Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2No description of principal activity2023-03-01falsetrue2falsefalse 11528438 2023-03-01 2024-02-29 11528438 2024-02-29 11528438 2022-03-01 2023-02-28 11528438 2023-02-28 11528438 c:Director1 2023-03-01 2024-02-29 11528438 d:CurrentFinancialInstruments 2024-02-29 11528438 d:CurrentFinancialInstruments 2023-02-28 11528438 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11528438 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11528438 d:ShareCapital 2024-02-29 11528438 d:ShareCapital 2023-02-28 11528438 d:RetainedEarningsAccumulatedLosses 2024-02-29 11528438 d:RetainedEarningsAccumulatedLosses 2023-02-28 11528438 c:FRS102 2023-03-01 2024-02-29 11528438 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11528438 c:FullAccounts 2023-03-01 2024-02-29 11528438 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11528438 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 11528438


BRAEMAR AVENUE LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024
These draft accounts may be subject to material change before finalisation. This information is provided in confidence and is only to be used by the addressee. Wellers and its employees can accept no responsibility (financial or otherwise) in connection with the information provided. If necessary, please contact the relevant office for further clarification.

 
BRAEMAR AVENUE LTD
REGISTERED NUMBER: 11528438

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Current assets
  

Stocks
  
212,541
147,941

Debtors: amounts falling due within one year
 4 
3,037
6,437

Cash at bank and in hand
 5 
666
1,004

  
216,244
155,382

Creditors: amounts falling due within one year
 6 
(226,704)
(158,872)

Net current liabilities
  
 
 
(10,460)
 
 
(3,490)

Total assets less current liabilities
  
(10,460)
(3,490)

  

Net liabilities
  
(10,460)
(3,490)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(10,461)
(3,491)

  
(10,460)
(3,490)


Page 1

 
BRAEMAR AVENUE LTD
REGISTERED NUMBER: 11528438
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 income and retained earnings 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: 




................................................
A Budgen
Director
Date: 29 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BRAEMAR AVENUE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Braemar Avenue Ltd is a private limited company which is incorporated and domiciled
in the UK. The registered office address is 1 Vincent Square, London, SW1P 2PN.

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

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.

 
2.3

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.

 
2.4

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.

 
2.5

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.

Page 3

 
BRAEMAR AVENUE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

  
2.6

Going Concern

The financial statements have been prepared on a going concern basis. 
Whilst the balance sheet shows a net liability position, it is anticipated that the stock balances held on the balance sheet will be sold for a profit. Furthermore, the directors intend to support the company indefinitely. 
At the point these accounts were issued for signature, it is considered that the company will continue to trade for a minimum of 12 months from the signature date.

Page 4

 
BRAEMAR AVENUE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
3,037
6,437

3,037
6,437



5.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
666
1,004

666
1,004



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
-
15,281

Amounts owed to group undertakings
-
121,071

Other creditors
224,211
21,720

Accruals and deferred income
2,493
800

226,704
158,872


Page 5

 
BRAEMAR AVENUE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Related party transactions

Included within amounts owed to group undertakings is an amount of £nil (2023: £121,071) owing to the company's parent company,  Urbanlab Ltd.
Included  within  other  creditors is an amount of £600 (2023: £600) owing to The Lab Developments (Creative Living) Ltd, a company under the common control of the shareholders of Braemar Avenue Ltd.
Also included  within  other  creditors is an amount of £nil (2023: £15,360) owing to SpacelabUK Limited, a company under the common control of the shareholders of Braemar Avenue Ltd.
Also included  within  other  creditors is an amount of £540 (2023: £540) owing to West Ham Lane Developments Ltd, a company under the common control of the shareholders of Braemar Avenue Ltd.
Balances of £111,536 (2023: £nil) and £111,536 (2023: £nil) are due to directors Andrew Budgen and Nathan Lonsdale.

 
Page 6