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REGISTERED NUMBER: 00978704 (England and Wales)




















Michael Brandon Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Michael Brandon Limited (Registered number: 00978704)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Michael Brandon Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: H E Brandon
H C Brandon



SECRETARY: H E Brandon



REGISTERED OFFICE: 167-169 Great Portland Street
5th Floor
London
London
W1W 5PF



REGISTERED NUMBER: 00978704 (England and Wales)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
7 High Street
Hawick
TD9 9DA

Michael Brandon Limited (Registered number: 00978704)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 800 -
Tangible assets 5 196,399 196,857
Investment property 6 615,905 615,905
813,104 812,762

CURRENT ASSETS
Stocks 143,658 87,953
Debtors 7 142,624 180,453
Cash at bank and in hand 16,732 37,401
303,014 305,807
CREDITORS
Amounts falling due within one year 8 581,383 631,817
NET CURRENT LIABILITIES (278,369 ) (326,010 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

534,735

486,752

CREDITORS
Amounts falling due after more than
one year

9

(202,097

)

(192,116

)

PROVISIONS FOR LIABILITIES (3,595 ) (3,108 )
NET ASSETS 329,043 291,528

Michael Brandon Limited (Registered number: 00978704)

Balance Sheet - continued
31 December 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,250 1,250
Share premium 11 59,750 59,750
Revaluation reserve 11 74,801 74,801
Fair value reserve 11 212,229 212,229
Retained earnings 11 (18,987 ) (56,502 )
SHAREHOLDERS' FUNDS 329,043 291,528

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 20 May 2025 and were signed on its behalf by:





H E Brandon - Director


Michael Brandon Limited (Registered number: 00978704)

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

1. STATUTORY INFORMATION

Michael Brandon Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover and revenue recognition.
Turnover represents net invoiced sales of motorcycle/automotive parts, excluding value added tax.

Income is recognised on dispatch of goods.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance, 20% on cost and 10% on reducing balance

Freehold property is not depreciated as the directors consider the total market value of property to be equal to or above cost and as such any depreciation would be immaterial.

Investment property
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Michael Brandon Limited (Registered number: 00978704)

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

2. ACCOUNTING POLICIES - continued

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern
The financial statements have been prepared on the going concern principle which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support of its director.

Michael Brandon Limited (Registered number: 00978704)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 1,000
At 31 December 2024 1,000
AMORTISATION
Charge for year 200
At 31 December 2024 200
NET BOOK VALUE
At 31 December 2024 800

Michael Brandon Limited (Registered number: 00978704)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 179,508 203,396 382,904
Additions - 2,000 2,000
At 31 December 2024 179,508 205,396 384,904
DEPRECIATION
At 1 January 2024 - 186,047 186,047
Charge for year - 2,458 2,458
At 31 December 2024 - 188,505 188,505
NET BOOK VALUE
At 31 December 2024 179,508 16,891 196,399
At 31 December 2023 179,508 17,349 196,857

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2004 75,743 - 75,743
Valuation in 2009 14,570 - 14,570
Valuation in 2014 (10,000 ) - (10,000 )
Cost 99,195 205,396 304,591
179,508 205,396 384,904

If freehold properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 89,687 89,687

Freehold properties were valued on an open market basis on 18 May 2015 by D M Hall, Chartered Surveyors .

The director believes there has been no material change to the value since the date of the professional valuation.

Michael Brandon Limited (Registered number: 00978704)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 615,905
NET BOOK VALUE
At 31 December 2024 615,905
At 31 December 2023 615,905

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2004 235,642
Valuation in 2009 45,332
Valuation in 2014 (51,058 )
Cost 385,989
615,905

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 295,084 295,084

The properties are shown at the director's estimated valuation as at 31 December 2024.

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 28,130 24,400
Other debtors 5,846 5,306
33,976 29,706

Amounts falling due after more than one year:
Other debtors 108,648 150,747

Aggregate amounts 142,624 180,453

Michael Brandon Limited (Registered number: 00978704)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 180,090 201,069
Taxation and social security 13,715 18,252
Other creditors 377,578 402,496
581,383 631,817

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,167 14,167
Other creditors 197,930 177,949
202,097 192,116

Included within other creditors is a balance of £16,456 (2023: £20,761) owed to the director.

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 203,930 207,949

The other loans balance relates to amounts due to Bantel Investments Limited, which are secured over the investment properties. The loan is repayable over 10 years and interest is charged at a rate of 1.5% over base per annum.

11. RESERVES
Fair
Retained Share Revaluation value
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 January 2024 (56,502 ) 59,750 74,801 212,229 290,278
Profit for the year 37,515 37,515
At 31 December 2024 (18,987 ) 59,750 74,801 212,229 327,793