Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true2023-03-01falseNo description of principal activity581falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09990976 2023-03-01 2024-02-29 09990976 2022-03-01 2023-02-28 09990976 2024-02-29 09990976 2023-02-28 09990976 c:Director3 2023-03-01 2024-02-29 09990976 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 09990976 d:Buildings d:LongLeaseholdAssets 2024-02-29 09990976 d:Buildings d:LongLeaseholdAssets 2023-02-28 09990976 d:PlantMachinery 2023-03-01 2024-02-29 09990976 d:PlantMachinery 2024-02-29 09990976 d:PlantMachinery 2023-02-28 09990976 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09990976 d:FurnitureFittings 2023-03-01 2024-02-29 09990976 d:FurnitureFittings 2024-02-29 09990976 d:FurnitureFittings 2023-02-28 09990976 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09990976 d:ComputerEquipment 2023-03-01 2024-02-29 09990976 d:ComputerEquipment 2024-02-29 09990976 d:ComputerEquipment 2023-02-28 09990976 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09990976 d:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 09990976 d:OtherPropertyPlantEquipment 2024-02-29 09990976 d:OtherPropertyPlantEquipment 2023-02-28 09990976 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09990976 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09990976 d:CurrentFinancialInstruments 2024-02-29 09990976 d:CurrentFinancialInstruments 2023-02-28 09990976 d:Non-currentFinancialInstruments 2024-02-29 09990976 d:Non-currentFinancialInstruments 2023-02-28 09990976 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 09990976 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09990976 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 09990976 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 09990976 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 09990976 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 09990976 d:ShareCapital 2024-02-29 09990976 d:ShareCapital 2023-02-28 09990976 d:CapitalRedemptionReserve 2024-02-29 09990976 d:CapitalRedemptionReserve 2023-02-28 09990976 d:RetainedEarningsAccumulatedLosses 2024-02-29 09990976 d:RetainedEarningsAccumulatedLosses 2023-02-28 09990976 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 09990976 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 09990976 c:FRS102 2023-03-01 2024-02-29 09990976 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09990976 c:FullAccounts 2023-03-01 2024-02-29 09990976 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09990976 2 2023-03-01 2024-02-29 09990976 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 09990976









BROTHER MARCUS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BROTHER MARCUS LIMITED
REGISTERED NUMBER: 09990976

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
219,012
227,655

Investments
 5 
800
200

  
219,812
227,855

Current assets
  

Debtors: amounts falling due within one year
 6 
1,915,490
2,206,373

Cash at bank and in hand
 7 
49,895
15,091

  
1,965,385
2,221,464

Creditors: amounts falling due within one year
 8 
(3,168,898)
(2,724,725)

Net current liabilities
  
 
 
(1,203,513)
 
 
(503,261)

Total assets less current liabilities
  
(983,701)
(275,406)

Creditors: amounts falling due after more than one year
 9 
(163,200)
(253,577)

Provisions for liabilities
  

Deferred tax
  
(16,261)
(4,773)

  
 
 
(16,261)
 
 
(4,773)

Net liabilities
  
(1,163,162)
(533,756)


Capital and reserves
  

Called up share capital 
  
3,250
3,250

Capital redemption reserve
  
750
750

Profit and loss account
  
(1,167,162)
(537,756)

  
(1,163,162)
(533,756)


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
Page 1

 
BROTHER MARCUS LIMITED
REGISTERED NUMBER: 09990976
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

to the small companies regime.

The Company has opted not to file the profit and loss account 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: 




................................................
Alexander Robert Large
Director

Date: 15 November 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Brother Marcus Limited is a private company limited by shares incorporated in England and Wales. The
registered office is 65 Brushfield Street, London, England, E1 6AA.

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:

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.

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.

Page 3

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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.

Page 4

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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.

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:

Long-term leasehold property
-
Over the period of 10 years
Plant and machinery
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%
Other fixed assets
-
10%

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.

Page 5

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 81).


4.


Tangible fixed assets







Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 March 2023
342,716
100,733
-
-
-


Additions
5,150
19,380
9,691
125
1,365



At 29 February 2024

347,866
120,113
9,691
125
1,365



Depreciation


At 1 March 2023
124,393
91,401
-
-
-


Charge for the year on owned assets
34,693
7,751
1,859
27
24



At 29 February 2024

159,086
99,152
1,859
27
24



Net book value
Page 6

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

           4.Tangible fixed assets (continued)




At 29 February 2024
188,780
20,961
7,832
98
1,341



At 28 February 2023
218,323
9,332
-
-
-

Total

£



Cost or valuation


At 1 March 2023
443,449


Additions
35,711



At 29 February 2024

479,160



Depreciation


At 1 March 2023
215,794


Charge for the year on owned assets
44,354



At 29 February 2024

260,148



Net book value



At 29 February 2024
219,012



At 28 February 2023
227,655

Page 7

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
200


Additions
600



At 29 February 2024
800





6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
1,240,075
1,244,612

Amounts owed by group undertakings
376,831
650,416

Other debtors
292,853
279,870

Called up share capital not paid
1,175
1,175

Prepayments and accrued income
4,556
30,300

1,915,490
2,206,373



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
49,895
15,091

49,895
15,091


Page 8

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
955,105
906,392

Trade creditors
387,115
403,306

Amounts owed to group undertakings
1,725,070
1,318,517

Other creditors
82,451
86,705

Accruals and deferred income
19,157
9,805

3,168,898
2,724,725



9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
163,200
253,577

163,200
253,577



10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
955,105
906,392


955,105
906,392


Amounts falling due 2-5 years

Bank loans
163,200
253,577


163,200
253,577


1,118,305
1,159,969


Page 9

 
BROTHER MARCUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Deferred taxation






2024


£






At beginning of year
(4,773)


Charged to profit or loss
(11,488)



At end of year
(16,261)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(16,261)
(4,773)

(16,261)
(4,773)


12.


Related party transactions

At the year end the company owed £58,026 to (2023 - £37,426) the directors of the company, in respect of an interest free loan which is repayable on demand.
At the year end the company was owed £145,705 (2023 - £603,640) by BM Spitalfields Limited, a related company, in respect of an interest free loan which is repayable on demand.
At the year end the company owed £1,497,505 (2023 - £1,242,469) to BM Angel Limited, a related company, in respect of an interest free loan which is repayable on demand.
At the year end the company was owed £167,211 (2023 - 46,777) by BM South Kensington Limited, a related company, in respect of an interest free loan which is repayable on demand.
At the year end the company owed £227,505 to (2023 - £76,048 was owed by) BM Borough Limited, a related company, in respect of an interest free loan which is repayable on demand.

 
Page 10