Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29truefalse2023-08-01No description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12768117 2023-08-01 2024-02-29 12768117 2022-08-01 2023-07-31 12768117 2024-02-29 12768117 2023-07-31 12768117 c:Director1 2023-08-01 2024-02-29 12768117 c:Director4 2023-08-01 2024-02-29 12768117 d:PlantMachinery 2023-08-01 2024-02-29 12768117 d:PlantMachinery 2024-02-29 12768117 d:PlantMachinery 2023-07-31 12768117 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-02-29 12768117 d:ComputerEquipment 2023-08-01 2024-02-29 12768117 d:ComputerEquipment 2024-02-29 12768117 d:ComputerEquipment 2023-07-31 12768117 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-02-29 12768117 d:OwnedOrFreeholdAssets 2023-08-01 2024-02-29 12768117 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 12768117 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 12768117 d:CurrentFinancialInstruments 2024-02-29 12768117 d:CurrentFinancialInstruments 2023-07-31 12768117 d:Non-currentFinancialInstruments 2024-02-29 12768117 d:Non-currentFinancialInstruments 2023-07-31 12768117 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12768117 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12768117 d:ShareCapital 2024-02-29 12768117 d:ShareCapital 2023-07-31 12768117 d:SharePremium 2024-02-29 12768117 d:SharePremium 2023-07-31 12768117 d:RetainedEarningsAccumulatedLosses 2024-02-29 12768117 d:RetainedEarningsAccumulatedLosses 2023-07-31 12768117 c:FRS102 2023-08-01 2024-02-29 12768117 c:AuditExemptWithAccountantsReport 2023-08-01 2024-02-29 12768117 c:FullAccounts 2023-08-01 2024-02-29 12768117 c:PrivateLimitedCompanyLtd 2023-08-01 2024-02-29 12768117 d:Subsidiary1 2023-08-01 2024-02-29 12768117 d:Subsidiary1 1 2023-08-01 2024-02-29 12768117 d:Subsidiary3 2023-08-01 2024-02-29 12768117 d:Subsidiary3 1 2023-08-01 2024-02-29 12768117 d:Subsidiary5 2023-08-01 2024-02-29 12768117 d:Subsidiary5 1 2023-08-01 2024-02-29 12768117 d:Subsidiary6 2023-08-01 2024-02-29 12768117 d:Subsidiary6 1 2023-08-01 2024-02-29 12768117 d:Subsidiary7 2023-08-01 2024-02-29 12768117 d:Subsidiary7 1 2023-08-01 2024-02-29 12768117 d:Subsidiary8 2023-08-01 2024-02-29 12768117 d:Subsidiary8 1 2023-08-01 2024-02-29 12768117 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-08-01 2024-02-29 12768117 2 2023-08-01 2024-02-29 12768117 6 2023-08-01 2024-02-29 12768117 e:PoundSterling 2023-08-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 12768117










BREATHABLOK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 FEBRUARY 2024

 
BREATHABLOK LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 10


 
BREATHABLOK LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BREATHABLOK LIMITED
FOR THE PERIOD ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Breathablok Limited for the period ended 29 February 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Breathablok Limited, as a body, in accordance with the terms of our engagement letter dated 6 August 2020Our work has been undertaken solely to prepare for your approval the financial statements of Breathablok Limited  and state those matters that we have agreed to state to the Board of directors of Breathablok Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Breathablok Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Breathablok Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Breathablok Limited. You consider that Breathablok Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Breathablok Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  


BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
4 February 2025
Page 1

 
BREATHABLOK LIMITED
REGISTERED NUMBER: 12768117

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
29 February
31 July
31 July
2024
2024
2023
2023
Note
£
£
£
£

FIXED ASSETS
  

Intangible assets
 4 
2,095,678
1,916,132

Tangible assets
 5 
142,583
156,833

Investments
 6 
1,715,816
1,501,314

  
3,954,077
3,574,279

CURRENT ASSETS
  

Stocks
  
26,979
26,979

Debtors: amounts falling due after more than one year
 8 
320,312
130,538

Debtors: amounts falling due within one year
 8 
151,255
180,991

Cash at bank and in hand
 9 
1,527,767
757,930

  
2,026,313
1,096,438

Creditors: amounts falling due within one year
 10 
(101,473)
(30,319)

NET CURRENT ASSETS
  
 
 
1,924,840
 
 
1,066,119

  

NET ASSETS
  
5,878,917
4,640,398


CAPITAL AND RESERVES
  

Called up share capital 
  
1,590
1,320

Share premium account
  
6,276,990
4,834,439

Profit and loss account
  
(399,663)
(195,361)

  
5,878,917
4,640,398


Page 2

 
BREATHABLOK LIMITED
REGISTERED NUMBER: 12768117

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 period 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 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 on 4 February 2025.




