REGISTERED NUMBER: |
Abridged Financial Statements for the Year Ended 31 December 2023 |
for |
Brandco Management Limited |
REGISTERED NUMBER: |
Abridged Financial Statements for the Year Ended 31 December 2023 |
for |
Brandco Management Limited |
Brandco Management Limited (Registered number: 04472309) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Brandco Management Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
31 Walker Avenue |
Wolverton Mill East |
Milton Keynes |
Buckinghamshire |
MK12 5TW |
Brandco Management Limited (Registered number: 04472309) |
Abridged Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Brandco Management Limited (Registered number: 04472309) |
Abridged Statement of Financial Position - continued |
31 December 2023 |
The financial statements were approved by the director and authorised for issue on |
Brandco Management Limited (Registered number: 04472309) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Brandco Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The director has considered the trading and cash flow position of the company for a period of 12 months from the date of approval of the financial statements. The company has the continued support of its director and its parent company. The director considers that the going concern basis of preparation to be appropriate. |
Preparation of consolidated financial statements |
The financial statements present information about Brandco Management Limited as an individual undertaking and do not contain consolidated information about its group . The company is exempt under Section 248 of the Companies Act 1985 from the requirement to prepare consolidated financial statements . |
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 |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 statement of financial position date. |
Brandco Management Limited (Registered number: 04472309) |
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 statement of financial position 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 statement of financial position 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Brandco Management Limited (Registered number: 04472309) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdraft |
Bank loans & import loans | - | 65,264 |
The bank facilities are secured by a fixed and floating charge over all the assets and undertaking of Brandco Management Limited together with unlimited Cross Guarantees by Brandco Management Limited and Brandco Holdings Limited to secure the liabilities of each other. |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date the sum of £585 (2022 - £585 ) is owed to the director. £585 was the maximum amount outstanding during the year. Interest has not been paid or accrued on the sum outstanding. |
8. | RELATED PARTY DISCLOSURES |
During the period the company has not incurred management fees from MAT Resolutions Limited, a company in which Mr M.A.Aynsley and Mrs P.A.Aynsley are directors and shareholders. At the balance sheet date the sum of £nil (2022 - £18,800) was outstanding. The transactions are on a commercial and arms length basis. |