Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30true212023-10-01falseNo description of principal activity20falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00779140 2023-10-01 2024-09-30 00779140 2022-10-01 2023-09-30 00779140 2024-09-30 00779140 2023-09-30 00779140 c:Director1 2023-10-01 2024-09-30 00779140 d:PlantMachinery 2023-10-01 2024-09-30 00779140 d:PlantMachinery 2024-09-30 00779140 d:PlantMachinery 2023-09-30 00779140 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00779140 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00779140 d:MotorVehicles 2023-10-01 2024-09-30 00779140 d:MotorVehicles 2024-09-30 00779140 d:MotorVehicles 2023-09-30 00779140 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00779140 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00779140 d:FurnitureFittings 2023-10-01 2024-09-30 00779140 d:FurnitureFittings 2024-09-30 00779140 d:FurnitureFittings 2023-09-30 00779140 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00779140 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00779140 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00779140 d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 00779140 d:CurrentFinancialInstruments 2024-09-30 00779140 d:CurrentFinancialInstruments 2023-09-30 00779140 d:Non-currentFinancialInstruments 2024-09-30 00779140 d:Non-currentFinancialInstruments 2023-09-30 00779140 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 00779140 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 00779140 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 00779140 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 00779140 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 00779140 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 00779140 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 00779140 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 00779140 d:ShareCapital 2024-09-30 00779140 d:ShareCapital 2023-09-30 00779140 d:SharePremium 2024-09-30 00779140 d:SharePremium 2023-09-30 00779140 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 00779140 d:RetainedEarningsAccumulatedLosses 2024-09-30 00779140 d:RetainedEarningsAccumulatedLosses 2023-09-30 00779140 c:OrdinaryShareClass1 2023-10-01 2024-09-30 00779140 c:OrdinaryShareClass1 2024-09-30 00779140 c:OrdinaryShareClass1 2023-09-30 00779140 c:FRS102 2023-10-01 2024-09-30 00779140 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 00779140 c:FullAccounts 2023-10-01 2024-09-30 00779140 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00779140 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 00779140 d:HirePurchaseContracts d:WithinOneYear 2023-09-30 00779140 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 00779140 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-09-30 00779140 2 2023-10-01 2024-09-30 00779140 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-09-30 00779140 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 00779140 d:LeasedAssetsHeldAsLessee 2024-09-30 00779140 d:LeasedAssetsHeldAsLessee 2023-09-30 00779140 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00779140










BROWNS OF WEM LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BROWNS OF WEM LIMITED
REGISTERED NUMBER:00779140

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
133,477
81,853

  
133,477
81,853

Current assets
  

Stocks
 6 
425,000
370,000

Debtors: amounts falling due within one year
 7 
497,112
322,166

Cash at bank and in hand
 8 
140,973
440,645

  
1,063,085
1,132,811

Creditors: amounts falling due within one year
 9 
(649,672)
(713,678)

Net current assets
  
 
 
413,413
 
 
419,133

Total assets less current liabilities
  
546,890
500,986

Creditors: amounts falling due after more than one year
 10 
(59,861)
(25,000)

Provisions for liabilities
  

Deferred tax
  
(15,299)
(13,542)

  
 
 
(15,299)
 
 
(13,542)

Net assets
  
471,730
462,444


Capital and reserves
  

Called up share capital 
 13 
20,001
20,001

Share premium account
 14 
300,000
300,000

Profit and loss account
 14 
151,729
142,443

  
471,730
462,444


Page 1

 
BROWNS OF WEM LIMITED
REGISTERED NUMBER:00779140
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

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.

The Company has opted not to file the statement of comprehensive income 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 13 June 2025.




N J Jefferies
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Browns of Wem Limited, 00779140, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Four Lane Ends, Wem, Shropshire, SY4 5UQ.
The principal activity of the Company is the supply and erection of buildings.

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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.

Page 4

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

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.


 
2.9

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10 - 33.3%
Motor vehicles
-
10 - 25%
Fixtures and fittings
-
10 - 33.3%

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.

Page 5

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 6

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 21 (2023 - 20).


5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 October 2023
204,609
114,793
119,220
438,622


Additions
-
115,942
-
115,942


Disposals
-
(75,691)
-
(75,691)



At 30 September 2024

204,609
155,044
119,220
478,873



Depreciation


At 1 October 2023
184,781
54,792
117,196
356,769


Charge for the year on owned assets
2,882
1,527
1,981
6,390


Charge for the year on financed assets
-
8,928
-
8,928


Disposals
-
(26,691)
-
(26,691)



At 30 September 2024

187,663
38,556
119,177
345,396



Net book value



At 30 September 2024
16,946
116,488
43
133,477



At 30 September 2023
19,828
60,001
2,024
81,853

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
112,015
54,000

112,015
54,000

Page 7

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Stocks

2024
2023
£
£

Raw materials and consumables
425,000
370,000

425,000
370,000



7.


Debtors

2024
2023
£
£


Trade debtors
287,112
46,570

Prepayments and accrued income
210,000
275,596

497,112
322,166



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
140,973
440,645

140,973
440,645


Page 8

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Payments received on account
310
65,500

Trade creditors
375,165
374,757

Other taxation and social security
117,371
89,017

Obligations under finance lease and hire purchase contracts
25,000
7,387

Other creditors
4,922
2,951

Accruals and deferred income
116,904
164,066

649,672
713,678


The following liabilities were secured:

2024
2023
£
£



Obligations under hire purchase contracts
25,000
7,387

25,000
7,387

Details of security provided:

The hire purchase liabilities are secured upon the assets to which they relate.
The amount of £10,000 included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

Page 9

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
15,000
25,000

Net obligations under finance leases and hire purchase contracts
44,861
-

59,861
25,000


The following liabilities were secured:

2024
2023
£
£



Obligations under hire purchase contracts
44,861
-

44,861
-

Details of security provided:

The hire purchase liabilities are secured upon the assets to which they relate.
The amount of £15,000 included in creditors due after one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

Page 10

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
5,000
15,000


5,000
15,000


25,000
35,000



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
25,000
7,387

Between 1-5 years
44,861
-

69,861
7,387

Page 11

 
BROWNS OF WEM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



20,001 (2023 - 20,001) Ordinary shares of £1.00 each
20,001
20,001



14.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders. 


15.


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 £9,449 (2023 £8,759). Contributions totaling £2,035 (2023: £1,732) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 12