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Registered number: 05572645










BRAZILIA LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
BRAZILIA LTD
 
 
COMPANY INFORMATION


Directors
T B Cabbell Manners 
R Cabbell Manners 
H J Cabbell Manners 
Mrs D D E Cabbell Manners 
Mrs J Conway 




Registered number
05572645



Registered office
12 Church Street

Cromer

Norfolk

NR27 9ER




Accountants
MA Partners LLP

12 Church Street

Cromer

Norfolk

NR27 9ER





 
BRAZILIA LTD
 

CONTENTS



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10


 
BRAZILIA LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRAZILIA LTD
FOR THE YEAR ENDED 30 NOVEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brazilia Ltd for the year ended 30 November 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Brazilia Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Brazilia Ltd and state those matters that we have agreed to state to the Board of directors of Brazilia Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brazilia Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Brazilia Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Brazilia Ltd. You consider that Brazilia Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Brazilia Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
12 Church Street
Cromer
Norfolk
NR27 9ER
27 May 2025
Page 1

 
BRAZILIA LTD
REGISTERED NUMBER: 05572645

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
721,352
727,921

  
721,352
727,921

Current assets
  

Stocks
  
25,799
28,486

Debtors: amounts falling due within one year
 5 
133,324
208,641

Cash at bank and in hand
 6 
8,993
4,271

  
168,116
241,398

Creditors: amounts falling due within one year
 7 
(537,925)
(608,055)

Net current liabilities
  
 
 
(369,809)
 
 
(366,657)

Total assets less current liabilities
  
351,543
361,264

Creditors: amounts falling due after more than one year
 8 
-
(9,259)

Provisions for liabilities
  

Deferred tax
 10 
(11,730)
(12,694)

  
 
 
(11,730)
 
 
(12,694)

Net assets
  
339,813
339,311


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
339,811
339,309

  
339,813
339,311


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.

Page 2

 
BRAZILIA LTD
REGISTERED NUMBER: 05572645
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The Company has opted not to file the statement of income and retained earnings 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 on 27 May 2025.


T B Cabbell Manners
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
BRAZILIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.
The company's principle activity is that of a zoo.

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.

 
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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
BRAZILIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.8

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.

Page 5

 
BRAZILIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 6

 
BRAZILIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 19).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 December 2023
970,387
434,113
71,065
1,475,565


Additions
967
26,595
-
27,562



At 30 November 2024

971,354
460,708
71,065
1,503,127



Depreciation


At 1 December 2023
310,811
370,344
66,489
747,644


Charge for the year on owned assets
19,411
13,576
1,144
34,131



At 30 November 2024

330,222
383,920
67,633
781,775



Net book value



At 30 November 2024
641,132
76,788
3,432
721,352



At 30 November 2023
659,576
63,769
4,576
727,921

Page 7

 
BRAZILIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Debtors

2024
2023
£
£


Other debtors
129,531
206,818

Prepayments and accrued income
3,793
1,823

133,324
208,641



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,993
4,271

Less: bank overdrafts
-
(223)

8,993
4,048



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
223

Bank loans
9,259
22,222

Trade creditors
39,523
38,519

Amounts owed to group undertakings
466,929
467,049

Other taxation and social security
17,328
24,295

Other creditors
1,340
52,364

Accruals and deferred income
3,546
3,383

537,925
608,055


Page 8

 
BRAZILIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
9,259

-
9,259


The following liabilities were secured:

2024
2023
£
£



Bank loan
-
31,481

-
31,481

Details of security provided:

The CBIL's loan is secured by a fixed and floating charge over the company's assets.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,259
22,222


9,259
22,222

Amounts falling due 1-2 years

Bank loans
-
9,259


-
9,259



9,259
31,481



10.


Deferred taxation

Page 9

 
BRAZILIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
10.Deferred taxation (continued)




2024


£






At beginning of year
(12,694)


Charged to profit or loss
964



At end of year
(11,730)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(11,730)
(12,694)

(11,730)
(12,694)


11.


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 payable by the Company to the fund and amounted to £6,605 (2023 - £5,762). Contributions totalling £1,339 (2023 - £1,148) were payable to the fund at the balance date and are included in creditors.


12.


Related party transactions

During the year the company loaned some money to a business owned by a director.  No interest is being charged on the loan made.


13.


Controlling party

"Cabbell Holdings Ltd" is the parent company.  The address of its registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.
The company is exempt from the obligation to prepare and deliver group accounts.

 
Page 10