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Registered number: 03501079










BRS TRAINING LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024



 
BRS TRAINING LTD
REGISTERED NUMBER: 03501079

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
96,379
96,035

  
96,379
96,035

Current assets
  

Stocks
 6 
-
409

Debtors: amounts falling due within one year
 7 
167,524
111,886

Cash at bank and in hand
  
42,912
55,971

  
210,436
168,266

Creditors: amounts falling due within one year
 8 
(35,752)
(57,349)

Net current assets
  
 
 
174,684
 
 
110,917

Total assets less current liabilities
  
271,063
206,952

  

Net assets
  
271,063
206,952


Capital and reserves
  

Called up share capital 
  
300,000
300,000

Profit and loss account
  
(28,937)
(93,048)

  
271,063
206,952


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: 




Andrew Braithwaite
Director

Date: 9 April 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
BRS TRAINING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

BRS Training Ltd is a private company limited by shares, domiciled in England and Wales, registration number 03501079. The registered office address and principal place of business is The British Racing School, Snailwell Road, Newmarket, Suffolk, CB8 7NU. 

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

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.

 
2.3

Interest income

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

 
2.4

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.

Page 2

 
BRS TRAINING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Taxation

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.


 
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, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property improvements
-
25 and 15 years
Fixtures & Fittings
-
4 and 3 years
Conference facilities equipment
-
10 and 3 years

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.

 
2.7

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 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.

 
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 3

 
BRS TRAINING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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 investment in ordinary shares. 


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Tangible fixed assets (see note 6)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2)

Page 4

 
BRS TRAINING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





leasehold property imporvements
Conference Facilities Equipment
Fixtures & Fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
421,430
100,128
59,985
581,543


Additions
-
5,997
1,447
7,444



At 31 July 2024

421,430
106,125
61,432
588,987



Depreciation


At 1 August 2023
326,986
100,128
58,394
485,508


Charge for the year
5,537
833
730
7,100



At 31 July 2024

332,523
100,961
59,124
492,608



Net book value



At 31 July 2024
88,907
5,164
2,308
96,379



At 31 July 2023
94,444
-
1,591
96,035


6.


Stocks

2024
2023
£
£

Goods for resale
-
409

-
409



7.


Debtors

2024
2023
£
£


Trade debtors
32,077
50,959

Amounts owed by group undertakings
102,009
38,360

Other debtors
12,280
5,608

Prepayments and accrued income
21,158
16,959

167,524
111,886


Page 5

 
BRS TRAINING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,426
28,277

Corporation tax
20,311
9,857

Accruals and deferred income
13,015
19,215

35,752
57,349



9.


Related party transactions

The company has taken advance of the exemption in FRS 102 section 33.1A to not disclose transactions with parent entities.
There were no other transactions with related parties during the year.


10.


Controlling party

The directors regard BRS Education Limited, a charitable company registered in England, which is under the control of its Trustees, as the ultimate parent undertaking and controlling party. Copies of the parent's consolidated financial statements may be obtained from the British Racing School, Snailwell Road, Newmarket, Suffolk, CB8 7NU.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 15 April 2025 by Fiona Hawkins BSc (Hons) MSc FCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.

Page 6