Braemar Enterprises Ltd

Contents

Abridged Balance Sheet	1
Notes to the Unaudited Abridged Financial Statements	2 to 4

Braemar Enterprises Ltd

(Registration number: NI609771)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	56,411	62,294
Current assets
Stocks		23,856	21,001
Debtors		1,089,453	774,443
Cash at bank and in hand		93,843	322,478
		1,207,152	1,117,922
Creditors: Amounts falling due within one year		(340,378)	(270,403)
Net current assets		866,774	847,519
Total assets less current liabilities		923,185	909,813
Provisions for liabilities		(13,810)	(15,216)
Net assets		909,375	894,597
Capital and reserves
Called up share capital		100	100
Profit and loss account		909,275	894,497
Total equity		909,375	894,597

For the financial year ending 31 December 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 of its accounts for the year in question in accordance with section 476; and
	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 19 September 2025
 

Mr S Murray

Director

Braemar Enterprises Ltd

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

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
33 Malone Meadows
Belfast
County Antrim
BT9 5BG
Northern Ireland

These financial statements were authorised for issue by the director on 19 September 2025.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services
to customers during the year.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Braemar Enterprises Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	15% reducing balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 18).

Braemar Enterprises Ltd

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

4	Intangible assets

	Total £
Cost or valuation
At 1 January 2024	286,293
At 31 December 2024	286,293
Amortisation
At 1 January 2024	286,293
At 31 December 2024	286,293
Carrying amount
At 31 December 2024	-

5	Tangible assets

	Total £
Cost or valuation
At 1 January 2024	175,242
Additions	4,072
At 31 December 2024	179,314
Depreciation
At 1 January 2024	112,948
Charge for the year	9,955
At 31 December 2024	122,903
Carrying amount
At 31 December 2024	56,411
At 31 December 2023	62,294

6	Related party transactions

Advances to directors

Mr S Murray During the period Mr S Murray went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £387,128 (2023 - £Nil). At the year end the amount outstanding from Mr S Murray was £385,895 (2023 - £-). Interest has been charged at the commercial rate.

Summary of transactions with other related parties

Included within other debtors is a loan to Ventura Capital Limited for £536,000 (2023 - £740,000) which is a related company under common control.