Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 true 1 January 2023 31 December 2023 31 December 2023 07205012 V Naumecs M L Glover Callidus Secretaries Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07205012 2022-12-31 07205012 2023-12-31 07205012 2023-01-01 2023-12-31 07205012 frs-core:CurrentFinancialInstruments 2023-12-31 07205012 frs-core:Non-currentFinancialInstruments 2023-12-31 07205012 frs-core:ShareCapital 2023-12-31 07205012 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07205012 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07205012 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07205012 frs-bus:FullAccounts 2023-01-01 2023-12-31 07205012 frs-bus:SmallEntities 2023-01-01 2023-12-31 07205012 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07205012 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07205012 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-01-01 2023-12-31 07205012 frs-core:CostValuation 2022-12-31 07205012 frs-core:DisposalsRepaymentsInvestments 2023-12-31 07205012 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInInvestments 2023-12-31 07205012 frs-core:CostValuation 2023-12-31 07205012 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 07205012 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 07205012 frs-bus:Director1 2023-01-01 2023-12-31 07205012 frs-bus:Director2 2023-01-01 2023-12-31 07205012 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 07205012 frs-countries:EnglandWales 2023-01-01 2023-12-31 07205012 2021-12-31 07205012 2022-12-31 07205012 2022-01-01 2022-12-31 07205012 frs-core:CurrentFinancialInstruments 2022-12-31 07205012 frs-core:Non-currentFinancialInstruments 2022-12-31 07205012 frs-core:ShareCapital 2021-12-31 07205012 frs-core:ShareCapital 2022-12-31 07205012 frs-core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07205012 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-12-31 07205012 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07205012
BRW Brokers Holdings Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Financial Statements 8—9
Page 1
Company Information
Directors V Naumecs
M L Glover
Secretary Callidus Secretaries Limited
Company Number 07205012
Registered Office Dawson House
5 Jewry Street
London
EC3N 2EX
Accountants MJL Accountancy Ltd
Pantiles Chambers
85 High Street
Tunbridge Wells
TN1 1XP
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2023.
Principal Activity
The company's principal activity continues to be that of a holding company.
Dividends
Dividends of £87,075 were declared during the year. As at the year-end, £17,070 remains unpaid. 
Directors
The directors who held office during the year were as follows:
V Naumecs
M L Glover
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to: 
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
V Naumecs
Director
5 September 2024
Page 2
Page 3
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of BRW Brokers Holdings Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of BRW Brokers Holdings Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of BRW Brokers Holdings Limited , as a body, in accordance with the terms of our engagement letter dated 24 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of BRW Brokers Holdings Limited and state those matters that we have agreed to state to the directors of BRW Brokers Holdings Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BRW Brokers Holdings Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that BRW Brokers Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of BRW Brokers Holdings Limited . You consider that BRW Brokers Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of BRW Brokers Holdings Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
5 September 2024
MJL Accountancy Ltd
Pantiles Chambers
85 High Street
Tunbridge Wells
TN1 1XP
Page 3
Page 4
Profit and Loss Account
2023 2022
Notes £ £
Administrative expenses (1,487 ) (240 )
OPERATING LOSS (1,487 ) (240 )
Profit/(loss) on disposal of fixed asset investments 3,249 (63,829)
Other interest receivable and similar income 2,545 3,688
Interest payable and similar charges (3,673 ) 3,703
PROFIT/(LOSS) BEFORE TAXATION 634 (56,678 )
Tax on Profit/(loss) (120 ) (1,114 )
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR 514 (57,792 )
The notes on pages 8 to 9 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 61,952 64,338
61,952 64,338
CURRENT ASSETS
Debtors 5 160,547 155,255
Cash at bank and in hand 31,599 103,743
192,146 258,998
Creditors: Amounts Falling Due Within One Year 6 (22,775 ) (5,452 )
NET CURRENT ASSETS (LIABILITIES) 169,371 253,546
TOTAL ASSETS LESS CURRENT LIABILITIES 231,323 317,884
Creditors: Amounts Falling Due After More Than One Year 7 (60,000 ) (60,000 )
NET ASSETS 171,323 257,884
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 171,223 257,784
SHAREHOLDERS' FUNDS 171,323 257,884
Page 5
Page 6
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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
V Naumecs
Director
5 September 2024
The notes on pages 8 to 9 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2022 100 315,576 315,676
Loss for the year and total comprehensive income - (57,792 ) (57,792)
As at 31 December 2022 and 1 January 2023 100 257,784 257,884
Profit for the year and total comprehensive income - 514 514
Dividends paid - (87,075) (87,075)
As at 31 December 2023 100 171,223 171,323
Page 7
Page 8
Notes to the Financial Statements
1. General Information
BRW Brokers Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07205012 . 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. 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.
2.3. 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: NIL (2022: NIL)
- -
4. Investments
Subsidiaries Associates Total
£ £ £
Cost
As at 1 January 2023 64,338 - 64,338
Disposals - (2,386 ) (2,386 )
Transfers (4,337 ) 4,337 -
As at 31 December 2023 60,001 1,951 61,952
Provision
As at 1 January 2023 - - -
As at 31 December 2023 - - -
...CONTINUED
Page 8
Page 9
Net Book Value
As at 31 December 2023 60,001 1,951 61,952
As at 1 January 2023 64,338 - 64,338
The company owns:
a) 100% of the £1 ordinary shares of BRW Brokers Limited, a company incorporated in England. The loss for the year after taxation was £317,565 (2022: £283,929) and the aggregate share capital and reserves were £789,516 (2022:£1,107,081).
b) 100% of the £1 ordinary shares of Whitecap BRWUW Limited, a company incorporated in England and Wales. The entity has not traded in the year and the aggregate share capital and reserves were £1 at the year end.
a) 45% (100% at the beginning of the year) of the EUR 1 ordinary shares of Whitecap Underwriting Europe s.r.o, a company incorporated in the Czech Republic. The profit for the year after taxation was £3,365 (2022: loss £7,909) and the aggregate share capital and reserves were £57,470 (2022: £58,915).
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 160,547 155,255
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 120 1,114
Other creditors 4,338 4,338
Accruals and deferred income 18,317 -
22,775 5,452
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Directors loan account 60,000 60,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 9