Acorah Software Products - Accounts Production 16.2.850 false true false 13 October 2023 31 October 2024 31 October 2024 15210119 Mr G A Millage Miss B M Marsland true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15210119 2023-10-12 15210119 2024-10-31 15210119 2023-10-13 2024-10-31 15210119 frs-core:CurrentFinancialInstruments 2024-10-31 15210119 frs-core:Non-currentFinancialInstruments 2024-10-31 15210119 frs-core:InvestmentPropertyIncludedWithinPPE 2024-10-31 15210119 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-13 2024-10-31 15210119 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-12 15210119 frs-core:ShareCapital 2024-10-31 15210119 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 15210119 frs-bus:PrivateLimitedCompanyLtd 2023-10-13 2024-10-31 15210119 frs-bus:FilletedAccounts 2023-10-13 2024-10-31 15210119 frs-bus:SmallEntities 2023-10-13 2024-10-31 15210119 frs-bus:AuditExempt-NoAccountantsReport 2023-10-13 2024-10-31 15210119 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-13 2024-10-31 15210119 1 2023-10-13 2024-10-31 15210119 frs-bus:Director1 2023-10-13 2024-10-31 15210119 frs-bus:Director2 2023-10-13 2024-10-31 15210119 frs-countries:EnglandWales 2023-10-13 2024-10-31
Registered number: 15210119
Braz Ltd
Unaudited Financial Statements
For the Period 13 October 2023 to 31 October 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 15210119
31 October 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 198,508
198,508
CURRENT ASSETS
Debtors 5 7,570
7,570
Creditors: Amounts Falling Due Within One Year 6 (80,218 )
NET CURRENT ASSETS (LIABILITIES) (72,648 )
TOTAL ASSETS LESS CURRENT LIABILITIES 125,860
Creditors: Amounts Falling Due After More Than One Year 7 (130,398 )
NET LIABILITIES (4,538 )
CAPITAL AND RESERVES
Called up share capital 8 2
Profit and Loss Account (4,540 )
SHAREHOLDERS' FUNDS (4,538)
For the period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G A Millage
Director
11/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Braz Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15210119 . The registered office is Hillside House, Hillside Road, Ilfracombe, EX34 9QS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
2.4. Investment Properties
The investment property is measured at cost less accumulated depreciation and impairment. Fair value is not used as it cannot be measured reliably without undue cost or effort.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL
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Page 2
Page 3
4. Tangible Assets
Investment Properties
£
Cost
As at 13 October 2023 -
Additions 198,508
As at 31 October 2024 198,508
Net Book Value
As at 31 October 2024 198,508
As at 13 October 2023 -
5. Debtors
31 October 2024
£
Due within one year
Other debtors 7,570
6. Creditors: Amounts Falling Due Within One Year
31 October 2024
£
Trade creditors 1
Bank loans and overdrafts 7,957
Accruals and deferred income 500
Directors' loan accounts 71,760
80,218
7. Creditors: Amounts Falling Due After More Than One Year
31 October 2024
£
Bank loans 130,398
8. Share Capital
31 October 2024
£
Allotted, Called up and fully paid 2
9. Related Party Transactions
During the year, the directors, who are also the shareholders of the company, advanced funds totalling £89,112 to assist with the acquisition of investment property. The amount was treated as a loan to the company and is repayable at a future date. No interest is charged on this loan, and there is no formal repayment schedule currently in place.
There were no other related party transactions during the year.
10. Ultimate Controlling Party
The company's ultimate controlling party are the current directors by virtue of his ownership of 100% of the issued share capital in the company.
Page 3