| Northern Brix Ltd |
| Registered number: |
13420256 |
| Balance Sheet |
| as at 31 May 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Investment property |
4 |
|
|
1,198,924 |
|
|
710,151 |
|
| Current assets |
| Debtors |
5 |
|
4,064 |
|
|
7,052 |
| Cash at bank and in hand |
|
|
1,280 |
|
|
1,085 |
|
|
|
5,344 |
|
|
8,137 |
|
| Creditors: amounts falling due within one year |
6 |
|
(320,002) |
|
|
(487,184) |
|
| Net current liabilities |
|
|
|
(314,658) |
|
|
(479,047) |
|
| Total assets less current liabilities |
|
|
|
884,266 |
|
|
231,104 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(873,218) |
|
|
(200,543) |
|
| Provisions for liabilities |
|
|
|
(9,480) |
|
|
(9,480) |
|
| Net assets |
|
|
|
1,568 |
|
|
21,081 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Fair value reserve |
9 |
|
|
40,413 |
|
|
40,413 |
| Profit and loss account |
|
|
|
(38,846) |
|
|
(19,333) |
|
| Shareholder's funds |
|
|
|
1,568 |
|
|
21,081 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr T Williams |
| Director |
| Approved by the board on 26/03/2024. |
|
| Northern Brix Ltd |
| Notes to the Accounts |
| for the year ended 31 May 2023 |
|
|
| 1 |
Statutory information |
|
|
Northern Brix 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: |
|
|
13420256 |
|
|
Registered office: |
|
|
Holly Croft |
|
|
|
|
Hook Heath Road |
|
|
|
|
Woking |
|
|
|
|
GU22 0QF |
|
|
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1. |
|
|
| 2 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 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 as modified by the revaluation of certain assets. |
|
|
Turnover |
|
Turnover represents rents received and receivable, excluding VAT. |
|
|
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. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
| 2 |
Accounting policies (continued) |
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
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. |
|
|
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 3 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Investment property |
| Total |
| £ |
|
Fair value |
|
At 1 June 2022 |
710,151 |
|
Additions |
488,773 |
|
|
At 31 May 2023 |
1,198,924 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 June 2022 |
660,259 |
|
At 31 May 2023 |
1,148,556 |
|
|
|
|
|
|
|
|
|
|
The investment property was valued on an open market basis on 31 May 2023 by the director. |
|
|
| 5 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
- |
|
4,046 |
|
Prepayments and accrued income |
|
|
|
1,664 |
|
1,206 |
|
Other debtors |
2,400 |
|
1,800 |
|
|
|
|
|
|
4,064 |
|
7,052 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
190,600 |
|
Trade creditors |
1,534 |
|
- |
|
Director's current account |
314,409 |
|
292,626 |
|
Accruals and deferred income |
|
|
|
1,659 |
|
2,158 |
|
Other creditors |
2,400 |
|
1,800 |
|
|
|
|
|
|
320,002 |
|
487,184 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans |
873,218 |
|
200,543 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2023 |
|
2022 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
873,218 |
|
200,543 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
873,218 |
|
391,144 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured over the properties to which they relate. |
|
|
| 9 |
Fair value reserve |
2023 |
|
2022 |
| £ |
£ |
|
|
At 1 June 2022 |
40,413 |
|
- |
|
Reserve transfer |
- |
|
40,413 |
|
|
At 31 May 2023 |
40,413 |
|
40,413 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Related party transactions |
|
|
During the period £87,907 (2022: £299,627) was advanced from and £66,124 (2022: £7,001) was repaid to the directors. An amount of £314,409 (2022: £292,626) remained due to the directors at the period end. |
