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REGISTERED NUMBER: NI628283 (Northern Ireland)















BRAETEC LTD

Unaudited Financial Statements for the Year Ended 31 December 2023






BRAETEC LTD (REGISTERED NUMBER: NI628283)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


BRAETEC LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Lee Clarkson
Natalie O'Doherty





REGISTERED OFFICE: 6b Upper Water Street
Newry
Co. Down
BT34 1DJ





REGISTERED NUMBER: NI628283 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

BRAETEC LTD (REGISTERED NUMBER: NI628283)

Statement of Financial Position
31 DECEMBER 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 184,050 186,511

CURRENT ASSETS
Cash at bank 65,788 73,222

PAYABLES
Amounts falling due within one year 6 (91,280 ) (75,729 )
NET CURRENT LIABILITIES (25,492 ) (2,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,558

184,004

PAYABLES
Amounts falling due after more than
one year

7

(24,164

)

(42,489

)
NET ASSETS 134,394 141,515

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 134,294 141,415
134,394 141,515

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 2 September 2024 and were signed on its behalf by:



Lee Clarkson - Director



Natalie O'Doherty - Director


BRAETEC LTD (REGISTERED NUMBER: NI628283)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Braetec Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% straight line
Fixtures and fittings - 15% reducing balance

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

BRAETEC LTD (REGISTERED NUMBER: NI628283)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and
property fittings Totals
£ £ £
COST
At 1 January 2023 222,468 2,755 225,223
Additions - 7,316 7,316
At 31 December 2023 222,468 10,071 232,539
DEPRECIATION
At 1 January 2023 37,385 1,327 38,712
Charge for year 8,898 879 9,777
At 31 December 2023 46,283 2,206 48,489
NET BOOK VALUE
At 31 December 2023 176,185 7,865 184,050
At 31 December 2022 185,083 1,428 186,511

6. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 18,985 21,848
Taxation and social security 17,799 16,633
Other payables 54,496 37,248
91,280 75,729

7. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2022
£ £
Bank loans 24,164 42,489