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REGISTERED NUMBER: 12969553 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

BRADLEY MCLAREN HOLDINGS LIMITED

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


BRADLEY MCLAREN HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: D C Bradley
Mrs D C Bradley





REGISTERED OFFICE: 35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB





REGISTERED NUMBER: 12969553 (England and Wales)





AUDITORS: Hollis and Co Limited
Chartered Accountants
Statutory Auditor
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The strategic report for the group is included in the group financial statements,
These financial statements are prepared for tax purposes only.

ON BEHALF OF THE BOARD:





D C Bradley - Director


6 February 2025

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

DIVIDENDS
Interim dividends per share were paid as follows:
A ordinary £1 shares £13.21 - 31 August 2024
B ordinary £1 shares £500 - 31 August 2024


The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 August 2024 will be £ 45,800 .

Waivers of dividends of £660 were received on the A Ordinary shares.
Waivers of dividends of £49,500 were received on the B Ordinary shares.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

D C Bradley
Mrs D C Bradley

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


AUDITORS
The auditors, Hollis and Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D C Bradley - Director


6 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRADLEY MCLAREN HOLDINGS LIMITED

Opinion
We have audited the financial statements of Bradley McLaren Holdings Limited (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRADLEY MCLAREN HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Enquiry of management, those charged with governance and the entity's in-house legal team around actual and potential litigation and claims;
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
- Reviewing minutes of meetings of those charged with governance;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the further that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRADLEY MCLAREN HOLDINGS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Peter Hollis (Senior Statutory Auditor)
for and on behalf of Hollis and Co Limited
Chartered Accountants
Statutory Auditor
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB

6 February 2025

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 291,000 267,780

Administrative expenses 295,099 223,316
OPERATING (LOSS)/PROFIT 4 (4,099 ) 44,464

Income from shares in group undertakings 2,578,342 800,000
2,574,243 844,464

Interest payable and similar expenses 5 546,824 457,659
PROFIT BEFORE TAXATION 2,027,419 386,805

Tax on profit 6 (133,898 ) (87,407 )
PROFIT FOR THE FINANCIAL YEAR 2,161,317 474,212

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 2,161,317 474,212


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,161,317

474,212

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 91,031 109,173
Investments 9 10,264,127 10,264,127
10,355,158 10,373,300

CURRENT ASSETS
Debtors 10 26,933 35,311
Cash at bank 934 1,347
27,867 36,658
CREDITORS
Amounts falling due within one year 11 5,274,291 6,362,506
NET CURRENT LIABILITIES (5,246,424 ) (6,325,848 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,108,734

4,047,452

CREDITORS
Amounts falling due after more than one
year

12

(2,102,550

)

(3,154,626

)

PROVISIONS FOR LIABILITIES 16 (430 ) (2,589 )
NET ASSETS 3,005,754 890,237

CAPITAL AND RESERVES
Called up share capital 17 1,000 1,000
Share premium 18 9,850 9,850
Retained earnings 18 2,994,904 879,387
SHAREHOLDERS' FUNDS 3,005,754 890,237

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:





D C Bradley - Director


BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 September 2022 1,000 505,175 9,850 516,025

Changes in equity
Dividends - (100,000 ) - (100,000 )
Total comprehensive income - 474,212 - 474,212
Balance at 31 August 2023 1,000 879,387 9,850 890,237

Changes in equity
Dividends - (45,800 ) - (45,800 )
Total comprehensive income - 2,161,317 - 2,161,317
Balance at 31 August 2024 1,000 2,994,904 9,850 3,005,754

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 51,381 1,528,613
Interest paid (560,900 ) (470,193 )
Interest element of hire purchase payments
paid

(5,093

)

(3,318

)
Net cash from operating activities (514,612 ) 1,055,102

Cash flows from investing activities
Purchase of tangible fixed assets (93,250 ) (73,289 )
Purchase of fixed asset investments (50,000 ) (2,081,835 )
Sale of tangible fixed assets 83,150 -
Dividends received 2,578,342 800,000
Net cash from investing activities 2,518,242 (1,355,124 )

