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REGISTERED NUMBER: 05914249 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Brexons Ltd

Brexons Ltd (Registered number: 05914249)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Brexons Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: B P Dixon
G J Breheny
B Breheny





SECRETARY: Mrs V Dixon





REGISTERED OFFICE: 5 Edlington Court
Heapham Road Industrial Estate
Gainsborough
Lincolnshire
DN21 1LT





REGISTERED NUMBER: 05914249 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Brexons Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brexons Ltd for the year ended 31 August 2024 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Brexons Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Brexons Ltd and state those matters that we have agreed to state to the Board of Directors of Brexons Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brexons Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Brexons Ltd 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 profit of Brexons Ltd. You consider that Brexons Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Brexons Ltd. 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


21 February 2025

Brexons Ltd (Registered number: 05914249)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 960,468 408,876

CURRENT ASSETS
Stocks 35,000 30,030
Debtors 5 501,885 441,093
Cash at bank and in hand 82,619 641,112
619,504 1,112,235
CREDITORS
Amounts falling due within one year 6 569,621 569,524
NET CURRENT ASSETS 49,883 542,711
TOTAL ASSETS LESS CURRENT LIABILITIES 1,010,351 951,587

CREDITORS
Amounts falling due after more than one
year

7

(16,667

)

(66,667

)

PROVISIONS FOR LIABILITIES (45,842 ) (48,409 )
NET ASSETS 947,842 836,511

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 947,832 836,501
SHAREHOLDERS' FUNDS 947,842 836,511

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:




B P Dixon - Director


Brexons Ltd (Registered number: 05914249)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Brexons Ltd 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.
Tools and equipment - 15% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost and 2% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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.

Brexons Ltd (Registered number: 05914249)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

The average number of employees during the year was 24 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Tools and and
Buildings equipment fittings
£    £    £   
COST
At 1 September 2023 112,813 204,121 38,562
Additions 611,561 15,594 -
Disposals - - -
At 31 August 2024 724,374 219,715 38,562
DEPRECIATION
At 1 September 2023 - 91,181 21,069
Charge for year - 19,280 5,250
Eliminated on disposal - - -
At 31 August 2024 - 110,461 26,319
NET BOOK VALUE
At 31 August 2024 724,374 109,254 12,243
At 31 August 2023 112,813 112,940 17,493

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 221,585 6,836 583,917
Additions - 1,733 628,888
Disposals (15,000 ) - (15,000 )
At 31 August 2024 206,585 8,569 1,197,805
DEPRECIATION
At 1 September 2023 61,424 1,367 175,041
Charge for year 37,905 1,714 64,149
Eliminated on disposal (1,853 ) - (1,853 )
At 31 August 2024 97,476 3,081 237,337
NET BOOK VALUE
At 31 August 2024 109,109 5,488 960,468
At 31 August 2023 160,161 5,469 408,876

Brexons Ltd (Registered number: 05914249)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 266,944 436,510
Other debtors 234,941 4,583
501,885 441,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 127,256 50,000
Trade creditors 100,004 233,105
Taxation and social security 228,975 241,645
Other creditors 113,386 44,774
569,621 569,524

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 16,667 66,667

8. RELATED PARTY DISCLOSURES

Company directors Ben Dixon and Graeme Breheny are also majority shareholders in Brexons Workwear Ltd. At the year ended 31 August 2024 Brexons Ltd was owed £229,866.03 from Brexons Workwear Ltd.