REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 |
FOR |
BRANDSAVER (UK) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 |
FOR |
BRANDSAVER (UK) LIMITED |
BRANDSAVER (UK) LIMITED (REGISTERED NUMBER: 08409292) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BRANDSAVER (UK) LIMITED |
COMPANY INFORMATION |
for the Year Ended 31st August 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
BRANDSAVER (UK) LIMITED (REGISTERED NUMBER: 08409292) |
BALANCE SHEET |
31st August 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BRANDSAVER (UK) LIMITED (REGISTERED NUMBER: 08409292) |
BALANCE SHEET - continued |
31st August 2023 |
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 and authorised for issue on |
BRANDSAVER (UK) LIMITED (REGISTERED NUMBER: 08409292) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2023 |
1. | STATUTORY INFORMATION |
Brandsaver (UK) Limited is a private company limited by share capital, incorporated in England and Wales, registration number 08409292. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD and principal place of business is 90 North Street, Manchester, M8 8RA. |
The financial statements are prepared in Sterling, which is also the functional currency of the Company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The concept of going concern is an underlying assumption in the production of financial statements despite the company having made a loss in both the current and prior year. Although there is no formal agreement in place the directors have indicated they will continue to provide financial support to the company for at least the next 12 months. |
Turnover |
Turnover represents amounts recognised by the company in respect to goods supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the sale of toiletries, household, non-foods, own label, food, confectionary and soft drink products. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any provisions for impairment. Tangible fixed assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Depreciation on other tangible fixed assets is charged to the profit or loss so as to write off their value, over their estimated useful lives, using the following methods: |
Computer equipment - 20% Straight Line |
Plant & Machinery - 20% Straight Line |
At each reporting date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
BRANDSAVER (UK) LIMITED (REGISTERED NUMBER: 08409292) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2023 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise purchase, duty and carriage are based on the method most appropriate to the type of stock, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Provisions are made for obsolete, slow moving or defective items where appropriate. |
Taxation |
Taxation for the year comprises current 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 have been enacted or substantively enacted by the balance sheet date. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the average rate for the year. Exchange differences are taken into account in arriving at the operating result. |
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. |
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. |
The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
BRANDSAVER (UK) LIMITED (REGISTERED NUMBER: 08409292) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st September 2022 |
Additions |
At 31st August 2023 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
BRANDSAVER (UK) LIMITED (REGISTERED NUMBER: 08409292) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2023 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 45 | 45 |
Ordinary B | £1 | 5 | 5 |
Ordinary C | £1 | 25 | 25 |
Ordinary D | £1 | 25 | 25 |
100 | 100 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included within other creditors are loans owed to the directors, the amounts owing from the company at the balance sheet date is £231 (2022 - owing from the company of £231). All loans are unsecured, interest free and repayable on demand. |
9. | RELATED PARTY DISCLOSURES |
The company has made the following transactions with companies which are related parties by virtue of common control: |
Creditor at date of balance sheet £120,011 (2022 - £45,638) |
Purchases during the period £546,958 (2022 - £582,468) |
Sales during the period £11,909 (2022 - £Nil) |