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Registration number: 05980295

Brauer Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

image-name
 

Brauer Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Brauer Limited

Company Information

Directors

Mr AN Taylor

Mr M Jabri

Registered office

Dawson Road
Mount Farm Estate
Milton Keynes
Buckinghamshire
MK1 1JP

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Brauer Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Brauer Limited for the year ended 30 June 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm 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/regulation.

This report is made solely to the Board of Directors of Brauer Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Brauer Limited and state those matters that we have agreed to state to the Board of Directors of Brauer 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 Brauer Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Brauer 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 of Brauer Limited. You consider that Brauer Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Brauer 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 statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

25 October 2024

 

Brauer Limited

(Registration number: 05980295)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

50,168

62,862

Current assets

 

Stocks

5

98,257

88,217

Debtors

6

2,072,247

1,386,700

Cash at bank and in hand

 

1,198

25,303

 

2,171,702

1,500,220

Creditors: Amounts falling due within one year

7

(1,055,964)

(791,006)

Net current assets

 

1,115,738

709,214

Total assets less current liabilities

 

1,165,906

772,076

Creditors: Amounts falling due after more than one year

7

(23,213)

(1,810)

Net assets

 

1,142,693

770,266

Capital and reserves

 

Called up share capital

200

200

Retained earnings

1,142,493

770,066

Shareholders' funds

 

1,142,693

770,266

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

 

Brauer Limited

(Registration number: 05980295)
Balance Sheet as at 30 June 2024

.........................................
Mr AN Taylor
Director

   
     
 

Brauer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, 05980295.

The address of its registered office is:
Dawson Road
Mount Farm Estate
Milton Keynes
Buckinghamshire
MK1 1JP
UK

These financial statements were authorised for issue by the Board on 25 October 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

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

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

 

Brauer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

in accordance with property lease

Plant and machinery

25% on cost

Motor vehicles

25% on cost

Negative goodwill

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Brauer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Contributions

EOT contributions are recognised as a liability in the financial statements in the reporting period in which the contributions are paid.

 

Brauer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Factoring

The company operates a trade debtor factoring arrangement whereby up to 85% of the company's approved trade debtor balances are collected under the recourse debt factoring agreement.

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 37 (2023 - 37).

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

19,457

273,323

50,339

343,119

Additions

-

-

31,421

31,421

Disposals

-

-

(33,467)

(33,467)

At 30 June 2024

19,457

273,323

48,293

341,073

Depreciation

At 1 July 2023

3,891

241,289

35,078

280,258

Charge for the year

3,891

24,534

10,111

38,536

Eliminated on disposal

-

-

(27,889)

(27,889)

At 30 June 2024

7,782

265,823

17,300

290,905

Carrying amount

At 30 June 2024

11,675

7,500

30,993

50,168

At 30 June 2023

15,566

32,035

15,261

62,862

 

Brauer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Leased assets
Included within the net book value of tangible fixed assets is £27,493 (2023: £17,630) in respect of assets held under finance lease and similar hire purchase contracts. Depreciation for the year on these assets was £15,979 (2023: £21,855).

5

Stocks

2024
£

2023
£

Inventory

98,257

88,217

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

526,504

537,658

Amounts owed by related parties

1,460,000

800,000

Prepayments

 

81,008

48,415

Other debtors

 

4,735

627

   

2,072,247

1,386,700

The carrying amount of trade debtors pledged as security for liabilities amounted to £526,504 (2023 - £537,658).

The company uses a recourse debt factoring arrangement in respect of its trade debtors. Net amounts advanced by the factor are shown as a separate asset/liability (see notes 6 and 7).

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Obligations under finance lease and hire purchase contracts

9,285

6,000

Trade creditors

 

303,423

304,960

PAYE and NIC creditor

 

54,887

48,400

VAT Control account

 

2,655

54,699

Other creditors

 

60,492

110,674

Factoring debts

 

229,503

224,330

Accruals

 

16,567

22,380

Corporation tax control

 

379,152

19,563

 

1,055,964

791,006

 

Brauer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Obligations under finance lease and hire purchase contracts

23,213

1,810

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £822,500 (2023 - £927,500). This is the amount of rent due for use of the premises up to the expiry of the lease.

9

Parent and ultimate parent undertaking

The ultimate parent company of Brauer Limited is JSH Engineering Group EOT Limited. The EOT contributions of £777,500 (2023: £750,000) were paid to JSH Engineering Group Limited.

10 EOT

The company is part of an Employment Ownership Trust. The contributions are contributions to JSH Engineering Group EOT Limited, as the trustee of an employee ownership trust established in accordance with sections 236H to 236U of the Taxation of Chargeable Gains Act 1992, in relation to transactions which received clearance from HMRC with reference numbers T1600/5219/22/NR and 1600/6083/22/NR.