1 January 2024 v2025.63.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP120376322024-01-012024-12-31120376322024-12-31120376322023-12-3112037632core:WithinOneYear2024-12-3112037632core:WithinOneYear2023-12-3112037632core:ShareCapital2024-12-3112037632core:ShareCapital2023-12-3112037632core:RetainedEarningsAccumulatedLosses2024-12-3112037632core:RetainedEarningsAccumulatedLosses2023-12-3112037632bus:Director12024-01-012024-12-3112037632bus:RegisteredOffice2024-01-012024-12-31120376322023-01-012023-12-3112037632core:BetweenOneFiveYears2024-12-3112037632core:BetweenOneFiveYears2023-12-311203763212024-01-012024-12-3112037632countries:EnglandWales2024-01-012024-12-3112037632bus:AuditExemptWithAccountantsReport2024-01-012024-12-3112037632bus:PrivateLimitedCompanyLtd2024-01-012024-12-3112037632bus:SmallEntities2024-01-012024-12-3112037632bus:AbridgedAccounts2024-01-012024-12-31
Company registration number:
12037632
BRAITHWATE LTD
Unaudited Filleted Abridged Financial Statements for the year ended
31 December 2024
BRAITHWATE LTD
Report to the board of directors on the preparation of the unaudited statutory financial statements of BRAITHWATE LTD
Year ended
31 December 2024
As described on the abridged statement of financial position, the Board of Directors of
BRAITHWATE LTD
are responsible for the preparation of the
abridged financial statements
for the year ended
31 December 2024
, which comprise the abridged income statement, abridged statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Marathon Accountants Ltd
93 Louisville Road
London
SW17 8RN
United Kingdom
BRAITHWATE LTD
Abridged Statement of Financial Position
31 December 2024
20242023
££
Current assets    
Debtors
79,259
 
(34,796
 )
Cash at bank and in hand
244,957
 
25,778
 
324,216
 
(9,018
 )
Creditors: amounts falling due within one year
(166,808
 )
(14,660
 )
Net current assets/(liabilities)
157,408
 
(23,678
 )
Total assets less current liabilities 157,408   (23,678 )
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
157,308
 
(23,778
 )
Shareholders funds/(deficit)
157,408
 
(23,678
 )
For the 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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
31 December 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
17 September 2025
, and are signed on behalf of the board by:
Mr James Nicholls
Director
Company registration number:
12037632
BRAITHWATE LTD
Notes to the Abridged Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
36 Spital Square
,
Third Floor
,
London
,
E1 6DY
, United Kingdom.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

Going Concern The financial statements have been prepared on a going concern basis. The directors have considered the company’s financial position and future funding requirements for at least 12 months from the date of approval of these financial statements. On the basis of this review, and taking into account available facilities and anticipated future performance, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
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 deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted ata market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Foreign Exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

4 Average number of employees

The average number of persons employed by the company during the year was
4
(2023:
2
).

5 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
10,410
 
19,789
 
Later than 1 year and not later than 5 years
0.00
 
10,410
 
10,410
 
30,199
 

7 Share Capital

Share capital consists of 100 issued and fully paid Ordinary Shares of £1 each (2023: 100)

8 Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
There is no tax liability as the profit for the year was offset by losses from prior years.

9 Employee Benefits

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.