Company registration number 03995883 (England and Wales)
BRACHOT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
BRACHOT LIMITED
COMPANY INFORMATION
Directors
Mrs V L R Vaernewyck
Mr D G M Van Overberghe
Mr G F G Van Overberghe
Mr L Van Overberghe
Ms P Van Overberghe
Secretary
Ms D A Hill
Company number
03995883
Registered office
Unit 1 Brook Park
Saltbrook Trading Estate
Saltbrook Road
Halesowen
West Midlands
B63 2QU
Auditor
Sumer Auditco Limited
The Beehive Building
Beehive Ring Road
Gatwick
Crawley
United Kingdom
RH6 0PA
BRACHOT LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 18
BRACHOT LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

The company's key performance indicators are turnover and operating profit.

Turnover has decreased by 5.7% compared to 2023 as a result of the slowdown in the building industry.

 

Today consumer confidence has not fully returned yet to the levels of the two exceptional years 2021 and 2022 after Covid. Inflation rates fell in 2024 and could be a stabilizing indicator for our turnover.

 

Our gross margin increased in 2024 year over previous year. Margin expansion is likely to continue next year due to decrease in ocean freight container prices.

 

We are confident that our company can deliver profitable figures in 2025.

 

Outlook 2025, our aim is to:

- Provide smooth availability of the top 20 products

- Efficient stock management

- Optimizing the sourcing of our products

- Continuing emphasis on sales and margin

 

Principal risks and uncertainties

During the year, the company has been exposed to risks of supplier price increases, credit risk, foreign currency risk and liquidity risk. The directors do not consider any other risks attaching to the use of financial instruments to be material on an assessment of its financial position.

On behalf of the board

Mr G F G Van Overberghe
Director
2 June 2025
BRACHOT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr M R Dolby
(Resigned 8 March 2024)
Mrs V L R Vaernewyck
Mr D G M Van Overberghe
Mr G F G Van Overberghe
Mr L Van Overberghe
Ms P Van Overberghe
Strategic Report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the review of the business and principal risks and uncertainties.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr G F G Van Overberghe
Director
2 June 2025
BRACHOT LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BRACHOT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF BRACHOT LIMITED
- 4 -
Opinion

We have audited the financial statements of Brachot Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

BRACHOT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF BRACHOT LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and the industry in which it operates, we identified principal risks of non-compliance with laws and regulations related to Sales of Goods Act 1979 and employment laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. Additionally, we considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined the principal risks related to posting journal entries to manipulate financial performance, of management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transactions.

 

Audit procedures performed by the engagement team included:

BRACHOT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF BRACHOT LIMITED (CONTINUED)
- 6 -

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Mr Martin Bradley FCCA (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited, Statutory Auditor
Chartered Accountants
The Beehive Building
Beehive Ring Road
Gatwick
Crawley
RH6 0PA
United Kingdom
6 June 2025
BRACHOT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
2024
2023
Notes
£
£
Turnover
10,902,983
11,565,960
Cost of sales
(8,491,107)
(9,100,745)
Gross profit
2,411,876
2,465,215
Distribution costs
(636,473)
(660,981)
Administrative expenses
(1,567,668)
(1,529,369)
Operating profit
3
207,735
274,865
Interest receivable and similar income
6
12,772
41,034
Interest payable and similar expenses
7
(9,844)
(24,209)
Profit before taxation
210,663
291,690
Tax on profit
8
(52,665)
(67,862)
Profit for the financial year
157,998
223,828

The profit and loss account has been prepared on the basis that all operations are continuing operations.

BRACHOT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
2,918,191
2,802,674
Current assets
Stocks
11
3,980,097
3,710,096
Debtors
12
1,294,362
1,535,526
Cash at bank and in hand
1,026,689
833,859
6,301,148
6,079,481
Creditors: amounts falling due within one year
13
(3,582,243)
(3,247,382)
Net current assets
2,718,905
2,832,099
Total assets less current liabilities
5,637,096
5,634,773
Creditors: amounts falling due after more than one year
14
-
0
(155,675)
Net assets
5,637,096
5,479,098
Capital and reserves
Called up share capital
18
5,000
5,000
Profit and loss reserves
5,632,096
5,474,098
Total equity
5,637,096
5,479,098

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 2 June 2025 and are signed on its behalf by:
Mr G F G Van Overberghe
Director
Company registration number 03995883 (England and Wales)
BRACHOT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
5,000
7,975,270
7,980,270
Year ended 31 December 2023:
Profit and total comprehensive income
-
223,828
223,828
Dividends
9
-
(2,725,000)
(2,725,000)
Balance at 31 December 2023
5,000
5,474,098
5,479,098
Year ended 31 December 2024:
Profit and total comprehensive income
-
157,998
157,998
Balance at 31 December 2024
5,000
5,632,096
5,637,096
BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Company information

Brachot Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Brook Park, Saltbrook Trading Estate, Saltbrook Road, Halesowen, West Midlands, B63 2QU. The principal activity of the company continued to be the wholesale of wood, construction materials and sanitary equipment.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Brachot-Hermant NV.These consolidated financial statements are available from its registered office,

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Group loan debtors are unsecured and payable on demand, but group companies have confirmed they they would not seek repayment of these amounts if it were to cause financial hardship to the company. This is in conjunction with the continued supply of raw materials from group companies for the foreseeable future.

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.4
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 the management.

