Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.112023-02-01falsefalseAccountancy practice11truetrue 5901666 2023-02-01 2024-01-31 5901666 2022-02-01 2023-01-31 5901666 2024-01-31 5901666 2023-01-31 5901666 c:Director1 2023-02-01 2024-01-31 5901666 d:FurnitureFittings 2023-02-01 2024-01-31 5901666 d:FurnitureFittings 2024-01-31 5901666 d:FurnitureFittings 2023-01-31 5901666 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 5901666 d:OfficeEquipment 2023-02-01 2024-01-31 5901666 d:OfficeEquipment 2024-01-31 5901666 d:OfficeEquipment 2023-01-31 5901666 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 5901666 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 5901666 d:Goodwill 2023-02-01 2024-01-31 5901666 d:Goodwill 2024-01-31 5901666 d:Goodwill 2023-01-31 5901666 d:CurrentFinancialInstruments 2024-01-31 5901666 d:CurrentFinancialInstruments 2023-01-31 5901666 d:Non-currentFinancialInstruments 2024-01-31 5901666 d:Non-currentFinancialInstruments 2023-01-31 5901666 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 5901666 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 5901666 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 5901666 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 5901666 d:ShareCapital 2024-01-31 5901666 d:ShareCapital 2023-01-31 5901666 d:RetainedEarningsAccumulatedLosses 2024-01-31 5901666 d:RetainedEarningsAccumulatedLosses 2023-01-31 5901666 c:FRS102 2023-02-01 2024-01-31 5901666 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 5901666 c:FullAccounts 2023-02-01 2024-01-31 5901666 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 5901666 d:WithinOneYear 2024-01-31 5901666 d:WithinOneYear 2023-01-31 5901666 d:BetweenOneFiveYears 2024-01-31 5901666 d:BetweenOneFiveYears 2023-01-31 5901666 2 2023-02-01 2024-01-31 5901666 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 5901666 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 5901666









BFE BRAYS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
BFE BRAYS LIMITED
REGISTERED NUMBER: 5901666

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
83,050
110,800

Tangible assets
 5 
2,445
2,389

  
85,495
113,189

Current assets
  

Stocks
  
68,900
72,473

Debtors: amounts falling due within one year
 6 
129,964
85,041

Cash at bank and in hand
 7 
41,596
53,941

  
240,460
211,455

Creditors: amounts falling due within one year
 8 
(164,759)
(156,803)

Net current assets
  
 
 
75,701
 
 
54,652

Total assets less current liabilities
  
161,196
167,841

Creditors: amounts falling due after more than one year
 9 
-
(8,182)

  

Net assets
  
161,196
159,659


Capital and reserves
  

Called up share capital 
  
45,003
45,003

Profit and loss account
  
116,193
114,656

  
161,196
159,659


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.
 
Page 1

 
BFE BRAYS LIMITED
REGISTERED NUMBER: 5901666
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024


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: 




L J Bentley
Director

Date: 30 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BFE BRAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

BFE Brays Limited is a private company limited by shares and registered in England & Wales. Its registered office is Building Society Chambers, Wesley Street, Otley, West Yorkshire, LS21 1AZ and its registered number is 5901666.
 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

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

 
2.5

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.

Page 3

 
BFE BRAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

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.

 
2.9

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.





 
2.10

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

 
BFE BRAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.


Fixtures and fittings
-
25% reducing balance
Office equipment
-
33% straight line

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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress includes 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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
BFE BRAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).


4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
540,000



At 31 January 2024

540,000



Amortisation


At 1 February 2023
429,200


Charge for the year on owned assets
27,750



At 31 January 2024

456,950



Net book value



At 31 January 2024
83,050



At 31 January 2023
110,800



Page 6

 
BFE BRAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
8,760
13,300
22,060


Additions
1,003
-
1,003


Disposals
(1,004)
-
(1,004)



At 31 January 2024

8,759
13,300
22,059



Depreciation


At 1 February 2023
6,372
13,299
19,671


Charge for the year on owned assets
813
-
813


Disposals
(870)
-
(870)



At 31 January 2024

6,315
13,299
19,614



Net book value



At 31 January 2024
2,444
1
2,445



At 31 January 2023
2,388
1
2,389

Page 7

 
BFE BRAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
90,515
55,855

Other debtors
22,390
11,513

Prepayments and accrued income
17,059
17,673

129,964
85,041


Included within other debtors due within one year is a loan to a director, amounting to £21,960 (2023 - £10,957).   The main conditions were as follows:

Interest to be paid at the offcial rate and the loan to be repaid within 9 months of the year end.


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
41,596
53,941

41,596
53,941



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,182
16,364

Trade creditors
7,387
6,725

Taxation and social security
45,203
50,194

Other creditors
101,647
80,015

Accruals and deferred income
2,340
3,505

164,759
156,803


Page 8

 
BFE BRAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
8,182

-
8,182



10.


Pension commitments

The Company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £5,385 (2023 - £5,012). Contributions totalling £954 (2023 - £800) were payable to the funds at the balance sheet date.


11.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
1,330
1,330

Later than 1 year and not later than 5 years
2,440
3,769

3,770
5,099

 
Page 9