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REGISTERED NUMBER: SC221568 (Scotland)















Financial Statements

for the Year Ended 31 July 2024

for

Brazen Head Buying Limited

Brazen Head Buying Limited (Registered number: SC221568)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Brazen Head Buying Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: G Fraioli
M Fraioli





REGISTERED OFFICE: Unit 3, Morris Park
Glasgow
G5 0YE





REGISTERED NUMBER: SC221568 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Brazen Head Buying Limited (Registered number: SC221568)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 73,917 77,750

CURRENT ASSETS
Stocks 5 12,064 16,384
Debtors 6 21,802 27,541
Cash at bank and in hand 314,557 270,078
348,423 314,003
CREDITORS
Amounts falling due within one year 7 81,399 89,910
NET CURRENT ASSETS 267,024 224,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

340,941

301,843

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 340,939 301,841
SHAREHOLDERS' FUNDS 340,941 301,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:




G Fraioli - Director


Brazen Head Buying Limited (Registered number: SC221568)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Brazen Head Buying Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 22 ) .

Brazen Head Buying Limited (Registered number: SC221568)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Improvements
Leasehold to Plant and
property property machinery
£    £    £   
COST
At 1 August 2023
and 31 July 2024 52,204 8,186 3,200
DEPRECIATION
At 1 August 2023 - 6,095 1,780
Charge for year - 314 213
At 31 July 2024 - 6,409 1,993
NET BOOK VALUE
At 31 July 2024 52,204 1,777 1,207
At 31 July 2023 52,204 2,091 1,420

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 90,636 18,307 172,533
DEPRECIATION
At 1 August 2023 74,284 12,624 94,783
Charge for year 2,453 853 3,833
At 31 July 2024 76,737 13,477 98,616
NET BOOK VALUE
At 31 July 2024 13,899 4,830 73,917
At 31 July 2023 16,352 5,683 77,750

5. STOCKS
31.7.24 31.7.23
£    £   
Stocks 12,064 16,384

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 21,802 27,541

Brazen Head Buying Limited (Registered number: SC221568)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 38,454 43,428
Tax 10,138 3,606
Social security and other taxes 732 (176 )
VAT 1,227 -
Directors' current accounts 19,554 16,538
Accrued expenses 11,294 26,514
81,399 89,910

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2 Ordinary Share Capital £1 2 2