Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04384012 2023-01-01 2023-12-31 04384012 2022-01-01 2022-12-31 04384012 2023-12-31 04384012 2022-12-31 04384012 c:Director2 2023-01-01 2023-12-31 04384012 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 04384012 d:Buildings d:LongLeaseholdAssets 2023-12-31 04384012 d:Buildings d:LongLeaseholdAssets 2022-12-31 04384012 d:ComputerEquipment 2023-01-01 2023-12-31 04384012 d:ComputerEquipment 2023-12-31 04384012 d:ComputerEquipment 2022-12-31 04384012 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04384012 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04384012 d:CurrentFinancialInstruments 2023-12-31 04384012 d:CurrentFinancialInstruments 2022-12-31 04384012 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04384012 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04384012 d:ShareCapital 2023-12-31 04384012 d:ShareCapital 2022-12-31 04384012 d:SharePremium 2023-12-31 04384012 d:SharePremium 2022-12-31 04384012 d:RetainedEarningsAccumulatedLosses 2023-12-31 04384012 d:RetainedEarningsAccumulatedLosses 2022-12-31 04384012 c:FRS102 2023-01-01 2023-12-31 04384012 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04384012 c:FullAccounts 2023-01-01 2023-12-31 04384012 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04384012 2 2023-01-01 2023-12-31 04384012 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04384012










JAMES BRETT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
JAMES BRETT LIMITED
REGISTERED NUMBER: 04384012

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,205
1,612

  
1,205
1,612

Current assets
  

Stocks
  
360,458
363,433

Debtors: amounts falling due within one year
 5 
7,725
3,636

Cash at bank and in hand
  
37,784
88,191

  
405,967
455,260

Creditors: amounts falling due within one year
 6 
(252,434)
(279,316)

Net current assets
  
 
 
153,533
 
 
175,944

Total assets less current liabilities
  
154,738
177,556

  

Net assets
  
154,738
177,556


Capital and reserves
  

Called up share capital 
  
7,736
7,736

Share premium account
  
1,251,870
1,251,870

Profit and loss account
  
(1,104,868)
(1,082,050)

  
154,738
177,556


Page 1

 
JAMES BRETT LIMITED
REGISTERED NUMBER: 04384012
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income statement 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: 




T B R S Brett
Director

Date: 19 June 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

James Brett Limited is a private company limited by shares and incorporated in England and Wales, registration number 04384012. The registered office is The Warehouse, 16 Ten Bell Lane, Norwich, Norfolk, NR2 1HE.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The company meets its day to day working capital requirements through cash injections by a director. The director does not intend to call upon his loan account unless the company has sufficient funds to repay it.
After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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.

Page 3

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

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.

 
2.6

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.

Depreciation is provided on the following basis:

Land and buildings - leasehold
-
10% straight line
Computer equipment
-
25% straight line

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 the Income Statement.

 
2.7

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 outbasis. Work in progress and finished goods include labour and attributable overheads.
At each reporting 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 the Income Statement.

 
2.8

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.

Page 4

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

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 3 (2022 - 3).

Page 5

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold land and buildings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
1,978
833
2,811



At 31 December 2023

1,978
833
2,811



Depreciation


At 1 January 2023
990
209
1,199


Charge for the year on owned assets
198
209
407



At 31 December 2023

1,188
418
1,606



Net book value



At 31 December 2023
790
415
1,205



At 31 December 2022
988
624
1,612

Page 6

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
6,645
-

Other debtors
490
616

Prepayments and accrued income
590
3,020

7,725
3,636



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
21
91

Other creditors
250,373
277,527

Accruals and deferred income
2,040
1,698

252,434
279,316



7.


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 paid by the company to the fund and amounted to £106 (2022: £173). Contributions totalling £17 (2022: £19) were payable to the fund at the statement of financial position date. 


8.


Related party transactions

At the year end a director was owed £250,470 (2022: £277,527).  The company rents a property from a director at £3,500 per annum. 

 
Page 7