Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falsefalse2024-01-01the extraction, bottling and sale of water.4442truefalse 12212678 2024-01-01 2024-12-31 12212678 2023-01-01 2023-12-31 12212678 2024-12-31 12212678 2023-12-31 12212678 c:Director1 2024-01-01 2024-12-31 12212678 d:Buildings 2024-01-01 2024-12-31 12212678 d:Buildings 2024-12-31 12212678 d:Buildings 2023-12-31 12212678 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12212678 d:PlantMachinery 2024-01-01 2024-12-31 12212678 d:PlantMachinery 2024-12-31 12212678 d:PlantMachinery 2023-12-31 12212678 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12212678 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12212678 d:CurrentFinancialInstruments 2024-12-31 12212678 d:CurrentFinancialInstruments 2023-12-31 12212678 d:Non-currentFinancialInstruments 2024-12-31 12212678 d:Non-currentFinancialInstruments 2023-12-31 12212678 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12212678 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12212678 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 12212678 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12212678 d:ShareCapital 2024-12-31 12212678 d:ShareCapital 2023-12-31 12212678 d:RevaluationReserve 2024-12-31 12212678 d:RevaluationReserve 2023-12-31 12212678 d:RetainedEarningsAccumulatedLosses 2024-12-31 12212678 d:RetainedEarningsAccumulatedLosses 2023-12-31 12212678 c:FRS102 2024-01-01 2024-12-31 12212678 c:Audited 2024-01-01 2024-12-31 12212678 c:FullAccounts 2024-01-01 2024-12-31 12212678 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12212678 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12212678 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 12212678










BRECON CARREG LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BRECON CARREG LTD
REGISTERED NUMBER: 12212678

BALANCE SHEET
AS AT 31 DECEMBER 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,638,151
2,810,682

Investments
 6 
1
1

  
2,638,152
2,810,683

Current assets
  

Stocks
  
386,014
661,418

Debtors: amounts falling due within one year
 7 
1,753,332
1,591,094

Cash at bank and in hand
  
19,400
32,599

  
2,158,746
2,285,111

Creditors: amounts falling due within one year
 8 
(2,927,759)
(3,351,781)

Net current liabilities
  
 
 
(769,013)
 
 
(1,066,670)

Total assets less current liabilities
  
1,869,139
1,744,013

Creditors: amounts falling due after more than one year
 9 
(100,501)
(709,634)

Provisions for liabilities
  

Deferred tax
  
(511,756)
(545,676)

  
 
 
(511,756)
 
 
(545,676)

Net assets
  
1,256,882
488,703


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
535,529
632,090

Profit and loss account
  
721,253
(143,487)

  
1,256,882
488,703


Page 1

 
BRECON CARREG LTD
REGISTERED NUMBER: 12212678
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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 profit and loss account 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 23 July 2025.




David William Stockley
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Brecon Carreg Ltd is a private company, limited by shares, registered in England and Wales. The  company's registered number is 12212678 and registered office address is Llwyndewi Isaf Trap, Llandeilo, Carmarthenshire, United Kingdom, SA19 6TT.
 
The presentation currency of the financial statements is the Pound Sterling (£).
Monetary amounts in these financial statements are rounded to the nearest (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets 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.

  
2.2

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 
2.3

Going concern

In preparing the financial statements, the directors have considered the current financial position of the company and have concluded that it is appropriate to prepare the financial statements on a going concern basis. The company is reliant on upon the continued support of lenders. The directors have assessed an expectation of continued support for the foreseeable future.
In forming this conclusion, the directors have considered the company's net assets and the profit reported in the current financial year, as well as projected results and cash flow over the forthcoming twelve months.

  
2.4

Turnover and revenue recognition

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 when the company has transferred the significant risks and rewards of ownership to the buyer, which is generally on despatch of goods to the buyer.

  
2.5

Investments in subsidiaries

Investments in subsidiary companies are stated at cost less impairment.

Page 3

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.


 
2.8

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.

Page 4

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land and buildings
-
at varying rates on cost
Plant and machinery
-
at varying rates on cost

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.

  
2.9

Stocks

Stock of raw materials are valued at cost. Manufactured goods and finished products incorporate raw material costs, labour costs and attributable overhead costs.
Stock is valued at the lower of cost and estimated selling price, less costs to complete and sell.

  
2.10

Research and development

Research and development costs are recognised as an expense when they are incurred. No development costs are capitalised.

  
2.11

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 gains and losses are taken into account in arriving at the operating result.

  
2.12

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. 

  
2.13

Factoring arrangements

Trade debtors that are debt factored under recourse agreements where the risks of non payment by customers remains with the company, are accounted for within trade debtors until such time that they are collected. Amounts collected by the factoring company in relation to the company's trade debtors, net of advances to the company and finance charges are shown within current assets or current liabilities, as relevant.

