Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false32024-01-013falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04384012 2024-01-01 2024-12-31 04384012 2023-01-01 2023-12-31 04384012 2024-12-31 04384012 2023-12-31 04384012 c:Director2 2024-01-01 2024-12-31 04384012 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 04384012 d:Buildings d:LongLeaseholdAssets 2024-12-31 04384012 d:Buildings d:LongLeaseholdAssets 2023-12-31 04384012 d:ComputerEquipment 2024-01-01 2024-12-31 04384012 d:ComputerEquipment 2024-12-31 04384012 d:ComputerEquipment 2023-12-31 04384012 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04384012 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04384012 d:CurrentFinancialInstruments 2024-12-31 04384012 d:CurrentFinancialInstruments 2023-12-31 04384012 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04384012 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04384012 d:ShareCapital 2024-12-31 04384012 d:ShareCapital 2023-12-31 04384012 d:SharePremium 2024-12-31 04384012 d:SharePremium 2023-12-31 04384012 d:RetainedEarningsAccumulatedLosses 2024-12-31 04384012 d:RetainedEarningsAccumulatedLosses 2023-12-31 04384012 c:FRS102 2024-01-01 2024-12-31 04384012 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04384012 c:FullAccounts 2024-01-01 2024-12-31 04384012 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04384012 2 2024-01-01 2024-12-31 04384012 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 04384012










JAMES BRETT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
JAMES BRETT LIMITED
REGISTERED NUMBER: 04384012

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
798
1,205

  
798
1,205

Current assets
  

Stocks
  
358,698
360,458

Debtors: amounts falling due within one year
 5 
2,839
7,725

Cash at bank and in hand
  
8,580
37,784

  
370,117
405,967

Creditors: amounts falling due within one year
 6 
(246,678)
(252,434)

Net current assets
  
 
 
123,439
 
 
153,533

Total assets less current liabilities
  
124,237
154,738

  

Net assets
  
124,237
154,738


Capital and reserves
  

Called up share capital 
  
7,736
7,736

Share premium account
  
1,251,870
1,251,870

Profit and loss account
  
(1,135,369)
(1,104,868)

  
124,237
154,738


Page 1

 
JAMES BRETT LIMITED
REGISTERED NUMBER: 04384012
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 income statement 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: 




T B R S Brett
Director

Date: 3 April 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

James Brett Limited is a private company limited by shares and incorporated in England and Wales, registration number 04384012. The registered office is The Warehouse, 16 Ten Bell Lane, Norwich, Norfolk, NR2 1HE.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The company meets its day to day working capital requirements through cash injections by a director. The director does not intend to call upon his loan account unless the company has sufficient funds to repay it.
After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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.

Page 3

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

Pensions

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.

 
2.6

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.

Depreciation is provided on the following basis:

Leasehold property improvements
-
10% straight line
Computer equipment
-
25% 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 the Income Statement.

 
2.7

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 outbasis. 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 the Income Statement.

 
2.8

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.

Page 4

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Leasehold property improvements
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
1,978
833
2,811



At 31 December 2024

1,978
833
2,811



Depreciation


At 1 January 2024
1,188
418
1,606


Charge for the year on owned assets
198
209
407



At 31 December 2024

1,386
627
2,013



Net book value



At 31 December 2024
592
206
798



At 31 December 2023
790
415
1,205

Page 5

 
JAMES BRETT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,317
6,645

Other debtors
594
490

Prepayments and accrued income
928
590

2,839
7,725



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
21

Other creditors
244,732
250,373

Accruals and deferred income
1,946
2,040

246,678
252,434



7.


Pension commitments

The company operates a defined contributions 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 paid by the company to the fund and amounted to £249 (2023: £106). Contributions totalling £126 (2023: £17) were payable to the fund at the statement of financial position date. 


8.


Related party transactions

At the year end a director was owed £244,479 (2023: £250,339). During the year £13,000 was loaned by a director and £18,860 was repaid to the director. The company rents a property from a director at £3,500 per annum. 

 
Page 6