Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31false2023-04-01No description of principal activity1416truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09465047 2023-04-01 2024-03-31 09465047 2022-04-01 2023-03-31 09465047 2024-03-31 09465047 2023-03-31 09465047 c:Director3 2023-04-01 2024-03-31 09465047 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 09465047 d:Buildings d:LongLeaseholdAssets 2024-03-31 09465047 d:Buildings d:LongLeaseholdAssets 2023-03-31 09465047 d:OfficeEquipment 2023-04-01 2024-03-31 09465047 d:OfficeEquipment 2024-03-31 09465047 d:OfficeEquipment 2023-03-31 09465047 d:CurrentFinancialInstruments 2024-03-31 09465047 d:CurrentFinancialInstruments 2023-03-31 09465047 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09465047 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09465047 d:ShareCapital 2024-03-31 09465047 d:ShareCapital 2023-03-31 09465047 d:RetainedEarningsAccumulatedLosses 2024-03-31 09465047 d:RetainedEarningsAccumulatedLosses 2023-03-31 09465047 c:FRS102 2023-04-01 2024-03-31 09465047 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09465047 c:FullAccounts 2023-04-01 2024-03-31 09465047 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09465047 2 2023-04-01 2024-03-31 09465047 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 09465047









BROWNS BRIDE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BROWNS BRIDE LIMITED
REGISTERED NUMBER: 09465047

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 5 
788,746
672,269

Debtors: amounts falling due within one year
 6 
943,584
1,011,560

Cash at bank and in hand
 7 
422,704
423,547

  
2,155,034
2,107,376

Creditors: amounts falling due within one year
 8 
(2,980,482)
(2,966,460)

Net current liabilities
  
 
 
(825,448)
 
 
(859,084)

Total assets less current liabilities
  
(825,448)
(859,084)

  

Net liabilities
  
(825,448)
(859,084)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(825,449)
(859,085)

  
(825,448)
(859,084)


Page 1

 
BROWNS BRIDE LIMITED
REGISTERED NUMBER: 09465047
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 statement of comprehensive income 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 by: 




C Hammond
Director

Date: 28 March 2025

Page 2

 
BROWNS BRIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Browns Bride Limited is a private company limited by shares and incorporated in England (registered number: 09465047). 
The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH, and the principal place of business address is 12 Hinde Street, Marylebone, London, W1U 3BE.
The principal activity of the company during the year was the sale of bridalwear.
The financial statements are presented in Sterling, which is the functional currency of the company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholder for financial support, which the directors are confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 31 March 2024, the company had net liabilities of £825,448. The company relies on the support of its parent company in order to meet its medium term capital requirements. The directors and shareholder have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholder.

Page 3

 
BROWNS BRIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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.

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
15%
Office equipment
-
25%

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.

 
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 reporting 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

 
BROWNS BRIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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

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.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 5

 
BROWNS BRIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
BROWNS BRIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

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 reporting 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 reporting 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 reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 16).

Page 7

 
BROWNS BRIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Long-term leasehold property
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
63,316
163,953
227,269



At 31 March 2024

63,316
163,953
227,269



Depreciation


At 1 April 2023
63,316
163,953
227,269



At 31 March 2024

63,316
163,953
227,269



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
-
-
-




The net book value of land and buildings may be further analysed as follows:





Page 8

 
BROWNS BRIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
788,746
672,269

788,746
672,269



6.


Debtors

2024
2023
£
£


Trade debtors
857,221
873,411

Other debtors
39,027
87,130

Prepayments and accrued income
44,479
47,535

Deferred taxation
2,857
3,484

943,584
1,011,560



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
422,704
423,547

422,704
423,547



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
107,249
313,681

Amounts owed to group undertakings
2,664,612
2,393,669

Corporation tax
13,625
1,859

Other taxation and social security
6,688
52,873

Other creditors
3,486
27,431

Accruals and deferred income
184,822
176,947

2,980,482
2,966,460


 
Page 9