Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31false2023-09-0185No description of principal activity84truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00858354 2023-09-01 2024-08-31 00858354 2022-09-01 2023-08-31 00858354 2024-08-31 00858354 2023-08-31 00858354 c:Director7 2023-09-01 2024-08-31 00858354 d:Buildings 2023-09-01 2024-08-31 00858354 d:Buildings 2024-08-31 00858354 d:Buildings 2023-08-31 00858354 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 00858354 d:Buildings d:LongLeaseholdAssets 2023-09-01 2024-08-31 00858354 d:Buildings d:LongLeaseholdAssets 2024-08-31 00858354 d:Buildings d:LongLeaseholdAssets 2023-08-31 00858354 d:MotorVehicles 2023-09-01 2024-08-31 00858354 d:MotorVehicles 2024-08-31 00858354 d:MotorVehicles 2023-08-31 00858354 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 00858354 d:FurnitureFittings 2023-09-01 2024-08-31 00858354 d:FurnitureFittings 2024-08-31 00858354 d:FurnitureFittings 2023-08-31 00858354 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 00858354 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 00858354 d:Goodwill 2024-08-31 00858354 d:Goodwill 2023-08-31 00858354 d:CurrentFinancialInstruments 2024-08-31 00858354 d:CurrentFinancialInstruments 2023-08-31 00858354 d:Non-currentFinancialInstruments 2024-08-31 00858354 d:Non-currentFinancialInstruments 2023-08-31 00858354 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 00858354 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 00858354 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 00858354 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 00858354 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 00858354 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 00858354 d:ShareCapital 2024-08-31 00858354 d:ShareCapital 2023-08-31 00858354 d:SharePremium 2024-08-31 00858354 d:SharePremium 2023-08-31 00858354 d:RevaluationReserve 2024-08-31 00858354 d:RevaluationReserve 2023-08-31 00858354 d:RetainedEarningsAccumulatedLosses 2024-08-31 00858354 d:RetainedEarningsAccumulatedLosses 2023-08-31 00858354 c:FRS102 2023-09-01 2024-08-31 00858354 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 00858354 c:FullAccounts 2023-09-01 2024-08-31 00858354 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2024-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2024-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2023-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:MoreThanFiveYears 2024-08-31 00858354 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:MoreThanFiveYears 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 00858354










BRAISWICK PHOTOGRAPHIC COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
REGISTERED NUMBER: 00858354

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,193,248
1,205,793

  
1,193,248
1,205,793

Current assets
  

Stocks
 6 
132,507
92,824

Debtors: amounts falling due within one year
 7 
248,671
243,873

Cash at bank and in hand
 8 
278,891
510,579

  
660,069
847,276

Creditors: amounts falling due within one year
 9 
(480,256)
(572,526)

Net current assets
  
 
 
179,813
 
 
274,750

Total assets less current liabilities
  
1,373,061
1,480,543

Creditors: amounts falling due after more than one year
 10 
(531,583)
(647,489)

  

Net assets
  
841,478
833,054


Capital and reserves
  

Called up share capital 
  
35,750
35,750

Share premium account
  
1,125
1,125

Revaluation reserve
  
212,359
212,359

Profit and loss account
  
592,244
583,820

  
841,478
833,054


Page 1

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
REGISTERED NUMBER: 00858354
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.


J Carne
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Braiswick Photographic Company Limited is a private company limited by share capital and incorporated in England and Wales with registration number 00858354. The address of registered office is Wesley House, Cattawade, Essex, CO11 1RJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Long-term leasehold property
-
Not depreciated
Motor vehicles
-
25% reducing balances
Fixtures and fittings
-
15%-20% reducing balance and 9 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Freehold and leasehold properties are included in the Balance Sheet at their open market value.
Depreciation is not provided on properties as in the opinion of the directors, the residual values (in terms of original cost) is such that any depreciation charge would be immaterial. The Company’s policy is to maintain its properties to a high standard through a continual programme of refurbishment and maintenance.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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 Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 84 (2023 - 85).

Page 6

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 September 2023
158,867



At 31 August 2024

158,867



Amortisation


At 1 September 2023
158,867



At 31 August 2024

158,867



Net book value



At 31 August 2024
-



At 31 August 2023
-



Page 7

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Freehold property
Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
340,000
390,000
796,699
1,379,485
2,906,184


Additions
-
-
126,937
17,417
144,354


Disposals
-
-
(105,730)
-
(105,730)



At 31 August 2024

340,000
390,000
817,906
1,396,902
2,944,808



Depreciation


At 1 September 2023
-
-
447,791
1,252,600
1,700,391


Charge for the year on owned assets
-
-
112,567
26,264
138,831


Disposals
-
-
(87,662)
-
(87,662)



At 31 August 2024

-
-
472,696
1,278,864
1,751,560



Net book value



At 31 August 2024
340,000
390,000
345,210
118,038
1,193,248



At 31 August 2023
340,000
390,000
348,908
126,885
1,205,793


6.


Stocks

2024
2023
£
£

Raw materials and consumables
130,160
89,387

Work in progress
2,347
3,437

132,507
92,824


Page 8

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Debtors

2024
2023
£
£


Trade debtors
9,401
12,704

Amounts owed by group undertakings
483
483

Other debtors
224,661
211,322

Deferred taxation
14,126
19,364

248,671
243,873



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
278,891
510,579

278,891
510,579



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
173,448
193,675

Trade creditors
120,418
95,990

Corporation tax
18,608
23,577

Other taxation and social security
35,675
48,587

Obligations under finance lease and hire purchase contracts
104,115
86,273

Other creditors
27,992
124,424

480,256
572,526


The bank loans of £88,854 (2023: £89,900) are secured by a fixed and floating charge over all current and future assets of the Company. There are charges on the Company's freehold and leasehold properties.
Hire purchase creditors are secured on the assets to which they relate.

Page 9

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
397,372
498,402

Net obligations under finance leases and hire purchase contracts
134,211
149,087

531,583
647,489


Secured loans
The bank loans of £364,038 (2023: £374,678) are secured by a fixed and floating charge over all current and future assets of the Company. There are charges on the Company's freehold and leasehold properties.

Hire purchase creditors are secured on the assets to which they relate.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
173,448
193,675


Amounts falling due 2-5 years

Bank loans
397,372
498,402


570,820
692,077



12.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £36,620 (2023: £34,197). Contributions totaling £7,724 (2023: Nil) were payable to the fund at the balance sheet date.

Page 10

 
BRAISWICK PHOTOGRAPHIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

13.


Commitments under operating leases

At 31 August 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


2024
2023

£
£


Not later than 1 year
20,000
20,000

Later than 1 year and not later than 5 years
80,000
80,000

Later than 5 years
360,000
380,000

460,000
480,000


14.


Related party transactions

During the year the directors received rent from the company of £20,833 (2023: £20,000).
 

 
Page 11