Company Registration No. 11716416 (England and Wales)
Brown Assets Limited
Unaudited accounts
for the period from 7 December 2018 to 31 December 2019
Brown Assets Limited
Unaudited accounts
Contents
Brown Assets Limited
Company Information
for the period from 7 December 2018 to 31 December 2019
Company Number
11716416 (England and Wales)
Registered Office
Flat 22 The Pavillion
Wrotham Road
Gravesend
Kent
DA11 0QG
Accountants
Clayton Stirling & Co
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Brown Assets Limited
Statement of financial position
as at
31 December 2019
Investment property
575,981
Cash at bank and in hand
2,924
Creditors: amounts falling due within one year
(11,475)
Net current liabilities
(1,988)
Total assets less current liabilities
574,477
Creditors: amounts falling due after more than one year
(586,957)
Called up share capital
2
Profit and loss account
(12,482)
Shareholders' funds
(12,480)
For the period ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 July 2020 and were signed on its behalf by
C Brown
Director
Company Registration No. 11716416
Brown Assets Limited
Notes to the Accounts
for the period from 7 December 2018 to 31 December 2019
Brown Assets Limited is a private company, limited by shares, registered in England and Wales, registration number 11716416. The registered office is Flat 22 The Pavillion, Wrotham Road, Gravesend, Kent, DA11 0QG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The financial statements have been prepared on a going concern basis as the director has indicated he will continue to provide financial assistance to meet ongoing costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% straight line
Brown Assets Limited
Notes to the Accounts
for the period from 7 December 2018 to 31 December 2019
4
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
Charge for the period
121
5
Investment property
2019
At 31 December 2019
575,981
Accrued income and prepayments
6,563
7
Creditors: amounts falling due within one year
2019
Loans from directors
4,947
8
Creditors: amounts falling due after more than one year
2019
Aggregate of amounts that fall due for payment after five years
446,957
The above bank loans have been secured by fixed and floating charges over the assets of the company.
9
Average number of employees
During the period the average number of employees was 1.