ACCOUNTS - Final Accounts

Registered number: 15119231

BRONNLEY 1884 LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

BRONNLEY 1884 LTD

Company Information

Directors	D L Aaronson
	H S Aaronson
	L C Aaronson


Registered number	15119231


Registered office	2 Lonsdale Road
	London
	England
	NW6 6RD

BRONNLEY 1884 LTD

Contents

	Page
Balance sheet	1 - 2
Statement of changes in equity	3
Notes to the financial statements	4 - 9

BRONNLEY 1884 LTD

Registered number: 15119231

Balance sheet

As at 31 December 2024

		2024
Note		£

Fixed assets
Intangible assets	5		157,579
			157,579
Current assets
Debtors: amounts falling due within one year	6	21,876
		21,876
Creditors: amounts falling due within one year	7	(6,299)
Net current assets			15,577
Total assets less current liabilities			173,156
Creditors: amounts falling due after more than one year	8		(187,419)

Net (liabilities)/assets			(14,263)

Capital and reserves
Called up share capital	9	1
Profit and loss account		(14,264)
		(14,263)

Page 1

BRONNLEY 1884 LTD

Registered number: 15119231

Balance sheet (continued)

As at 31 December 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 period 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 16 September 2025.

H S Aaronson

Director

The notes on pages 4 to 9 form part of these financial statements.

Page 2

BRONNLEY 1884 LTD

Statement of changes in equity

For the Period Ended 31 December 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
Comprehensive income for the period
Loss for the period	-	(14,264)	(14,264)
Total comprehensive income for the period	-	(14,264)	(14,264)
Contributions by and distributions to owners
Shares issued during the period	1	-	1
Total transactions with owners	1	-	1
At 31 December 2024	1	(14,264)	(14,263)

The notes on pages 4 to 9 form part of these financial statements.

Page 3

BRONNLEY 1884 LTD

Notes to the financial statements

For the Period Ended 31 December 2024

1.	General information

Bronnley 1884 Ltd (the "Company") is a private limited company incorporated in the United Kingdom and registered in England and Wales with company registration number 15119231. The Company's registered office is 2 Lonsdale Road, London, England, NW6 6RD.
These financial statements cover the period from incorporation being 6 September 2023 to 31 December 2024.
The principal activity of the Company is that of brand licensing.

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 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 following principal accounting policies have been applied:

2.2

Going concern

The Company has an agreement to receive royalties under the terms of a licensing agreement. Therefore, the Directors believe the Company has adequate future resources to prepare these accounts on a going concern basis.

2.3

Other income

Other income relates to royalties received for the use of the Bronnley brand.

2.4

Taxation

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.

2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The useful economic life of the asset is 10 years and amortisation is recognised in the profit and loss account.

Page 4

BRONNLEY 1884 LTD

Notes to the financial statements

For the Period Ended 31 December 2024

2.Accounting policies (continued)

2.6

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.

2.7

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.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 5

BRONNLEY 1884 LTD

Notes to the financial statements

For the Period Ended 31 December 2024

2.Accounting policies (continued)

2.8

Financial instruments (continued)

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 6

BRONNLEY 1884 LTD

Notes to the financial statements

For the Period Ended 31 December 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with generally accepted accounting practice require management to make estimates and judgements that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the year-end date and the reported amounts of revenues and expenses during the reported period.
Judgements
In the course of preparing the Company financial statements, the only judgements that may have significant effect are those involving estimations which are explained below.
Useful life of intangible assets
The Directors have estimated the useful life of the Bronnley brand to be 10 years based on the licensing agreement which is in place for this period. The asset has been amortised on this basis, starting from the date of which the asset became ready for use.

Employees

The average monthly number of employees, including directors, during the period was 3.

5.	Intangible assets

		Intellectual property
		£
	Cost
	Additions	171,904
	At 31 December 2024	171,904
	Amortisation
	Charge for the period	14,325
	At 31 December 2024	14,325
	Net book value
	At 31 December 2024	157,579

On 6 October 2023 Bronnley 1884 Ltd acquired the intellectual property of a previously trading company which has been included within intangible additions during the period. The additions also include legal fees associated with the purchase. The intangible asset is being amortised over a period of 10 years from the date at which the asset was ready for use, being 1 March 2024.

Page 7

BRONNLEY 1884 LTD

Notes to the financial statements

For the Period Ended 31 December 2024

Debtors

					2024
					£


	Other debtors	21,876
		21,876

7.	Creditors: Amounts falling due within one year
		2024
		£

	Corporation tax	1,299
	Accruals and deferred income	5,000
		6,299

8.	Creditors: Amounts falling due after more than one year
		2024
		£

	Amounts owed to related company	187,419
		187,419

The loan is secured by the Bronnley brand IP.

9.	Share capital
		2024
		£

		Allotted, called up and fully paid

		90 Ordinary A shares of £0.005 each	0.450
		5 Ordinary B shares of £0.005 each	0.025
		5 Ordinary C shares of £0.005 each	0.025

			0.500

100 ordinary shares of nominal value £0.005 were issued at par on incorporation.

Page 8

BRONNLEY 1884 LTD

Notes to the financial statements

For the Period Ended 31 December 2024

10.	Related party transactions
	Included within creditors is a loan owed to a company with common Director shareholders. The balance owed at the year end was £187,419. Interest is accruing at a rate of 3% per annum and the loan is repayable in full on the date of expiry, being 31 December 2028.

Page 9