137

22,034

Other creditors

2,588,729

2,191,061

2,599,748

2,219,726

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

4,606,358

4,579,721

9.	RELATED PARTY DISCLOSURES

During the year the company made the following charges to companies in which R J Kendrick, a director and 80% shareholder in the company, was connected:

Financing, consultancy services receivable and sale of equipment:

2023

2022

£

£

Dramgate Limited

45,000

60,000

Smartcomm Limited

7,500

10,000

At the balance sheet date the company had the following balances with related parties:

Debtors:

2023

2022

£

£

Cognisco Limited

3,985,012

3,858,541

Cognisco Holdings Limited

44,400

44,400

Smartcomm Limited

51,665

47,533

Creditors:

Dramgate Limited

4,606,358

4,579,721

At the balance sheet date the company owed Mr R Kendrick £2,198,101 (2022: £1,393,026).

The company also paid salaries to family members of the director totalling £14,814 during the period (2021: £19,180).

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R J Kendrick.

11.	SECURED DEBTS

As at the balance sheet date the company has 3 charges registered against it. These are as follows;

1. Legal Charge to Bank of Scotland in respect of land and buildings on the west side of Sandfield Close.

2. Debenture creating fixed and floating charges to Bank of Scotland over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

3. Legal charge to Bank of Scotland on all that f/h property k/a as being a building plot.