Company registration number 01355999 (England and Wales)
BRAVILOR LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BRAVILOR LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BRAVILOR LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,198,432
2,252,697
Current assets
Stocks
1,046,358
1,027,884
Debtors
5
1,162,283
1,456,319
Cash at bank and in hand
437,727
545,656
2,646,368
3,029,859
Creditors: amounts falling due within one year
6
(736,262)
(1,384,555)
Net current assets
1,910,106
1,645,304
Total assets less current liabilities
4,108,538
3,898,001
Provisions for liabilities
7
(78,712)
(80,689)
Net assets
4,029,826
3,817,312
Capital and reserves
Called up share capital
20,100
20,100
Profit and loss reserves
4,009,726
3,797,212
Total equity
4,029,826
3,817,312
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 13 March 2025 and are signed on its behalf by:
J. C. Peereboom
Director
Company registration number 01355999 (England and Wales)
BRAVILOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Bravilor Limited is a private company limited by shares incorporated in England and Wales. The registered office is Oaklands Park, Wokingham, Berkshire, RG41 2FD.
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
The company relies on the continued support of its intermediate parent company, Bravilor Holdings BV, a company registered in The Netherlands, to enable it to continue to operate within its working capital facilities. The parent company has provided continued support in respect of an inter-company loantrue and has provided written agreement that it will continue to support the company for a period not less than twelve months from signing the financial statements.
Taking these factors into consideration, the directors believe the business will have sufficient resources available in order to meet its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. Consequently, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future and for this reason they continue to adopt the going concern basis for preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and 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 the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods).
Revenue from the sale of maintenance contracts is recognised at the point of sale as at this point all of the risks and rewards are transferred to the maintenance companies.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is provided to write off the cost, less estimated residual values, of all fixed assets over their expected useful lives. It is calculated at the following rates:
Freehold land and buildings
30 years for buildings
Plant and machinery
25% reducing balance basis
Fixtures, fittings & equipment
25% reducing balance basis
Motor vehicles
20% reducing balance basis
BRAVILOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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.
1.5
Stocks
Stocks are stated at the lower of cost and net book value with cost comprising direct materials.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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.
BRAVILOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
The company contributes to a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account in the year in which they become payable.
1.10
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Stock provision
A provision for slow moving or obsolete stock is included in line with group policy and is based upon knowledge of the products and expected future sales.
BRAVILOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 17 (2023 - 16).
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
2,728,489
300,228
3,028,717
Additions
15,093
15,093
Disposals
(664)
(664)
At 31 December 2024
2,728,489
314,657
3,043,146
Depreciation and impairment
At 1 January 2024
509,756
266,264
776,020
Depreciation charged in the year
57,066
12,264
69,330
Eliminated in respect of disposals
(636)
(636)
At 31 December 2024
566,822
277,892
844,714
Carrying amount
At 31 December 2024
2,161,667
36,765
2,198,432
At 31 December 2023
2,218,733
33,964
2,252,697
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
954,577
1,388,147
Amounts owed by group undertakings
165,041
Other debtors
42,665
68,172
1,162,283
1,456,319
BRAVILOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
194,685
294,363
Amounts owed to group undertakings
326,945
Corporation tax
57,614
57,560
Other taxation and social security
342,118
456,553
Other creditors
141,845
249,134
736,262
1,384,555
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
78,712
80,689
8
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 is unqualified and includes the following:
The senior statutory auditor was Carolyn Robson.
The auditor was Rouse Audit LLP.
9
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
£
£
49,158
49,264
11
Parent company
The company's ultimate parent company is VHH Participaties B.V., a company registered in The Netherlands at Pascalstraat 20 in Heerhugowaard. The smallest and largest group in which these accounts are consolidated is that headed up by VHH Participaties B.V.