 

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
0-5% on cost
Plant and machinery
10-20% on cost
Fixtures, fittings and equipment
25% on cost
Computers and office equipment
33% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

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

 

1.6
Financial instruments
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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

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 statement of financial position date.

 

 

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

 

 

1.8
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

 

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Stock valuation

Stock is shown in these financial statements less a provision for slow moving or obsolete stock. This provision is based on the age of the raw material. The total provision for slow moving or obsolete stock as at 31 December 2024 was £335,587 (2023: £354,464)

Deferred taxation

Deferred tax is provided on temporary differences at the balance sheet date between the tax base of assets and liabilities and their carrying amounts for financial reporting purposes.

 

Deferred tax assets and liabilities are measured at the tax rates that apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date.

 

The deferred tax liability as at 31 December 2024 has been calculated based on a 25% tax rate, reflecting the expected timing of reversal of the related temporary differences.

Transfer Pricing

Transfer pricing adjustments included in the financial statements are recognised in accordance with the intercompany distribution agreements based on trading activity during the financial year,

3
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(23,135)
6,592
Fees payable to the company's auditor for the audit of the company's financial statements
25,500
22,550
Depreciation of owned tangible fixed assets
61,630
80,500
Profit on disposal of tangible fixed assets
(18,504)
-
BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Director
-
1
Administration
15
14
Distribution
12
11
Total
27
26

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
1,041,618
953,348
Social security costs
125,491
107,149
Pension costs
25,162
26,901
1,192,271
1,087,398
5
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
32,411
91,108
Company pension contributions to defined contribution schemes
-
1,321
32,411
92,429

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 0 (2023 - 1).

6
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
12,772
41,034
7
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
9,844
24,209
BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
50,207
80,452
Deferred tax
Origination and reversal of timing differences
2,458
(12,590)
Total tax charge
52,665
67,862

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
210,663
291,690
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
52,666
72,923
Effect of change in corporation tax rate
-
0
(5,050)
Permanent capital allowances in excess of depreciation
(2,460)
12,579
Deferred tax movement
2,459
(12,590)
Taxation charge for the year
52,665
67,862

The main rate of Corporation Tax in force at the Statement of Financial Position date was 25%, having been enacted from 1 April 2023. Prior to this date, the main rate of Corporation Tax was 19%. This means the effective rate of Corporation Tax for the year was 23.521%.

9
Dividends
2024
2023
£
£
Final paid
-
0
2,725,000
BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
10
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures, fittings and equipment
Computers and office equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
3,798,796
783,094
170,675
39,053
627,787
5,419,405
Additions
8,700
-
0
-
0
3,793
164,654
177,147
Disposals
-
0
-
0
-
0
-
0
(74,504)
(74,504)
At 31 December 2024
3,807,496
783,094
170,675
42,846
717,937
5,522,048
Depreciation and impairment
At 1 January 2024
1,132,637
701,783
170,675
34,956
576,680
2,616,731
Depreciation charged in the year
653
28,016
-
0
1,626
31,335
61,630
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(74,504)
(74,504)
At 31 December 2024
1,133,290
729,799
170,675
36,582
533,511
2,603,857
Carrying amount
At 31 December 2024
2,674,206
53,295
-
0
6,264
184,426
2,918,191
At 31 December 2023
2,666,159
81,311
-
0
4,097
51,107
2,802,674
11
Stocks
2024
2023
£
£
Finished goods and goods for resale
3,980,097
3,710,096
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,090,828
1,188,294
Corporation tax recoverable
24,341
-
0
Amounts owed by group undertakings
50,152
245,014
Prepayments and accrued income
84,890
55,609
1,250,211
1,488,917
Deferred tax asset (note 16)
44,151
46,609
1,294,362
1,535,526

Amounts owed by group undertakings are unsecured and are repayable on demand.

BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
13
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
15
148,077
620,271
Trade creditors
81,818
43,773
Amounts owed to group undertakings
2,728,840
2,264,248
Corporation tax
-
0
5,452
Other taxation and social security
550,506
255,748
Other creditors
11,837
5,610
Accruals and deferred income
61,165
52,280
3,582,243
3,247,382

Amounts owed to group undertakings and participating interests are unsecured and are repayable on demand.

14
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
15
-
0
155,675
15
Loans and overdrafts
2024
2023
£
£
Bank loans
148,077
775,946
Payable within one year
148,077
620,271
Payable after one year
-
0
155,675

The bank loan and overdraft is secured by a fixed and floating charges over the undertaking and all property and assets of the company by way of a debenture dated 27 May 2005.

 

The bank loan is secured by a legal charge dated April 2009 over the property at Saltbrook Trading Estate.

 

The bank loan and overdraft is secured by a fixed and floating charge over the property and assets of the company by way of a debenture dated 30 January 2012.

 

 

BRACHOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Accelerated capital allowances
44,151
46,609
2024
Movements in the year:
£
Asset at 1 January 2024
(46,609)
Charge to profit or loss
2,458
Asset at 31 December 2024
(44,151)
17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
25,162
26,901

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £10 each
500
500
5,000
5,000
20
Ultimate controlling party

The parent company of the group for which consolidated financial statements are prepared is Brachot-Hermant NV. The registered office of this company is E3-laan 86, 9800 Deinze.

 

The ultimate parent undertaking is Stone Gallery NV, a company registered in Belgium.

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