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Registered number: 02688460 WALTER BRAUND (SPITALFIELDS) LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
WALTER BRAUND (SPITALFIELDS) LIMITED COMPANY INFORMATION
Director | J A Johnson
Registered number | 02688460
Registered office | Stand 62 New Spitalfieds Market
| Sherrin Road
| London
| E10 5SJ
Accountants | Barnes Roffe Advisory Limited
| Chartered Accountants
| Leytonstone House
| 3 Hanbury Drive
| London
| E11 1GA
WALTER BRAUND (SPITALFIELDS) LIMITED REGISTERED NUMBER: 02688460 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 20,000 |  | 20,000
Tangible assets | 5 |  | 84,402 |  | 92,639
|  |  | 104,402 |  | 112,639
Current assets |  |  |  |  |
Stocks |  | 59,635 |  | 41,500 |
Debtors: amounts falling due within one year | 6 | 2,196,362 |  | 2,220,253 |
Cash at bank and in hand |  | 1,360,994 |  | 1,106,641 |
|  | 3,616,991 |  | 3,368,394 |
Creditors: amounts falling due within one year | 7 | (688,513) |  | (568,132) |
Net current assets |  |  | 2,928,478 |  | 2,800,262
Net assets |  |  | 3,032,880 |  | 2,912,901
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100,100 |  | 100,100
Profit and loss account |  |  | 2,932,780 |  | 2,812,801
|  |  | 3,032,880 |  | 2,912,901
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WALTER BRAUND (SPITALFIELDS) LIMITED REGISTERED NUMBER: 02688460 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The director considers 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 year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his 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 income and retained earnings 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 31 October 2025.
J A Johnson
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
WALTER BRAUND (SPITALFIELDS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Walter Braund (Spitalfields) Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Stand 62 New Spitalfields Market, Sherrin Road, London, England, E10 5SQ. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
Turnover comprises revenue recognised by the company in respect of goods supplied during the period, exclusive of Value Added Tax and trade discounts.
| 2.3 | Finance costs
Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.4 | 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 the Statement of income and retained earnings 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. Page 3
WALTER BRAUND (SPITALFIELDS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Taxation
Tax is recognised in the Statement of income and retained earnings 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.
| 2.6 | 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. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.7 | 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
WALTER BRAUND (SPITALFIELDS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.7 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. It is provided on the following annual basis:
|  |  |  | Plant and machinery | - | 10% | reducing balance
|  |  |  | Motor vehicles | - | 20% | straight line
|  |  |  | Furniture and equipment | - | 20% | reducing balance
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 the Statement of income and retained earnings.
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price.
| 2.12 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 8 (2024 - 7).
Page 5
WALTER BRAUND (SPITALFIELDS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Intangible assets
|  | Number plate
|  | £
| Cost |
| At 1 April 2024 | 20,000
| At 31 March 2025 | 20,000
| Net book value |
| At 31 March 2025 | 20,000
| At 31 March 2024 | 20,000
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WALTER BRAUND (SPITALFIELDS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Furniture and equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 April 2024 | 31,350 | 95,580 | 78,581 | 205,511
| Additions | - | 78,539 | - | 78,539
| Disposals | - | (95,580) | - | (95,580)
| At 31 March 2025 | 31,350 | 78,539 | 78,581 | 188,470
| Depreciation |  |  |  |
| At 1 April 2024 | 16,353 | 22,302 | 74,217 | 112,872
| Charge for the year on owned assets | 873 | 19,091 | 1,499 | 21,463
| Disposals | - | (30,267) | - | (30,267)
| At 31 March 2025 | 17,226 | 11,126 | 75,716 | 104,068
| Net book value |  |  |  |
| At 31 March 2025 | 14,124 | 67,413 | 2,865 | 84,402
| At 31 March 2024 | 14,997 | 73,278 | 4,364 | 92,639
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WALTER BRAUND (SPITALFIELDS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 178,090 | 169,792
| Amounts owed by group undertakings | 1,926,040 | 1,926,040
| Other debtors | 92,232 | 124,421
|  | 2,196,362 | 2,220,253
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 378,000 | 339,391
| Corporation tax | 119,032 | 98,500
| Other taxation and social security | 15,328 | 15,659
| Other creditors | 15,083 | 16,070
| Accruals and deferred income | 161,070 | 98,512
|  | 688,513 | 568,132
8. | Pension commitments
The company contributes to the personal pension plans of certain employees. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,953 (2024 - £9,954). Contributions totalling £4,432 (2024 - £2,399) were payable to the fund at the balance sheet date and are included in creditors.
Page 8