Company registration number 07407811 (England and Wales)
BRAY SOLUTIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
BRAY SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BRAY SOLUTIONS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
286,196
316,003
Current assets
Debtors
4
1,482,889
1,413,139
Cash at bank and in hand
106,350
469,854
1,589,239
1,882,993
Creditors: amounts falling due within one year
5
(2,066,130)
(1,994,477)
Net current liabilities
(476,891)
(111,484)
Net (liabilities)/assets
(190,695)
204,519
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(191,695)
203,519
Total equity
(190,695)
204,519

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
R V Mawhood
Director
Company registration number 07407811 (England and Wales)
BRAY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Bray Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Sheraton House, Lower Road, Chorleywood, Hertfordshire, United Kingdom, WD3 5LH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for at least 12 months from the date of signing these accounts and the group has confirmed that it will continue to support the company financially for the foreseeable future.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% Reducing balance
Fixtures, fittings & equipment
20% Reducing balance
Motor vehicles
Straight line over 3 years

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.

BRAY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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 current liabilities.

1.6
Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
47
49
BRAY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023
1,055,605
Additions
47,042
At 30 April 2024
1,102,647
Depreciation and impairment
At 1 May 2023
739,602
Depreciation charged in the year
76,849
At 30 April 2024
816,451
Carrying amount
At 30 April 2024
286,196
At 30 April 2023
316,003
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,018,236
1,017,036
Amounts owed by group undertakings
214,800
35,475
Other debtors
249,853
341,691
1,482,889
1,394,202
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
18,937
Total debtors
1,482,889
1,413,139
BRAY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
419,855
1,072,899
Amounts owed to group undertakings
757,724
677,724
Taxation and social security
75,977
27,397
Other creditors
812,574
216,457
2,066,130
1,994,477
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report was unqualified.

Senior Statutory Auditor:
Nicholas Corden ACA
Statutory Auditor:
Summers Morgan
Date of audit report:
31 January 2025
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
1,375,000
3,293,360

The landlord, who is also the beneficial owner of Bray Solutions Ltd, took the decision to reduce the rent chargeable to Bray Solutions until such time as the company returns to profitability.

8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Management fees receivable
Rent and similar charges payable
2024
2023
2024
2023
£
£
£
£
Entities over which the directors have control and a significant influence
240,000
360,000
352,071
907,040
BRAY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
8
Related party transactions
(Continued)
- 6 -

Warehouse units are leased by the company from the beneficial owner and these units are currently rented at a significant discount to market value.

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
757,724
677,724
Entities over which the directors have control and a significant influence
30,000
59,579

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities over which the directors have control and a significant influence
214,800
35,475
Entities over which the entity has control, joint control or significant influence
13,500
-
9
Directors' transactions

At the balance sheet date the company owed £363,867 (2023: £30,000) to the directors of the company.

10
Parent company

The parent company is M & R Bowman Limited and the ultimate controlling party is the director, Mr R V Mawhood.

2024-04-302023-05-01falsefalsefalse31 January 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr Ian SharpeR V MawhoodP Ashton-Jones074078112023-05-012024-04-30074078112024-04-30074078112023-04-3007407811core:OtherPropertyPlantEquipment2024-04-3007407811core:OtherPropertyPlantEquipment2023-04-3007407811core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3007407811core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3007407811core:CurrentFinancialInstruments2024-04-3007407811core:CurrentFinancialInstruments2023-04-3007407811core:ShareCapital2024-04-3007407811core:ShareCapital2023-04-3007407811core:RetainedEarningsAccumulatedLosses2024-04-3007407811core:RetainedEarningsAccumulatedLosses2023-04-3007407811bus:Director22023-05-012024-04-3007407811core:PlantMachinery2023-05-012024-04-3007407811core:FurnitureFittings2023-05-012024-04-3007407811core:MotorVehicles2023-05-012024-04-30074078112022-05-012023-04-3007407811core:OtherPropertyPlantEquipment2023-04-3007407811core:OtherPropertyPlantEquipment2023-05-012024-04-3007407811core:WithinOneYear2024-04-3007407811core:WithinOneYear2023-04-3007407811core:AfterOneYear2024-04-3007407811core:AfterOneYear2023-04-3007407811core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2024-04-3007407811bus:PrivateLimitedCompanyLtd2023-05-012024-04-3007407811bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3007407811bus:FRS1022023-05-012024-04-3007407811bus:Audited2023-05-012024-04-3007407811bus:Director12023-05-012024-04-3007407811bus:Director32023-05-012024-04-3007407811bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP