Brand Clearance Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08381340 (England and Wales)

Financial Statements

for the Year Ended 31 July 2023

for

BRAND CLEARANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs R L Bennett

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

08381340 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

CURRENT ASSETS

Cash at bank

42,590

41,392

CREDITORS

Amounts falling due within one year

4

40,642

40,689

NET CURRENT ASSETS

1,948

703

TOTAL ASSETS LESS CURRENT LIABILITIES

1,948

703

CAPITAL AND RESERVES

Called up share capital

5

602

602

Retained earnings

6

1,346

101

SHAREHOLDERS' FUNDS

1,948

703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 April 2024 and were signed by:

Mrs R L Bennett - Director

1.	STATUTORY INFORMATION

Brand Clearance 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade creditors

1

-

Tax

4,456

8,069

Directors' current accounts

30,512

29,980

Accruals and deferred income

5,673

2,640

40,642

40,689

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

601

A Ordinary

£1

601

1

1

B Ordinary

£1

1

1

602

2

6.

RESERVES

Retained

earnings

£

At 1 August 2022

101

Profit for the year

19,245

Dividends

(18,000

)

At 31 July 2023

1,346

7.	RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due within one year is £30,512 (2022: £29,980), due and payable to the director. The amount is interest free and repayable on demand.