Cash flows from financing activities
New loans in year - 2,650,000
Loan repayments in year (620,907 ) (862,076 )
New HP Contracts in year 54,745 58,020
Capital repayments in year (89,301 ) (10,828 )
Amount withdrawn by directors (55,312 ) (6,439 )
Loan Notes issued / (repaid) (350,000 ) (1,450,000 )
Equity dividends paid (36,000 ) (82,000 )
Decrease in intercompany balances (907,268 ) -
Net cash from financing activities (2,004,043 ) 296,677

Decrease in cash and cash equivalents (413 ) (3,345 )
Cash and cash equivalents at beginning of
year

2

1,347

4,692

Cash and cash equivalents at end of year 2 934 1,347

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 2,027,419 386,805
Depreciation charges 21,631 18,126
Loss on disposal of fixed assets 6,611 -
Finance costs 546,824 457,659
Finance income (2,578,342 ) (800,000 )
24,143 62,590
Decrease/(increase) in trade and other debtors 8,378 (34,835 )
Increase in trade and other creditors 18,860 1,500,858
Cash generated from operations 51,381 1,528,613

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31/8/24 1/9/23
£    £   
Cash and cash equivalents 934 1,347
Year ended 31 August 2023
31/8/23 1/9/22
£    £   
Cash and cash equivalents 1,347 4,692


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/9/23 Cash flow At 31/8/24
£    £    £   
Net cash
Cash at bank 1,347 (413 ) 934
1,347 (413 ) 934
Debt
Finance leases (86,604 ) 34,556 (52,048 )
Debts falling due within 1 year (671,022 ) (77,958 ) (748,980 )
Debts falling due after 1 year (3,116,402 ) 1,048,865 (2,067,537 )
(3,874,028 ) 1,005,463 (2,868,565 )
Total (3,872,681 ) 1,005,050 (2,867,631 )

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Bradley McLaren Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Bradley McLaren Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Bradley Mclaren Holdings Limited, .

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In preparing these financial statements the group's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported in the Income statement for the year,

The nature of estimates means the actual outcome could differ and the group's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 165,718 104,346
Social security costs 22,162 12,339
Other pension costs 21,075 16,500
208,955 133,185

The average number of employees during the year was as follows:
2024 2023

Directors 2 2

2024 2023
£    £   
Directors' remuneration 178,797 109,777
Directors' pension contributions to money purchase schemes 21,075 16,500

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024 2023
£    £   
Depreciation - assets on hire purchase contracts 21,631 18,126
Loss on disposal of fixed assets 6,611 -
Auditors' remuneration 8,060 7,195

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 151,133 100,179
Loan notes 2021 interest 61,540 113,596
Subsidiary loan interest 329,058 240,566
Hire purchase 5,093 3,318
546,824 457,659

6. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
Group relief (131,739 ) (88,299 )

Deferred tax (2,159 ) 892
Tax on profit (133,898 ) (87,407 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,027,419 386,805
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21.500%)

506,855

83,163

Effects of:
Expenses not deductible for tax purposes 3,832 1,304
Income not taxable for tax purposes (644,585 ) (172,000 )
Difference in deferred tax rate - 126
Total tax credit (133,898 ) (87,407 )

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. DIVIDENDS
2024 2023
£    £   
A ordinary shares of £1 each
Interim 10,300 64,000
B ordinary shares of £1 each
Interim 35,500 36,000
45,800 100,000

8. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 September 2023 141,434
Additions 93,250
Disposals (141,434 )
At 31 August 2024 93,250
DEPRECIATION
At 1 September 2023 32,261
Charge for year 21,631
Eliminated on disposal (51,673 )
At 31 August 2024 2,219
NET BOOK VALUE
At 31 August 2024 91,031
At 31 August 2023 109,173

