REGISTERED NUMBER: 11467476 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Richard Brendon Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R E Brendon

REGISTERED OFFICE:

002 Westbourne Studios

242 Acklam Road

London

W10 5JJ

REGISTERED NUMBER:

11467476 (England and Wales)

ACCOUNTANTS:

Dragon Argent Limited

63 Bermondsey Street

London

SE1 3XF

FIXED ASSETS

Tangible assets

4

40,643

45,103

Investments

5

823

823

41,466

45,926

CURRENT ASSETS

Stocks

424,302

587,322

Debtors

6

408,597

193,196

Cash at bank

65,258

113,588

898,157

894,106

CREDITORS

Amounts falling due within one year

7

230,988

188,718

NET CURRENT ASSETS

667,169

705,388

TOTAL ASSETS LESS CURRENT LIABILITIES

708,635

751,314

CREDITORS

Amounts falling due after more than one year

8

(706,296

)

(712,117

)

PROVISIONS FOR LIABILITIES

-

(5,425

)

NET ASSETS

2,339

33,772

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

2,338

33,771

2,339

33,772

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 director acknowledges his 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.

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 director and authorised for issue on 30 September 2025 and were signed by:

R E Brendon - Director

1.	STATUTORY INFORMATION

Richard Brendon 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. 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 have been prepared under the historical cost convention.

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 principal accounting policies adopted are set out below.

Preparation of consolidated financial statements

The financial statements contain information about Richard Brendon Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

As at 31 December 2024 the company had net assets of £2,339 (2023 - £33,772). The company meets its day to day working capital requirements through loans from its parent undertaking, access to a bank overdraft facility and through generation of its own working capital through its trade. As at 31 December 2024, the amount due to the parent included in creditors was £695,935 (2023 - £695,935).

As such the director has reasonable expectation that the company has adequate resources to continue in operational existence until a date at least twelve months from the date of approval of these financial statements. For this reason, he continues to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, for the sale of the group's products.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on cost

Fixture and fittings - 25% on cost

Computer equipment - 25% on cost

Computer software - 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

56,520

5,502

41,681

103,703

Additions

5,133

1,161

5,740

12,034

Reclassification/transfer

-

1

-

1

At 31 December 2024

61,653

6,664

47,421

115,738

DEPRECIATION

At 1 January 2024

28,644

3,734

26,222

58,600

Charge for year

8,397

836

7,262

16,495

At 31 December 2024

37,041

4,570

33,484

75,095

NET BOOK VALUE

At 31 December 2024

24,612

2,094

13,937

40,643

At 31 December 2023

27,876

1,768

15,459

45,103

Computer equipment includes capitalised software at a cost of £19,840 which is being depreciated over 5 years. Also included in computer equipment is a perpetual software licence with a cost of £4,500. The licence is being depreciated over 5 years.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

823

NET BOOK VALUE

At 31 December 2024

823

At 31 December 2023

823

The investments relate to a subsidiary named Richard Brendon Inc, registered in the United States, which is 100% owned by the company.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

180,486

24,474

Amounts owed by group undertakings

171,366

142,898

Deferred tax asset

1,629

-

Prepayments and accrued income

55,116

25,824

408,597

193,196

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 9)

5,323

9,618

Trade creditors

55,646

120,689

Taxation and social security

41,695

34,701

Other creditors

128,324

23,710

230,988

188,718

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 9)

10,361

16,182

Amounts owed to group undertakings

695,935

695,935

706,296

712,117

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

18

18

Bank loans

5,305

9,600

Other loans

47,413

-

52,736

9,618

Amounts falling due between two and five years:

Bank loans - 2-5 years

10,361

16,182

Within loans £15,665 (2023 - £25,782) relates to a bounce back loan that was received by the company under a scheme offered by the UK government to assist with the impact of Covid 19 on business operations.

10.	RELATED PARTY DISCLOSURES

At year end, a balance of £695,935 (2023 - £695,935) was owed to the parent company Richard Brendon Holdings Limited, all of which is held within creditors due after one year. The balance is interest free.

At year end, a balance of £171,367 (2023 - £142,898) was owed to the company by the subsidiary company Richard Brendon Inc, all of which is held within other debtors due within one year. The balance is interest free.

The related party loan of £47,413 was received from a member of the Richard Brendon family. Interest accrues monthly at Bank of England base rates and the loan is repayable on demand.

11.	PARENT COMPANY

The ultimate controlling party is R E Brendon.

The immediate and ultimate parent company is Richard Brendon Holdings Limited, a company incorporated in the United Kingdom whose registered office is 002 Westbourne Studios 242 Acklam Road, London, W10 5JJ

The consolidated accounts of the parent company are publicly available from Companies House, Crown Way, Cardiff, CF14 3UZ.