Silverfin false false 31/03/2024 01/04/2023 31/03/2024 D R Brod 08/10/2012 C L W Luxton 01/08/2013 19 November 2024 The principal activity of the company during the financial year was that of the retail of cosmetics. 08243159 2024-03-31 08243159 bus:Director1 2024-03-31 08243159 bus:Director2 2024-03-31 08243159 2023-03-31 08243159 core:CurrentFinancialInstruments 2024-03-31 08243159 core:CurrentFinancialInstruments 2023-03-31 08243159 core:Non-currentFinancialInstruments 2024-03-31 08243159 core:Non-currentFinancialInstruments 2023-03-31 08243159 core:ShareCapital 2024-03-31 08243159 core:ShareCapital 2023-03-31 08243159 core:RetainedEarningsAccumulatedLosses 2024-03-31 08243159 core:RetainedEarningsAccumulatedLosses 2023-03-31 08243159 core:OtherResidualIntangibleAssets 2023-03-31 08243159 core:OtherResidualIntangibleAssets 2024-03-31 08243159 core:PlantMachinery 2023-03-31 08243159 core:OfficeEquipment 2023-03-31 08243159 core:PlantMachinery 2024-03-31 08243159 core:OfficeEquipment 2024-03-31 08243159 core:CurrentFinancialInstruments core:Secured 2024-03-31 08243159 core:WithinOneYear 2024-03-31 08243159 core:WithinOneYear 2023-03-31 08243159 core:BetweenOneFiveYears 2024-03-31 08243159 core:BetweenOneFiveYears 2023-03-31 08243159 2023-04-01 2024-03-31 08243159 bus:FilletedAccounts 2023-04-01 2024-03-31 08243159 bus:SmallEntities 2023-04-01 2024-03-31 08243159 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08243159 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08243159 bus:Director1 2023-04-01 2024-03-31 08243159 bus:Director2 2023-04-01 2024-03-31 08243159 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 08243159 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 08243159 core:PlantMachinery 2023-04-01 2024-03-31 08243159 core:OfficeEquipment 2023-04-01 2024-03-31 08243159 2022-04-01 2023-03-31 08243159 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 08243159 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 08243159 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 08243159 (England and Wales)

BRAMLEY PRODUCTS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BRAMLEY PRODUCTS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BRAMLEY PRODUCTS LTD

BALANCE SHEET

As at 31 March 2024
BRAMLEY PRODUCTS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,811 2,081
Tangible assets 4 44,927 40,375
46,738 42,456
Current assets
Stocks 5 765,070 559,695
Debtors 6 290,499 234,700
Cash at bank and in hand 936,178 918,216
1,991,747 1,712,611
Creditors: amounts falling due within one year 7 ( 413,323) ( 320,774)
Net current assets 1,578,424 1,391,837
Total assets less current liabilities 1,625,162 1,434,293
Creditors: amounts falling due after more than one year 8 ( 13,918) ( 24,083)
Provision for liabilities 9 ( 11,075) ( 9,984)
Net assets 1,600,169 1,400,226
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,600,069 1,400,126
Total shareholders' funds 1,600,169 1,400,226

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bramley Products Ltd (registered number: 08243159) were approved and authorised for issue by the Board of Directors on 19 November 2024. They were signed on its behalf by:

D R Brod
Director
BRAMLEY PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BRAMLEY PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bramley Products Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 Chaldicott Barns Tokes Lane, Semley, Shaftesbury, SP7 9AW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 19

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 2,698 2,698
At 31 March 2024 2,698 2,698
Accumulated amortisation
At 01 April 2023 617 617
Charge for the financial year 270 270
At 31 March 2024 887 887
Net book value
At 31 March 2024 1,811 1,811
At 31 March 2023 2,081 2,081

4. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 April 2023 40,607 10,384 50,991
Additions 13,534 1,639 15,173
At 31 March 2024 54,141 12,023 66,164
Accumulated depreciation
At 01 April 2023 6,187 4,429 10,616
Charge for the financial year 9,356 1,265 10,621
At 31 March 2024 15,543 5,694 21,237
Net book value
At 31 March 2024 38,598 6,329 44,927
At 31 March 2023 34,420 5,955 40,375

5. Stocks

2024 2023
£ £
Stocks 765,070 559,695

6. Debtors

2024 2023
£ £
Trade debtors 235,194 184,227
Amounts owed by Group undertakings 52,348 35,815
Other debtors 2,957 14,658
290,499 234,700

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 10,170 9,915
Trade creditors 124,614 172,461
Amounts owed to Group undertakings 50,580 19,370
Taxation and social security 214,281 105,830
Other creditors 13,678 13,198
413,323 320,774

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 13,918 24,083

Within bank loans is a balance of £24,088 (2023 - £33,998) relating to an outstanding amount due from a Coronavirus Bounce Back Loan. The UK government have guaranteed 100% of the value of the loan.

9. Provision for liabilities

2024 2023
£ £
Deferred tax 11,075 9,984

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 30,000 30,000
between one and five years 35,000 65,000
65,000 95,000

This relates to non-cancellable operating leases for the business premises.

11. Related party transactions

C L W Luxton
The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rate.

At 1 April 2023, the balance owed by the director was £1,333. During the year, £58,398 was advanced to the director, and £61,677 was repaid by the director. At 31 March 2024, the balance owed to the director was £1,946.

At 1 April 2022, the balance owed to the director was £nil. During the year, £49,333 was advanced to the director, and £48,000 was repaid by the director. At 31 March 2023, the balance owed by the director was £1,333.