Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3118807falsetruetrue2023-01-01Non-specified wholesale trade1617The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06958643 2023-01-01 2023-12-31 06958643 2022-01-01 2022-12-31 06958643 2023-12-31 06958643 2022-12-31 06958643 c:Director1 2023-01-01 2023-12-31 06958643 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 06958643 d:Buildings d:ShortLeaseholdAssets 2023-12-31 06958643 d:Buildings d:ShortLeaseholdAssets 2022-12-31 06958643 d:MotorVehicles 2023-01-01 2023-12-31 06958643 d:MotorVehicles 2023-12-31 06958643 d:MotorVehicles 2022-12-31 06958643 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06958643 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06958643 d:FurnitureFittings 2023-01-01 2023-12-31 06958643 d:FurnitureFittings 2023-12-31 06958643 d:FurnitureFittings 2022-12-31 06958643 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06958643 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06958643 d:ComputerEquipment 2023-01-01 2023-12-31 06958643 d:ComputerEquipment 2023-12-31 06958643 d:ComputerEquipment 2022-12-31 06958643 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06958643 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06958643 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06958643 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06958643 d:Goodwill 2023-01-01 2023-12-31 06958643 d:Goodwill 2023-12-31 06958643 d:Goodwill 2022-12-31 06958643 d:ComputerSoftware 2023-12-31 06958643 d:ComputerSoftware 2022-12-31 06958643 d:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 06958643 d:CurrentFinancialInstruments 2023-12-31 06958643 d:CurrentFinancialInstruments 2022-12-31 06958643 d:Non-currentFinancialInstruments 2023-12-31 06958643 d:Non-currentFinancialInstruments 2022-12-31 06958643 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06958643 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06958643 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06958643 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06958643 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 06958643 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 06958643 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 06958643 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 06958643 d:ShareCapital 2023-12-31 06958643 d:ShareCapital 2022-12-31 06958643 d:SharePremium 2023-12-31 06958643 d:SharePremium 2022-12-31 06958643 d:CapitalRedemptionReserve 2023-12-31 06958643 d:CapitalRedemptionReserve 2022-12-31 06958643 d:RetainedEarningsAccumulatedLosses 2023-12-31 06958643 d:RetainedEarningsAccumulatedLosses 2022-12-31 06958643 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06958643 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06958643 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06958643 c:OrdinaryShareClass1 2023-12-31 06958643 c:OrdinaryShareClass1 2022-12-31 06958643 c:OrdinaryShareClass2 2023-01-01 2023-12-31 06958643 c:OrdinaryShareClass2 2023-12-31 06958643 c:OrdinaryShareClass2 2022-12-31 06958643 c:OrdinaryShareClass3 2023-01-01 2023-12-31 06958643 c:OrdinaryShareClass3 2023-12-31 06958643 c:OrdinaryShareClass3 2022-12-31 06958643 c:OrdinaryShareClass4 2023-01-01 2023-12-31 06958643 c:OrdinaryShareClass4 2023-12-31 06958643 c:OrdinaryShareClass4 2022-12-31 06958643 c:OrdinaryShareClass5 2023-01-01 2023-12-31 06958643 c:OrdinaryShareClass5 2023-12-31 06958643 c:OrdinaryShareClass5 2022-12-31 06958643 c:FRS102 2023-01-01 2023-12-31 06958643 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06958643 c:FullAccounts 2023-01-01 2023-12-31 06958643 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06958643 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 06958643 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 06958643 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 06958643 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 06958643 d:HirePurchaseContracts d:MoreThanFiveYears 2023-12-31 06958643 d:HirePurchaseContracts d:MoreThanFiveYears 2022-12-31 06958643 2 2023-01-01 2023-12-31 06958643 4 2023-01-01 2023-12-31 06958643 6 2023-01-01 2023-12-31 06958643 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 06958643 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 06958643 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06958643









BRENNAN ATKINSON INTERNATIONAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
REGISTERED NUMBER: 06958643

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,013,762
1,140,328

Tangible assets
 5 
162,622
73,373

Investments
 6 
20
20

  
1,176,404
1,213,721

Current assets
  

Stocks
  
316,257
307,749

Debtors: amounts falling due within one year
 7 
1,591,396
1,570,502

Cash at bank and in hand
 8 
135,905
162,464

  
2,043,558
2,040,715

Creditors: amounts falling due within one year
 9 
(1,495,993)
(1,365,092)

Net current assets
  
 
 
547,565
 
 
675,623

Total assets less current liabilities
  
1,723,969
1,889,344

Creditors: amounts falling due after more than one year
 10 
(70,833)
(151,533)

Provisions for liabilities
  

Deferred tax
 13 
(35,296)
(9,122)

  
 
 
(35,296)
 
 
(9,122)

Net assets
  
1,617,840
1,728,689


Capital and reserves
  

Called up share capital 
 14 
832
966

Share premium account
  
1,714,614
1,714,614

Capital redemption reserve
  
376
242

Profit and loss account
  
(97,982)
12,867

  
1,617,840
1,728,689


Page 1

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
REGISTERED NUMBER: 06958643
    
BALANCE SHEET (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 statement of comprehensive income 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: 




S D Fine
Director

Date: 28 October 2024

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Brennan Atkinson International Limited is a private company limited by shares and incorporated in England & Wales (registered number: 06958643). 
The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH, and the principal place of business is Wardley Industrial Estate, Holloway Drive, Wardley, Worsley, Manchester, M28 2LA.
The financial statements are presented in Sterling, which is the functional currency of the company.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

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

Sale of goods

Revenue 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 revenue 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.

