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Registered number: 11530765
Braeside Industries Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Grenfell James Associates Limited
13 The Courtyard
Timothy's Bridge Road
Stratford-upon-Avon
Warwickshire
CV37 9NP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11530765
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 96,595 44,639
96,595 44,639
CURRENT ASSETS
Stocks 6 18,262 24,839
Debtors 7 1,728 7,736
Cash at bank and in hand 12,191 10,668
32,181 43,243
Creditors: Amounts Falling Due Within One Year 8 (143,649 ) (90,142 )
NET CURRENT ASSETS (LIABILITIES) (111,468 ) (46,899 )
TOTAL ASSETS LESS CURRENT LIABILITIES (14,873 ) (2,260 )
NET LIABILITIES (14,873 ) (2,260 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (14,973 ) (2,360 )
SHAREHOLDERS' FUNDS (14,873) (2,260)
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J P Kerslake
Director
20/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Braeside Industries Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11530765 . The registered office is 13 The Courtyard Timothys Bridge Road, Stratford Upon Avon, Warwickshire, CV37 9NP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is amortised evenly over its estimated economic life of four years.  It was amortised in full by 31 August 2022.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvements to property No depreciation
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 10,000
As at 31 August 2024 10,000
Amortisation
As at 1 September 2023 10,000
As at 31 August 2024 10,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Land & Property
Improvements to property Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 - 6,528 40,083 1,884 48,495
Additions 31,743 37,314 - 599 69,656
As at 31 August 2024 31,743 43,842 40,083 2,483 118,151
Depreciation
As at 1 September 2023 - 903 2,505 448 3,856
Provided during the period - 7,821 9,395 484 17,700
As at 31 August 2024 - 8,724 11,900 932 21,556
Net Book Value
As at 31 August 2024 31,743 35,118 28,183 1,551 96,595
As at 1 September 2023 - 5,625 37,578 1,436 44,639
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6. Stocks
2024 2023
£ £
Stock 18,262 24,839
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,728 7,736
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,598 27,268
Other creditors 132,051 62,874
143,649 90,142
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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