Page 5

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies 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 amounts 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 which 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 if the revision only effects that  period or in the period of the revision and future periods if the revision affects both current and future  periods.
The following are the critical judgements that the directors have made in the process of applying the  company's accounting policies and that have the most significant effect on the amounts recognised in the  financial statements.
Provisions and contingent liabilities
Provisions are recognised when the company has a present obligation as a result of a past event and a  reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities  are disclosed unless the transfer of economic benefits is remote. Contingent assets are only disclosed if  an inflow of economic benefits is probable.
Valuation of assets
The valuation of fixed assets acquired as part of the acquisition of the business and assets at the  commencement of trade were assessed with reference to their original purchase cost less depreciation to  reflect the assets' overall useful expected life. Depreciation expense subsequent to the commencement  of trade is calculated with reference to the assets' remaining useful expected life from the date of original  purchase by the previous owner. The directors have reviewed depreciation rates, residual values and  remaining useful lives of fixed assets within the year.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective  evidence of impairment, an impairment loss is recognised in the income statement.


4.


Employees

The average monthly number of employees, including directors, during the year was 44 (2023 - 42).

Page 6

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Freehold property
Plant and machinery etc
Total

£
£
£



Cost or valuation


At 1 January 2024
977,270
2,870,190
3,847,460


Additions
-
121,344
121,344



At 31 December 2024

977,270
2,991,534
3,968,804



Depreciation


At 1 January 2024
127,947
908,831
1,036,778


Charge for the year on owned assets
41,452
252,423
293,875



At 31 December 2024

169,399
1,161,254
1,330,653



Net book value



At 31 December 2024
807,871
1,830,280
2,638,151



At 31 December 2023
849,323
1,961,359
2,810,682

Included in cost or valuation of land and buildings is freehold land of £400,000 (2023 - £400,000) which is not depreciated.


6.


Fixed asset investments





Shares in group undertaking

£



Cost or valuation


At 1 January 2024
1



At 31 December 2024
1




Page 7

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

As restated
2024
2023
£
£


Trade debtors
1,570,535
1,379,048

Amounts owed by group undertakings
-
210

Prepayments and accrued income
182,797
211,836

1,753,332
1,591,094



8.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Bank loans
10,126
10,970

Other loans
570,119
448,370

Trade creditors
1,093,659
1,306,956

Corporation tax
6,113
-

Other taxation and social security
206,840
295,575

Obligations under finance lease and hire purchase contracts
-
52,050

Other creditors
791,996
962,020

Accruals and deferred income
248,906
275,840

2,927,759
3,351,781



9.


Creditors: Amounts falling due after more than one year

As restated
2024
2023
£
£

Bank loans
9,282
18,564

Other loans
91,219
691,070

100,501
709,634


Page 8

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.

Secured debts

The following secured debts are included within creditors:

As restated
2024
2023
        £
        £
Hire purchase contracts

-

52,050
 

The company also has a debt factoring facility which is secured against the assets of the company.


11.


Prior year adjustment

The directors identified an omission relating to the acquisition of the net assets at the commencement of trading in the period ended 31st December 2020. An element of the consideration was paid directly to the vendor, Spadel, from the company's invoice discounting vendor and this has only been clarified as having occurred in the financial period to 31 December 2024.
Therefore, the company has reported a prior year adjustment to recognise the additional liability due to its funders. The increased liability has also impacted the revaluation reserve, as the contracted acquisition value of fixed assets was incorrect.
There has also been a related impact of the adjustment on deferred tax on revalued assets and also the calculation of transfers between the reserves relating to depreciation charged on revaluation uplifts. There has been minimal impact on reported profit/losses.
The table below summarises the impact for each financial statement line for the relevant periods:









The revised reported assets and liabilities are:

Previously reported
Restated
        £
        £
Revaluation reserve

860,063

632,090
 
Deferred tax liability

670,676

545,676
 
Profit and loss reserve

11,420

(143,487)
 
Invoice discounting liability

442,511

950,391
 


12.Other financial commitments

The company has commitments under non cancellable operating leases amounting to £1,648,340 (2023:  £1,957,340).

Page 9

 
BRECON CARREG LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Related party transactions

At the commencement of trading, the company acquired the business assets from Spadel SA, a  corporate director, for an undisclosed sum. The company has a loan facility with Spadel  SA and owed that company £661,338 (2023: £1,139,439) at the balance sheet date. The loan is  repayable by instalments within 5 years at a fixed interest rate of 4% and is unsecured.
Within the period, the company incurred costs totalling £nil (2023: £26,040), recharged from Spadel  SA. At the balance sheet date, the company owed Spadel SA £nil (2023: £nil) in relation to recharged  costs, which are payable within normal creditor terms.
The company paid consultancy costs to a company controlled by a director; the total cost incurred in  relation to the period was £18,000 (2023: £15,000) and no amounts were outstanding at the balance  sheet date.
At the balance sheet date, the company was owed £nil (2023: £210) from its subsidiary Carreg Land Limited.
At the balance sheet date, the company owed £469 (2023: £nil) by directors in relation to expense claims.


14.


Controlling party

The controlling party is D W Stockley.


15.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 23 July 2025 by Rachel Doyle ACA (Senior statutory auditor) on behalf of MHA.

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542). 

 
Page 10