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
20
years
Other intangible fixed assets
-
10
years

 
2.9

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.

Page 4

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
Motor vehicles
-
20%
Fixtures and fittings
-
20%
Computer equipment
-
20%

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 profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.12

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 out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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 profit or loss.

 
2.13

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 5

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 17).

Page 6

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 January 2023
18,005
2,495,331
2,513,336



At 31 December 2023

18,005
2,495,331
2,513,336



Amortisation


At 1 January 2023
574
1,372,433
1,373,007


Charge for the year on owned assets
1,800
124,767
126,567



At 31 December 2023

2,374
1,497,200
1,499,574



Net book value



At 31 December 2023
15,631
998,131
1,013,762



At 31 December 2022
17,431
1,122,897
1,140,328



Page 7

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
78,794
32,240
76,022
105,352
292,408


Additions
118,000
-
17,880
1,643
137,523



At 31 December 2023

196,794
32,240
93,902
106,995
429,931



Depreciation


At 1 January 2023
65,000
8,107
63,890
82,039
219,036


Charge for the year on owned assets
18,807
-
9,072
12,334
40,213


Charge for the year on financed assets
-
8,060
-
-
8,060



At 31 December 2023

83,807
16,167
72,962
94,373
267,309



Net book value



At 31 December 2023
112,987
16,073
20,940
12,622
162,622



At 31 December 2022
13,794
24,133
12,132
23,313
73,372


6.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 January 2023
20



At 31 December 2023
20




Page 8

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
1,181,171
912,472

Other debtors
336,961
589,030

Prepayments and accrued income
73,264
69,000

1,591,396
1,570,502


Included within other debtors is £66,805 (2022: £6,983) due from a director of the company.


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
135,905
162,464

Less: bank overdrafts
-
(7,418)

135,905
155,046


Page 9

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
7,418

Bank loans
50,000
50,000

Trade creditors
527,253
721,268

Corporation tax
170,490
79,868

Other taxation and social security
258,364
68,950

Obligations under finance lease and hire purchase contracts
-
3,456

Other creditors
234,899
299,971

Accruals and deferred income
254,987
134,161

1,495,993
1,365,092


Bank loans and overdrafts are secured by debenture including fixed charge over all present freehold and leasehold property, first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future, and a first floating charge over all assets and undertaking both present and future dated 5 July 2012.
Hire purchase liabilities are secured against the assets to which they relate.
Other borrowings include £191,200 (2022: £207,736) in respect of the company's invoice discount agreement with ABN Amro Commercial Financial. The amount is secured by a composite all assets guarantee dated 6 June 2012 comprising a fixed and floating charge over the assets and property of the company.


10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
70,833
120,833

Net obligations under finance leases and hire purchase contracts
-
22,367

Other creditors
-
8,333

70,833
151,533


Page 10

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,000
50,000


50,000
50,000

Amounts falling due 1-2 years

Bank loans
50,000
50,000


50,000
50,000

Amounts falling due 2-5 years

Bank loans
20,833
70,833


20,833
70,833


120,833
170,833



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
-
3,456

Between 1-5 years
-
3,456

Over 5 years
-
18,911

-
25,823

Page 11

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Deferred taxation




2023


£






At beginning of year
(9,122)


Charged to profit or loss
(26,174)



At end of year
(35,296)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(35,296)
(9,122)

(35,296)
(9,122)

Page 12

 
BRENNAN ATKINSON INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) A Ordinary shares of £1.00000 each
10
10
35 (2022 - 35) B Ordinary shares of £1.00000 each
35
35
10 (2022 - 10) C Ordinary shares of £1.00000 each
10
10
23 (2022 - 23) D Ordinary shares of £1.00000 each
23
23
22 (2022 - 22) E Ordinary shares of £1.00000 each
22
22
732 (2022 - 866) Preference shares of £1.00000 each
732
866

832

966


Voting rights attached to Ordinary A and Ordinary B shares are calculated at 75% of the members holding as a proportion of the total shares in issue at the date of resolution.
Voting rights attached to Ordinary C, Ordinary D and Ordinary E shares are calculated at 15% of the members holding of shares as a proportion of the shares in issue at the date of resolution.
Voting rights attached to preference shares are calculated at 10% of the members of holding of preference shares as a proportion of the total preference shares in issue at the date of resolution.
The preference shares are redeemable at any point in time at the original subscription price.
On 3 May 2023, 134 preference shares were redeemed for a premium of £250,000.
All shares rank pari pasu in terms of dividends and capital distribution rights.


 
Page 13