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REGISTERED NUMBER: 01631731 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Brendon International Limited

Brendon International Limited (Registered number: 01631731)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Brendon International Limited (Registered number: 01631731)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,109,071 3,218,448
3,109,071 3,218,448

CURRENT ASSETS
Stocks 86,016 82,826
Debtors 6 1,531,087 1,335,138
Cash at bank and in hand 276,052 331,045
1,893,155 1,749,009
CREDITORS
Amounts falling due within one year 7 930,874 772,835
NET CURRENT ASSETS 962,281 976,174
TOTAL ASSETS LESS CURRENT LIABILITIES 4,071,352 4,194,622

CREDITORS
Amounts falling due after more than one year 8 (302,783 ) (403,461 )

PROVISIONS FOR LIABILITIES (214,742 ) (254,077 )
NET ASSETS 3,553,827 3,537,084

CAPITAL AND RESERVES
Called up share capital 11,750 11,750
Non distributable reserves 1,790,158 1,796,238
Retained earnings 1,751,919 1,729,096
SHAREHOLDERS' FUNDS 3,553,827 3,537,084

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Brendon International Limited (Registered number: 01631731)

Balance Sheet - continued
31 December 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





Mrs H M James - Director


Brendon International Limited (Registered number: 01631731)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Brendon International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01631731

Registered office: Sankey Valley Industrial Estate
Newton-le-Willows
Merseyside
WA12 8DN

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. Invoices are recognised on a receivable basis.

Turnover is attributable to the continuing activity of freight forwarding.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 10 years

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 50 years
Plant and machinery - 33% on cost and 5% - 10% on cost
Fixtures and fittings - 100% on cost and 15% - 33% on cost
Motor vehicles - 15% - 33% on cost
Computer equipment - 15% - 33% on cost

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Brendon International Limited (Registered number: 01631731)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 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.

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

Brendon International Limited (Registered number: 01631731)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 62,366
AMORTISATION
At 1 January 2023
and 31 December 2023 62,366
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2023 3,100,000 286,724 32,425
Additions - 6,390 -
Disposals - - -
At 31 December 2023 3,100,000 293,114 32,425
DEPRECIATION
At 1 January 2023 110,000 264,125 2,033
Charge for year 55,000 5,442 4,341
Eliminated on disposal - - -
At 31 December 2023 165,000 269,567 6,374
NET BOOK VALUE
At 31 December 2023 2,935,000 23,547 26,051
At 31 December 2022 2,990,000 22,599 30,392

Brendon International Limited (Registered number: 01631731)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 366,522 31,537 3,817,208
Additions - - 6,390
Disposals (8,400 ) - (8,400 )
At 31 December 2023 358,122 31,537 3,815,198
DEPRECIATION
At 1 January 2023 193,035 29,567 598,760
Charge for year 43,285 1,714 109,782
Eliminated on disposal (2,415 ) - (2,415 )
At 31 December 2023 233,905 31,281 706,127
NET BOOK VALUE
At 31 December 2023 124,217 256 3,109,071
At 31 December 2022 173,487 1,970 3,218,448

Included in cost or valuation of land and buildings is freehold land of £ 213,447 (2022 - £ 213,447 ) which is not depreciated.

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2021 640,727 - -
Cost 2,459,273 293,114 32,425
3,100,000 293,114 32,425

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2021 - - 640,727
Cost 358,122 31,537 3,174,471
358,122 31,537 3,815,198

Brendon International Limited (Registered number: 01631731)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 163,417
DEPRECIATION
At 1 January 2023 6,809
Charge for year 40,854
At 31 December 2023 47,663
NET BOOK VALUE
At 31 December 2023 115,754
At 31 December 2022 156,608

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 788,122 568,979
Other debtors 42,136 65,330
830,258 634,309

Amounts falling due after more than one year:
Amounts owed by group undertakings 700,829 700,829

Aggregate amounts 1,531,087 1,335,138

Amounts owed by group undertakings are due to be repaid on a rolling 53 week basis.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 154,782 237,446
Hire purchase contracts 28,606 28,604
Trade creditors 430,804 412,803
Taxation and social security 80,516 43,076
Other creditors 236,166 50,906
930,874 772,835

Brendon International Limited (Registered number: 01631731)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 250,342 322,415
Hire purchase contracts 52,441 81,046
302,783 403,461

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 39,088

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 87,667 143,597
Bank loans 317,457 416,264
Hire purchase contracts 81,047 109,650
486,171 669,511

The bank overdraft and loans are secured by a first legal mortgage over plots A3 and A4 Sankey Valley Industrial Estate and an unscheduled mortgage debenture incorporating a fixed and floating charge over all current and future assets of the company.

Hire purchase creditors are secured over the assets to which they relate.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H M James by virtue of her controlling interest in HMJ Holdings Limited, the ultimate parent company.