A. I. SPRAGUE
R. M. BERELOWITZ
Director
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
BREATHABLOK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES

 
1.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

The following principal accounting policies have been applied:

 
1.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
BREATHABLOK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.3

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.

  
1.4

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 the following specific criteria are met:
• an asset is created that can be identified (such as software and new processes);
• the project from which the asset arises meets the company's criteria for assessing technical feasibility; 
• it is probable that the asset created will generate future economic benefits; and
• the development cost of the asset can be measured reliably.
The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives. At the period ended 31 July 2023, the development phase was ongoing and therefore the asset has not been amortised and the expected life of the project has not been determined.
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.

 
1.5

INTEREST INCOME

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

Page 5

 
BREATHABLOK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.6

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.

 
1.7

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:

Plant and machinery
-
10%
per annum
Computer equipment
-
25%
per annum

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.

 
1.8

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
1.9

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.

 
1.10

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.

Page 6

 
BREATHABLOK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.11

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.

 
1.12

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.

 
1.13

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 4 (2023 - 4).

Page 7

 
BREATHABLOK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

4.


INTANGIBLE ASSETS






Development expenditure

£



COST


At 1 August 2023
1,916,132


Additions - internal
179,546



At 29 February 2024

2,095,678






NET BOOK VALUE



At 29 February 2024
2,095,678



At 31 July 2023
1,916,132




5.


TANGIBLE FIXED ASSETS







Plant and machinery
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 August 2023
174,728
9,073
183,801


Additions
6,101
-
6,101



At 29 February 2024

180,829
9,073
189,902



DEPRECIATION


At 1 August 2023
22,432
4,536
26,968


Charge for the period on owned assets
18,083
2,268
20,351



At 29 February 2024

40,515
6,804
47,319



NET BOOK VALUE



At 29 February 2024
140,314
2,269
142,583



At 31 July 2023
152,297
4,536
156,833

Page 8

 
BREATHABLOK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

6.


INVESTMENTS








UK subsidiary companies
Overseas subsidiary companies
Total

£
£
£



COST OR VALUATION


At 1 August 2023
1
1,501,313
1,501,314


Additions
-
214,502
214,502



At 29 February 2024
1
1,715,815
1,715,816





SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Alas AS
Sanden 1, 3256 Larvik, Norway
Distribution of Interlock devices in Norway
Ordinary shares
100%
Breatech Electronics (Pty) Ltd
Unit 3 FWJK Court, 86 Armstrong Avenue, La Lucia, South Africa, 4021
Development, manufacture and support of Interlock devices
Ordinary shares
100%
Breatech SA (Pty) Ltd
Equity Park Block A, 257 Brooklyn Road, Brooklyn, South Africa, 0181
Administration company
Ordinary shares
100%
Breatech Limited
2nd Floor, Lyttelton House, 2 Lyttelton Road, London, England, N2 0EF
Dormant company
Ordinary shares
100%
Autowatch
98 Station Road, Sidcup, Kent, United Kingdom, DA15 7BY
Distributor of automative security products
Ordinary shares
47%
Pemtech
98 Station Road, Sidcup, Kent, United Kingdom, DA15 7BY
Investment company holding 3% of Autowatch shares
Ordinary shares
100%


7.


STOCKS

29 February
31 July
2024
2023
£
£

Stock
26,979
26,979


Page 9

 
BREATHABLOK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

8.


DEBTORS

29 February
31 July
2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Amounts owed by group undertakings
283,592
130,538

Prepayments and accrued income
36,720
-

320,312
130,538


29 February
31 July
2024
2023
£
£

DUE WITHIN ONE YEAR

Other debtors
11,901
11,712

Prepayments and accrued income
107,687
129,279

Corporation tax -  R&D tax credit
31,667
40,000

151,255
180,991



9.


CASH AND CASH EQUIVALENTS

29 February
31 July
2024
2023
£
£

Cash at bank and in hand
1,527,767
757,930



10.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29 February
31 July
2024
2023
£
£

Trade creditors
-
27,294

Other creditors
96,324
-

Accruals and deferred income
5,149
3,025

101,473
30,319



Page 10