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Registration number: 11419441

Brechfau Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Brechfau Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Brechfau Holdings Limited

Company Information

Director

Mr I Howell

Registered office

Upton Hall
Nantgaredig
Carmarthen
SA32 7PJ

 

Brechfau Holdings Limited

(Registration number: 11419441)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

100,957

114,904

Current assets

 

Stocks

6

-

3,200

Debtors

7

5,095

4,661

Cash at bank and in hand

 

1,174

6,037

 

6,269

13,898

Creditors: Amounts falling due within one year

8

(84,625)

(19,859)

Net current liabilities

 

(78,356)

(5,961)

Total assets less current liabilities

 

22,601

108,943

Creditors: Amounts falling due after more than one year

8

(41,108)

(72,560)

Provisions for liabilities

(9,656)

(12,306)

Net (liabilities)/assets

 

(28,163)

24,077

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

(28,173)

24,067

Total equity

 

(28,163)

24,077

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Brechfau Holdings Limited

(Registration number: 11419441)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 18 March 2025
 

.........................................
Mr I Howell
Director

   
     
 

Brechfau Holdings Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Upton Hall
Nantgaredig
Carmarthen
SA32 7PJ

These financial statements were authorised for issue by the director on 18 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

Brechfau Holdings Limited

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

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Properties

Nil

Plant and machinery

20% straight line

Fixtures and fittings

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Brechfau Holdings Limited

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

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Brechfau Holdings Limited

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

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

13,947

4,060

5

Tangible assets

Properties
 £

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

50,134

1,146

69,355

120,635

At 30 June 2024

50,134

1,146

69,355

120,635

Depreciation

At 1 July 2023

-

1,055

4,676

5,731

Charge for the year

-

76

13,871

13,947

At 30 June 2024

-

1,131

18,547

19,678

Carrying amount

At 30 June 2024

50,134

15

50,808

100,957

At 30 June 2023

50,134

91

64,679

114,904

6

Stocks

2024
£

2023
£

Other inventories

-

3,200

7

Debtors

2024
£

2023
£

Trade debtors

3,611

1,715

Prepayments

1,484

802

Other debtors

-

2,144

5,095

4,661

 

Brechfau Holdings Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

24,785

2,500

Trade creditors

 

2,548

10,804

Taxation and social security

 

14,199

-

Other related parties

11

34,617

5,715

Corporation tax liability

 

-

100

Other creditors

 

8,476

740

 

84,625

19,859

Due after one year

 

Loans and borrowings

10

41,108

72,560

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

41,108

72,560

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.01 each

1,000

10.00

1,000

10.00

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

2,292

4,792

HP and finance lease liabilities

38,816

67,768

41,108

72,560

 

Brechfau Holdings Limited

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

2024
£

2023
£

Current loans and borrowings

Bank borrowings

17,083

2,500

HP and finance lease liabilities

7,702

-

24,785

2,500

11

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Other payments made to company by director
£

At 30 June 2024
£

Mr I Howell

Interest free loan repayable on demand

(5,715)

(3,902)

(9,617)

       
     

 

2023

At 1 July 2022
£

Other payments made to company by director
£

At 30 June 2023
£

Mr I Howell

Interest free loan repayable on demand

(4,953)

(762)

(5,715)

       
     

 

Summary of transactions with other related parties

Upton Estates Limited
 Brechfau Holdings Limited and Upton Estates Limited have a director in common.

During the year, rental of property amounting to £45,400 was charged to Brechfau Holdings Limited from Upton Estates Limited.

At the balance sheet date, £25,000 was owed to Upton Estates Limited.