Browns Estate Agency Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03681684 (England and Wales)

Financial Statements

for the Year Ended 31 December 2018

for

Browns Estate Agency Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C G Brown

P F P Brown

R C Cruddas

C P Holmstrom

S J Brown

SECRETARY:

P F P Brown

REGISTERED OFFICE:

6 Innovation Court

Yarm Road

STOCKTON ON TEES

Cleveland

TS18 3DA

REGISTERED NUMBER:

03681684 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

County Durham

DL3 7RT

FIXED ASSETS

Tangible assets

4

20,651

23,274

Investments

5

31,727

-

52,378

23,274

CURRENT ASSETS

Stocks

1,750

1,750

Debtors

79,793

45,695

Cash at bank and in hand

12,950

38,827

94,493

86,272

CREDITORS

Amounts falling due within one year

86,958

95,995

NET CURRENT ASSETS/(LIABILITIES)

7,535

(9,723

)

TOTAL ASSETS LESS CURRENT LIABILITIES

59,913

13,551

PROVISIONS FOR LIABILITIES

6

6,969

2,088

NET ASSETS

52,944

11,463

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Revaluation reserve

26,333

-

Retained earnings

25,611

10,463

SHAREHOLDERS' FUNDS

52,944

11,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 25 April 2019 and were signed on its behalf by:

C G Brown - Director

1.	STATUTORY INFORMATION

Browns Estate Agency 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 the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

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 year, and also have been consistently applied within the same

accounts.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Income Recognition

Income is recognised when a contract for the sale of goods or services is recognised as unconditional.

Tangible fixed assets

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

Freehold property

-

2% on cost

Office equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Investments

Investments in shares are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2017 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

87,823

Additions

91

At 31 December 2018

87,914

DEPRECIATION

At 1 January 2018

64,549

Charge for year

2,714

At 31 December 2018

67,263

NET BOOK VALUE

At 31 December 2018

20,651

At 31 December 2017

23,274

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

Revaluations

31,727

At 31 December 2018

31,727

NET BOOK VALUE

At 31 December 2018

31,727

Cost or valuation at 31 December 2018 is represented by:

Totals

£

Valuation in 2018

31,727

6.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

6,969

2,088

Deferred

tax

£

Balance at 1 January 2018

2,088

Provided during year

4,881

Balance at 31 December 2018

6,969

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

800

Ordinary

£1

800

800

200

'A' Ordinary Non-Voting

£1

200

200

1,000

1,000

The Ordinary and 'A' Ordinary Non-Voting shares shall constitute different classes of shares for the purposes of

the Companies Act 2006 but shall, save as otherwise provided for, confer upon the holders thereof the same

rights and rank pari passu in all respects except that the directors shall be entitled to pay such different dividend

of the shares Ordinary and 'A' Ordinary Non-Voting shares as they shall from time to time decide.

8.	RELATED PARTY DISCLOSURES

C G Brown/PFP Brown

2018

2017

£

£

Amounts due to directors

5,413

18,913

No interest was charged.