Bryan James & Co Limited
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Notes to the Accounts |
for the year ended 30 June 2019
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1 |
Accounting policies |
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Basis of preparation |
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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 (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Freehold buildings |
no depreciation is provided |
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Furniture & equipment |
20% reducing balance |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate.
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2 |
Employees |
2019 |
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2018 |
Number |
Number |
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Average number of persons employed by the company |
36 |
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36 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 July 2018 |
975,500 |
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Additions |
30,000 |
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At 30 June 2019 |
1,005,500 |
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Amortisation |
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At 1 July 2018 |
785,012 |
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Provided during the year |
46,080 |
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At 30 June 2019 |
831,092 |
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Net book value |
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At 30 June 2019 |
174,408 |
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At 30 June 2018 |
190,488 |
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Historical goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. Goodwill purchased in the last 10 years is being written off over its estimated economic life of 10 years. |
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4 |
Tangible fixed assets |
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Land and buildings |
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Furniture & Equipment |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 July 2018 |
375,000 |
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228,530 |
|
603,530 |
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Additions |
- |
|
344 |
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344 |
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At 30 June 2019 |
375,000 |
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228,874 |
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603,874 |
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Depreciation |
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At 1 July 2018 |
- |
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178,237 |
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178,237 |
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Charge for the year |
- |
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10,128 |
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10,128 |
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At 30 June 2019 |
- |
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188,365 |
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188,365 |
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Net book value |
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At 30 June 2019 |
375,000 |
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40,509 |
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415,509 |
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At 30 June 2018 |
375,000 |
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50,293 |
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425,293 |
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Freehold land and buildings: |
2019 |
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2018 |
£ |
£ |
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Historical cost |
208,054 |
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208,054 |
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Cumulative depreciation based on historical cost |
- |
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- |
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208,054 |
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208,054 |
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The freehold property was revalued during the year ended 30 June 2016 in the amount of £375,000. |
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5 |
Debtors |
2019 |
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2018 |
£ |
£ |
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Trade debtors |
225,064 |
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226,912 |
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Other debtors |
130,000 |
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76,950 |
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355,064 |
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303,862 |
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6 |
Creditors: amounts falling due within one year |
2019 |
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2018 |
£ |
£ |
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Bank loans and overdrafts |
- |
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18,445 |
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Trade creditors |
712,425 |
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752,224 |
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Taxation and social security costs |
10,862 |
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18,351 |
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Other creditors |
82,642 |
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21,030 |
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805,929 |
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810,050 |
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7 |
Loans |
2019 |
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2018 |
£ |
£ |
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Creditors include: |
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Secured bank loans |
- |
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18,445 |
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The bank loan was fully repaid in the year.
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8 |
Revaluation reserve |
2019 |
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2018 |
£ |
£ |
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At 1 July 2018 |
166,946 |
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166,946 |
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At 30 June 2019 |
166,946 |
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166,946 |
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9 |
Controlling party |
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The company was under no overall control during the year. All of the company's shares are owned by Mr J S Beeston and his family.
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10 |
Other information |
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Bryan James & Co Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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312 High Street |
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Harlington |
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Hayes |
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Middlesex |
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UB3 5BT |