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REGISTERED NUMBER: 11667738 (England and Wales)















BRADY BAGS LTD

Unaudited Financial Statements for the Year Ended 30 June 2024






BRADY BAGS LTD (REGISTERED NUMBER: 11667738)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BRADY BAGS LTD

Company Information
for the Year Ended 30 June 2024







DIRECTORS: T Mori
K Morita
P Wilkes





REGISTERED OFFICE: Unit 32
Enterprise Drive
Streetly
Sutton Coldfield
West Midlands
B74 2DY





REGISTERED NUMBER: 11667738 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

BRADY BAGS LTD (REGISTERED NUMBER: 11667738)

Abridged Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,633,855 1,992,990
Tangible assets 5 30,995 40,718
1,664,850 2,033,708

CURRENT ASSETS
Stocks 736,628 760,079
Debtors 59,837 174,671
Cash at bank 211,665 78,723
1,008,130 1,013,473
CREDITORS
Amounts falling due within one year 483,402 727,226
NET CURRENT ASSETS 524,728 286,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,189,578

2,319,955

CAPITAL AND RESERVES
Called up share capital 4,000,001 4,000,001
Retained earnings (1,810,423 ) (1,680,046 )
2,189,578 2,319,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

BRADY BAGS LTD (REGISTERED NUMBER: 11667738)

Abridged Balance Sheet - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 March 2025 and were signed on its behalf by:





T Mori - Director


BRADY BAGS LTD (REGISTERED NUMBER: 11667738)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Brady Bags 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance 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.

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.

BRADY BAGS LTD (REGISTERED NUMBER: 11667738)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 40 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 3,591,372
AMORTISATION
At 1 July 2023 1,598,382
Amortisation for year 359,135
At 30 June 2024 1,957,517
NET BOOK VALUE

At 30 June 2024 1,633,855
At 30 June 2023 1,992,990

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 131,613
Additions 733
At 30 June 2024 132,346
DEPRECIATION
At 1 July 2023 90,895
Charge for year 10,456
At 30 June 2024 101,351
NET BOOK VALUE
At 30 June 2024 30,995
At 30 June 2023 40,718