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 141,434
Additions 93,250
Disposals (141,434 )
At 31 August 2024 93,250
DEPRECIATION
At 1 September 2023 32,261
Charge for year 21,631
Eliminated on disposal (51,673 )
At 31 August 2024 2,219
NET BOOK VALUE
At 31 August 2024 91,031
At 31 August 2023 109,173

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 10,264,127
NET BOOK VALUE
At 31 August 2024 10,264,127
At 31 August 2023 10,264,127

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Masteel (UK) Limited
Registered office: 6 Three Spires House, Station Road, Lichfield WS13 6HX
Nature of business: Steel stockholders and traders
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 6,834,180 6,054,191
Profit for the year 1,479,989 1,612,311

Masteel B.V.
Registered office: Boomsesteenweg 77C, 2630 Aartselaar, Belgium
Nature of business: Steel stockholders and traders
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 933,103 638,074
Profit for the year 295,029 306,705

D.S. Willetts (Stainless) Limited
Registered office: Murdoch Road, Bilston, West Midlands WV14 7HG
Nature of business: Dormant company.
%
Class of shares: holding
Ordinary 100.00
2024 31/8/23
£    £   
Aggregate capital and reserves 50,000 1,928,342
Profit for the year/period - 842,657

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 26,933 35,311

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 698,980 621,022
Other loans (see note 13) 50,000 50,000
Hire purchase contracts (see note 14) 17,035 48,380
Trade creditors 13,550 -
Amounts owed to group undertakings 4,359,926 5,398,933
Social security and other taxes 5,353 5,146
VAT 7,433 7,488
Other creditors 45,800 86,000
Directors' current accounts 3,599 58,911
Accruals and deferred income 72,615 86,626
5,274,291 6,362,506

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 13) 1,127,537 1,826,402
Other loans (see note 13) 940,000 1,290,000
Hire purchase contracts (see note 14) 35,013 38,224
2,102,550 3,154,626

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 698,980 621,022
Other loans 50,000 50,000
748,980 671,022

Amounts falling due between one and two years:
Bank loans - 1-2 years 647,468 1,345,480
Loan notes 2021 - 1 to 2 years 940,000 50,000
1,587,468 1,395,480

Amounts falling due between two and five years:
Bank loans - 2-5 years 480,069 480,922
Loan notes 2021 - 2 to 5 years - 1,240,000
480,069 1,720,922

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 20,493 51,982
Between one and five years 37,571 41,683
58,064 93,665

Finance charges repayable:
Within one year 3,458 3,602
Between one and five years 2,558 3,459
6,016 7,061

Net obligations repayable:
Within one year 17,035 48,380
Between one and five years 35,013 38,224
52,048 86,604

15. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,826,517 2,447,424
Hire purchase contracts 52,048 86,604
1,878,565 2,534,028

Hire purchase liabilities are secured by a charge on the asset concerned.
Bank borrowings are secured by debentures over the company's assets.

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 430 2,589

Deferred
tax
£   
Balance at 1 September 2023 2,589
Provided during year (2,159 )
Balance at 31 August 2024 430

BRADLEY MCLAREN HOLDINGS LIMITED (REGISTERED NUMBER: 12969553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
830 A ordinary £1 830 830
170 B ordinary £1 170 170
1,000 1,000

The A ordinary and B ordinary shares rank pari passu in all respects apart from dividend rights. Dividends can be declared in such amounts and proportions as between the different classes of shares as the directors think fit.

18. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 September 2023 879,387 9,850 889,237
Profit for the year 2,161,317 2,161,317
Dividends (45,800 ) (45,800 )
At 31 August 2024 2,994,904 9,850 3,004,754

19. RELATED PARTY DISCLOSURES

The key management personnel of the company are considered to be the directors of the company. Their total remuneration is disclosed in note 3.

20. ULTIMATE CONTROLLING PARTY

The controlling party is D C Bradley.

The ultimate controlling party is D C Bradley.