Bric Interiors Ltd - Accounts to registrar (filleted) - small 23.1.2
Bric Interiors Ltd - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 |
| FOR |
| BRIC INTERIORS LTD |
| BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BRIC INTERIORS LTD |
| COMPANY INFORMATION |
| for the year ended 31 October 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 24A Ainslie Place |
| Edinburgh |
| EH3 6AJ |
| BANKERS: |
| Edinburgh Banking Centre |
| 1 St Andrews Square |
| Edinburgh |
| EH2 2BD |
| SOLICITORS: |
| 5 Atholl Crescent |
| Edinburgh |
| EH3 8EJ |
| BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745) |
| BALANCE SHEET |
| 31 October 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges her 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2022 |
| 1. | STATUTORY INFORMATION |
| Bric Interiors Ltd is a |
| The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company has failed to trade profitably. The director will continue to support the company until sufficient profitability is achieved and on this basis considers it appropriate to prepare the accounts on a going concern basis. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Government grants |
| Government grants are credited to the profit and loss account when the related expenditure is charged to the profit and loss account or the underlying conditions relating to the grant have been satisfied. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all material 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2022 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| Additions |
| At 31 October 2022 |
| AMORTISATION |
| Charge for year |
| At 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | and | Motor |
| property | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2022 |
| DEPRECIATION |
| At 1 November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| BRIC INTERIORS LTD (REGISTERED NUMBER: 09252745) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 33,618 | 43,618 |
| 9. | OTHER FINANCIAL COMMITMENTS |
| At 1 September 2021, the company had an annual lease commitment for the property 15 Howe Street, Edinburgh, EH3 6TE amounting to £17,500. |
| 10. | BOUNCE BACK LOAN SCHEME |
| The company borrowed £50,000 under the Governments Bounce Back Loan Scheme. Under the scheme the Government provides the bank with a guarantee that the loan will be repaid in full. Interest is charged at the rate of 2.5% and the loan is repayable by installments as detailed below. |
| 2022 | 2021 |
| £ | £ |
| < 1 year | 10,000 | 4,630 |
| 2-5 years | 33,618 | 43,618 |
| 5 years | - | - |
| 43,618 | 48,248 |