BRIMSTAR LIMITED Company accounts

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 12,656 18,336 127,929 127,929 127,929 xbrli:pure xbrli:shares iso4217:GBP 04261542 2022-01-01 2022-12-31 04261542 2022-12-31 04261542 2021-12-31 04261542 2021-01-01 2021-12-31 04261542 2021-12-31 04261542 2020-12-31 04261542 bus:RegisteredOffice 2022-01-01 2022-12-31 04261542 bus:Director1 2022-01-01 2022-12-31 04261542 bus:Director2 2022-01-01 2022-12-31 04261542 core:WithinOneYear 2022-12-31 04261542 core:WithinOneYear 2021-12-31 04261542 core:RetainedEarningsAccumulatedLosses 2021-12-31 04261542 core:RetainedEarningsAccumulatedLosses 2020-12-31 04261542 core:RetainedEarningsAccumulatedLosses 2022-12-31 04261542 core:RetainedEarningsAccumulatedLosses 2021-12-31 04261542 core:ShareCapital 2022-12-31 04261542 core:ShareCapital 2021-12-31 04261542 core:RevaluationReserve 2022-12-31 04261542 core:RevaluationReserve 2021-12-31 04261542 core:LandBuildings 2022-12-31 04261542 core:LandBuildings 2021-12-31 04261542 bus:SmallEntities 2022-01-01 2022-12-31 04261542 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 04261542 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 04261542 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04261542 bus:FullAccounts 2022-01-01 2022-12-31

COMPANY REGISTRATION NUMBER: 04261542

BRIMSTAR LIMITED

Unaudited Financial Statements

31 December 2022

BRIMSTAR LIMITED

Financial Statements

Year ended 31 December 2022

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

BRIMSTAR LIMITED

Directors' Report

Year ended 31 December 2022

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2022 .

Directors

The directors who served the company during the year were as follows:

B Feldman
H Feldman

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 26 March 2024 and signed on behalf of the board by:

B Feldman

Director

Registered office:

Hallswelle House

1 Hallswelle Road

London

United Kingdom

NW11 0DH

BRIMSTAR LIMITED

Statement of Income and Retained Earnings

Year ended 31 December 2022

	2022	2021
Note	£	£
Rent receivable	22,000	22,841

	--------	--------
Gross profit	22,000	22,841

Property Outgoings	4,144	1,645
Administrative expenses	2,280	2,021
	--------	--------
Operating profit	15,576	19,175

	--------	--------
Profit before taxation	15,576	19,175

Tax on profit	2,920	839
	--------	--------
Profit for the financial year and total comprehensive income	12,656	18,336
	--------	--------

Retained earnings at the start of the year	232,651	214,315
	---------	---------
Retained earnings at the end of the year	245,307	232,651
	---------	---------

All the activities of the company are from continuing operations.

BRIMSTAR LIMITED

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	4		127,929	127,929

Current assets

Debtors	5	580,519	564,894
Cash at bank and in hand		3,392	1,935
		---------	---------
		583,911	566,829

Creditors: amounts falling due within one year	6	384,131		379,705
		---------		---------
Net current assets			199,780	187,124
			---------	---------
Total assets less current liabilities			327,709	315,053

Provisions

Taxation including deferred tax	14,008	14,008
	---------	---------
Net assets	313,701	301,045
	---------	---------

Capital and reserves

Called up share capital		2	2
Fair value reserve	7	68,392	68,392
Profit and loss account	7	245,307	232,651
		---------	---------
Shareholders funds		313,701	301,045
		---------	---------

These financial statements have been prepared 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'.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BRIMSTAR LIMITED

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 26 March 2024 , and are signed on behalf of the board by:

B Feldman

Director

Company registration number: 04261542

BRIMSTAR LIMITED

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH, United Kingdom.

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

The turnover represents rents and charges receivable.

Income 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 January 2022 and 31 December 2022	127,929
	---------
Depreciation
At 1 January 2022 and 31 December 2022	–
	---------
Carrying amount
At 31 December 2022	127,929
	---------
At 31 December 2021	127,929
	---------

The investment properties were revalued by the directors as at 31 December 2021 having considered the open market value of the properties. No independent valuation was undertaken.

5. Debtors

	2022	2021
	£	£
Other debtors	580,519	564,894
	---------	---------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	2,920	839
Other creditors	381,211	378,866
	---------	---------
	384,131	379,705
	---------	---------

7. Reserves

Fair value reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses.

8. Related party transactions

The company was under the control of Mr & Mrs B.Feldman throughout the current and previous year.