2023-08-012024-07-312024-07-31false10020042BRAY CONSORTIUM 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BRAY CONSORTIUM LIMITED

Registered Number
10020042
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

BRAY CONSORTIUM LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

BRAY, Helen Wendy
BRAY, Michael John Colin
BRAY, William James Henry

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

10020042 (England and Wales)
BRAY CONSORTIUM LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3128,100157,567
Tangible assets499,655111,110
227,755268,677
Current assets
Stocks510,54319,375
Debtors6398,562400,862
Cash at bank and on hand42,81714,093
451,922434,330
Creditors amounts falling due within one year7(771,754)(692,468)
Net current assets (liabilities)(319,832)(258,138)
Total assets less current liabilities(92,077)10,539
Creditors amounts falling due after one year8(162,336)(188,050)
Provisions for liabilities9(4,084)(4,084)
Net assets(258,497)(181,595)
Capital and reserves
Called up share capital100100
Profit and loss account(258,597)(181,695)
Shareholders' funds(258,497)(181,595)
The financial statements were approved and authorised for issue by the Board of Directors on 25 April 2025, and are signed on its behalf by:
BRAY, William James Henry
Director
Registered Company No. 10020042
BRAY CONSORTIUM LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on a going concern basis. The directors consider the going concern basis to be appropriate because, in their opinion, the company will continue to obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of 10 years. Franchise fees are being amortised evenly over their estimated useful life of 20 years.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings15-
Plant and machinery25-
Fixtures and fittings15-
Office Equipment-3
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). Inventories consists of unused raw materials at the year end.
2.Average number of employees

20242023
Average number of employees during the year2323
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 August 23292,4794,400296,879
At 31 July 24292,4794,400296,879
Amortisation and impairment
At 01 August 23137,9921,320139,312
Charge for year29,24722029,467
At 31 July 24167,2391,540168,779
Net book value
At 31 July 24125,2402,860128,100
At 31 July 23154,4873,080157,567
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 August 23124,840858138,8313,242267,771
Additions-6,986--6,986
At 31 July 24124,8407,844138,8313,242274,757
Depreciation and impairment
At 01 August 2372,31916082,3521,830156,661
Charge for year7,9119778,4721,08118,441
At 31 July 2480,2301,13790,8242,911175,102
Net book value
At 31 July 2444,6106,70748,00733199,655
At 31 July 2352,52169856,4791,412111,110
5.Stocks

2024

2023

££
Raw materials and consumables10,54319,375
Total10,54319,375
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,5696,704
Other debtors376,024376,843
Prepayments and accrued income19,96917,315
Total398,562400,862
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables81,00649,261
Bank borrowings and overdrafts42,40141,532
Taxation and social security140,22070,735
Other creditors505,446525,272
Accrued liabilities and deferred income2,6815,668
Total771,754692,468
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts162,336188,050
Total162,336188,050
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,0844,084
Total4,0844,084
10.Directors advances, credits and guarantees
Other creditors include an amount of £114 (2023: £25,167 Dr) related to the directors' loan account of Mr William Bray. Other creditors include an amount of £92 (2023: £1206 Cr) related to the directors' loan account of Mr Michael Bray.
11.Related party transactions
Other creditors include balance of £504,354 (2023: £523,183 Cr) relates to E4MHB Limited where Mr. M Bray and Ms. H W Bray are directors of E4MHB Limited and Rent Deposit of £740 (2023 : £740).