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REGISTERED NUMBER: 01033626 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 December 2024

for

A. G. Bracey Limited

A. G. Bracey Limited (Registered number: 01033626)






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


A. G. Bracey Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs M Hastings
Mr A G Bracey Jnr





REGISTERED OFFICE: Unit 13
Pucklechurch Trading Estate
Pucklechurch
Bristol
BS16 9QH





REGISTERED NUMBER: 01033626 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

A. G. Bracey Limited (Registered number: 01033626)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 185,917 209,698
Investments 5 14,000 14,000
199,917 223,698

CURRENT ASSETS
Stocks 18,000 18,000
Debtors 6 246,466 254,492
Cash at bank and in hand 594,383 348,038
858,849 620,530
CREDITORS
Amounts falling due within one year 7 277,007 204,323
NET CURRENT ASSETS 581,842 416,207
TOTAL ASSETS LESS CURRENT LIABILITIES 781,759 639,905

CREDITORS
Amounts falling due after more than one year 8 (7,500 ) (17,500 )

PROVISIONS FOR LIABILITIES (14,039 ) (15,897 )
NET ASSETS 760,220 606,508

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Fair value reserve 11 100,998 100,998
Retained earnings 11 649,222 495,510
SHAREHOLDERS' FUNDS 760,220 606,508

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.

A. G. Bracey Limited (Registered number: 01033626)

Balance Sheet - continued
31 December 2024


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 16 June 2025 and were signed on its behalf by:





Mr A G Bracey Jnr - Director


A. G. Bracey Limited (Registered number: 01033626)

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

1. STATUTORY INFORMATION

A. G. Bracey 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 good 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 measure 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.


Construction contracts

Revenue from a construction contract is recognised in the period in which the construction is 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 4% on cost
Plant and machinery - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 33.33% on cost

A. G. Bracey Limited (Registered number: 01033626)

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments
Investments comprise shares held in an unlisted company, and are held at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 15 ) .

A. G. Bracey Limited (Registered number: 01033626)

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

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 235,000 229,858 73,391 1,394 539,643
Additions - 6,890 15,360 - 22,250
Disposals - - (18,760 ) - (18,760 )
At 31 December 2024 235,000 236,748 69,991 1,394 543,133
DEPRECIATION
At 1 January 2024 112,800 194,560 21,898 687 329,945
Charge for year 9,400 8,381 15,859 275 33,915
Eliminated on disposal - - (6,644 ) - (6,644 )
At 31 December 2024 122,200 202,941 31,113 962 357,216
NET BOOK VALUE
At 31 December 2024 112,800 33,807 38,878 432 185,917
At 31 December 2023 122,200 35,298 51,493 707 209,698

Leasehold property and Plant and machinery were revalued with an increase of £86,702 in 1999 and have since been held at depreciated deemed cost.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 14,000
NET BOOK VALUE
At 31 December 2024 14,000
At 31 December 2023 14,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 179,970 60,218
Other debtors 2,712 2,712
Accrued income 49,012 175,219
Prepayments 14,772 16,343
246,466 254,492

A. G. Bracey Limited (Registered number: 01033626)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 47,636 92,500
Tax 71,734 26,956
Social security and other taxes 12,325 12,760
VAT 54,922 44,958
Other creditors 9,975 12,825
Directors' current accounts 18,715 1,872
Accrued expenses 51,700 2,452
277,007 204,323

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years 7,500 10,000
Bank loans - 2-5 years - 7,500
7,500 17,500

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 38,000 38,000
Between one and five years 95,000 133,000
133,000 171,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10,000 Ordinary £1 10,000 10,000

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2024 495,510 100,998 596,508
Profit for the year 227,890 227,890
Dividends (74,178 ) (74,178 )
At 31 December 2024 649,222 100,998 750,220

12. RELATED PARTY DISCLOSURES

During the year rents of £24,000 (2023 - £24,000) were paid to a company under common control.