Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07147034 V Naumecs M L Glover Callidus Secretaries Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07147034 2022-12-31 07147034 2023-12-31 07147034 2023-01-01 2023-12-31 07147034 frs-core:CurrentFinancialInstruments 2023-12-31 07147034 frs-core:ComputerEquipment 2023-12-31 07147034 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07147034 frs-core:ComputerEquipment 2022-12-31 07147034 frs-core:PlantMachinery 2023-12-31 07147034 frs-core:PlantMachinery 2023-01-01 2023-12-31 07147034 frs-core:PlantMachinery 2022-12-31 07147034 frs-core:ShareCapital 2023-12-31 07147034 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07147034 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07147034 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07147034 frs-bus:SmallEntities 2023-01-01 2023-12-31 07147034 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07147034 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07147034 frs-bus:Director1 2023-01-01 2023-12-31 07147034 frs-bus:Director2 2023-01-01 2023-12-31 07147034 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 07147034 frs-core:CurrentFinancialInstruments 1 2023-12-31 07147034 frs-countries:EnglandWales 2023-01-01 2023-12-31 07147034 2021-12-31 07147034 2022-12-31 07147034 2022-01-01 2022-12-31 07147034 frs-core:CurrentFinancialInstruments 2022-12-31 07147034 frs-core:ShareCapital 2022-12-31 07147034 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07147034 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 07147034
BRW Brokers Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07147034
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,549 1,633
2,549 1,633
CURRENT ASSETS
Debtors 5 337,010 400,289
Cash at bank and in hand 1,342,646 2,893,021
1,679,656 3,293,310
Creditors: Amounts Falling Due Within One Year 6 (892,689 ) (2,187,862 )
NET CURRENT ASSETS (LIABILITIES) 786,967 1,105,448
TOTAL ASSETS LESS CURRENT LIABILITIES 789,516 1,107,081
NET ASSETS 789,516 1,107,081
CAPITAL AND RESERVES
Called up share capital 7 60,000 60,000
Profit and Loss Account 729,516 1,047,081
SHAREHOLDERS' FUNDS 789,516 1,107,081
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
V Naumecs
Director
2 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BRW Brokers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07147034 . The registered office is Dawson House, 5 Jewry Street, London, EC3N 2EX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Computer Equipment 33.33% straight line
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 5 4
5 4
Page 3
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 - 3,964 3,964
Additions 199 2,208 2,407
As at 31 December 2023 199 6,172 6,371
Depreciation
As at 1 January 2023 - 2,331 2,331
Provided during the period 8 1,483 1,491
As at 31 December 2023 8 3,814 3,822
Net Book Value
As at 31 December 2023 191 2,358 2,549
As at 1 January 2023 - 1,633 1,633
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 22,397 23,842
Other debtors 8,061 8,061
Insurance debtors 305,393 306,543
Corporation tax recoverable - 61,843
Amounts owed by group undertakings 1,159 -
337,010 400,289
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other taxes and social security 1 12,506
Other creditors 25,000 25,000
Insurance creditors 861,640 2,124,111
Accruals and deferred income 6,048 26,245
892,689 2,187,862
Other creditors of £25,000 (2022: £25,000) represents a dividend declared in the year ended 31 December 2021 but which hasn't been paid at the end of this financial year.
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 60,000 60,000
8. Client Cash Balance
Included within the Cash at bank and in hand figure is an amount of £864,959 (2022: £2,022,124) that is client money and therefore not available for use by the Company.
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