Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-01falsetrueNo description of principal activity98false 04131287 2023-01-01 2023-12-31 04131287 2022-01-01 2022-12-31 04131287 2023-12-31 04131287 2022-12-31 04131287 c:Director1 2023-01-01 2023-12-31 04131287 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 04131287 d:Buildings d:LongLeaseholdAssets 2023-12-31 04131287 d:Buildings d:LongLeaseholdAssets 2022-12-31 04131287 d:PlantMachinery 2023-01-01 2023-12-31 04131287 d:MotorVehicles 2023-01-01 2023-12-31 04131287 d:MotorVehicles 2023-12-31 04131287 d:MotorVehicles 2022-12-31 04131287 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131287 d:FurnitureFittings 2023-01-01 2023-12-31 04131287 d:ComputerEquipment 2023-01-01 2023-12-31 04131287 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04131287 d:OtherPropertyPlantEquipment 2023-12-31 04131287 d:OtherPropertyPlantEquipment 2022-12-31 04131287 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131287 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131287 d:CurrentFinancialInstruments 2023-12-31 04131287 d:CurrentFinancialInstruments 2022-12-31 04131287 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04131287 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04131287 d:ShareCapital 2023-12-31 04131287 d:ShareCapital 2022-12-31 04131287 d:RetainedEarningsAccumulatedLosses 2023-12-31 04131287 d:RetainedEarningsAccumulatedLosses 2022-12-31 04131287 c:FRS102 2023-01-01 2023-12-31 04131287 c:Audited 2023-01-01 2023-12-31 04131287 c:FullAccounts 2023-01-01 2023-12-31 04131287 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04131287 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04131287 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04131287









BRALO UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BRALO UK LIMITED
REGISTERED NUMBER: 04131287

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,008
9,169

  
7,008
9,169

Current assets
  

Stocks
 5 
424,559
440,271

Debtors: amounts falling due within one year
 6 
279,639
289,670

Cash at bank and in hand
 7 
87,819
109,738

  
792,017
839,679

Creditors: amounts falling due within one year
 8 
(620,494)
(661,456)

Net current assets
  
 
 
171,523
 
 
178,223

Total assets less current liabilities
  
178,531
187,392

  

Net assets
  
178,531
187,392


Capital and reserves
  

Called up share capital 
  
564,575
564,575

Profit and loss account
  
(386,044)
(377,183)

  
178,531
187,392


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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



F Donatelli
Director
Date: 28 March 2024

The notes on pages 2 to 9 form part of these financial statements.
Page 1

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Bralo UK Limited is a limited liability company incorporated and domiciled in the United Kingdom. 
The address of its registered office is:
Leabrook Road
Wednesbury
WS10 7NB
The financial statements are prepared in Sterling (£) and are for the year ended 31 December 2023
(2022: year ended 31 December 2022).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has considered the financial position and future prospects of the company for twelve months from the date of approval of the accounts and believes that the company has access to sufficient resource and support from the parent company, Bralo SA.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

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

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
Plant and equipment
-
20%
Motor vehicles
-
25%
Fixtures and fittings
-
10%
Computer equipment
-
33%

The 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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 5

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 8).

Page 6

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Plant, fixtures & office equipment
Total

£
£
£
£



Cost 


At 1 January 2023
53,115
32,015
83,214
168,344


Additions
-
-
2,889
2,889



At 31 December 2023

53,115
32,015
86,103
171,233



Depreciation


At 1 January 2023
53,115
32,015
74,046
159,176


Charge for the year on owned assets
-
-
5,049
5,049



At 31 December 2023

53,115
32,015
79,095
164,225



Net book value



At 31 December 2023
-
-
7,008
7,008



At 31 December 2022
-
-
9,169
9,169

Page 7

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
424,559
440,271

424,559
440,271



6.


Debtors

2023
2022
£
£


Trade debtors
242,314
261,204

Other debtors
16,000
16,000

Prepayments and accrued income
21,325
12,466

279,639
289,670



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
87,819
109,738

87,819
109,738



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,826
5,053

Amounts owed to group undertakings
522,025
565,181

Other taxation and social security
74,211
72,681

Other creditors
1,382
1,491

Accruals and deferred income
18,050
17,050

620,494
661,456


Page 8

 
BRALO UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,948 (2022 - £7,729). Contributions totalling £1,383 (2022 - £1,491) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

As a wholly owned subsidiary of Bralo S.A., the company has taken advantage of the exemption under FRS 102 33.1A of the requirement to disclose transactions between it and other wholly owned group companies.


11.


Controlling party

The company's ultimate parent company is Bralo S.A., a company registered in Spain


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 28 March 2024 by Gavin Whitehouse BSocSc FCA (Senior Statutory Auditor) on behalf of Bennett Whitehouse Limited.

 
Page 9