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REGISTERED NUMBER: 01842016 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 December 2023

for

Brain Power International Limited

Brain Power International Limited (Registered number: 01842016)

Contents of the Financial Statements
For The Year Ended 31 December 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Brain Power International Limited

Company Information
For The Year Ended 31 December 2023







Directors: Mrs N J Wertheim
H A Wertheim





Secretary: H A Wertheim





Registered office: 3 Prospect Way
Rugby
Warwickshire
CV21 3UU





Registered number: 01842016 (England and Wales)





Accountants: R Vann Ltd
Chartered Certified Accountants
Ironstone House
Ironstone Way
Brixworth
Northamptonshire
NN6 9UD

Brain Power International Limited (Registered number: 01842016)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 506,279 157,010
Investment property 5 910,000 1,250,000
1,416,279 1,407,010

Current assets
Debtors 6 502,434 398,986
Investments 7 281,278 335,433
Cash at bank and in hand 366,438 352,641
1,150,150 1,087,060
Creditors
Amounts falling due within one year 8 1,425,432 1,369,339
Net current liabilities (275,282 ) (282,279 )
Total assets less current liabilities 1,140,997 1,124,731

Creditors
Amounts falling due after more than
one year

9

870,850

870,850
Net assets 270,147 253,881

Brain Power International Limited (Registered number: 01842016)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 100 100
Revaluation reserve 11 824,660 808,130
Retained earnings (554,613 ) (554,349 )
Shareholders' funds 270,147 253,881

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.

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 Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:





H A Wertheim - Director


Brain Power International Limited (Registered number: 01842016)

Notes to the Financial Statements
For The Year Ended 31 December 2023


1. Statutory information

Brain Power International 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.

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.

Related party exemption
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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% straight line
Plant and machinery etc - 25% on cost, 15% on reducing balance and 2% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Brain Power International Limited (Registered number: 01842016)

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


2. Accounting policies - continued
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.

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 4 (2022 - 4 ) .

Brain Power International Limited (Registered number: 01842016)

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


4. Tangible fixed assets
Fixtures Scientific
Freehold Plant and and research
property machinery fittings laboratory Totals
£    £    £    £    £   
Cost or valuation
At 1 January 2023 244,713 88,520 58,202 46,006 437,441
Revaluations 236,787 - - - 236,787
At 31 December 2023 481,500 88,520 58,202 46,006 674,228
Depreciation
At 1 January 2023 114,848 86,720 56,063 22,800 280,431
Charge for year 4,895 270 1,176 920 7,261
Revaluation adjustments (119,743 ) - - - (119,743 )
At 31 December 2023 - 86,990 57,239 23,720 167,949
Net book value
At 31 December 2023 481,500 1,530 963 22,286 506,279
At 31 December 2022 129,865 1,800 2,139 23,206 157,010

The fair value of the freehold property has been arrived at on the basis of a valuation carried out on 14 March 2024 by Underwoods, Chartered Surveyors, who are not connected with the company.
The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The cost of the property was £244,713 (2022 £ 244,713.)

5. Investment property
Total
£   
Fair value
At 1 January 2023 1,250,000
Revaluations (340,000 )
At 31 December 2023 910,000
Net book value
At 31 December 2023 910,000
At 31 December 2022 1,250,000

Brain Power International Limited (Registered number: 01842016)

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


5. Investment property - continued

The fair value of the investment property has been arrived at on the basis of a valuation carried out on 14 March 2024 by Underwoods, Chartered Surveyors, who are not connected with the company.
The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 468,130
Cost 441,870
910,000

6. Debtors: amounts falling due within one year
31.12.23 31.12.22
£    £   
Trade debtors 34,959 29,697
Other debtors 467,475 369,289
502,434 398,986

7. Current asset investments
31.12.23 31.12.22
£    £   
Listed investments 281,278 335,433

8. Creditors: amounts falling due within one year
31.12.23 31.12.22
£    £   
Trade creditors 1,279,540 1,227,617
Other creditors 145,892 141,722
1,425,432 1,369,339

9. Creditors: amounts falling due after more than one year
31.12.23 31.12.22
£    £   
Other creditors 870,850 870,850

Brain Power International Limited (Registered number: 01842016)

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


10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary 1 100 100

11. Reserves
Revaluation
reserve
£   
At 1 January 2023 808,130
Revaluation 16,530

At 31 December 2023 824,660

12. Related party disclosures

One of the directors, Dr Wertheim, has loaned £870,850 to the company. This amount is not repayable in the foreseeable future, is secured by a charge on the company's freehold land and buildings. The company pays Dr Wertheim interest of £77,700 each year on the loan.

The director owes the company £447,157 (2022- £342,634). This is shown in debtors.