Brothers & Business Investment Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 12566464 (England and Wales)
Brothers & Business Investment Limited
Company Information
Directors
Fides Managing Limited
Fides Finance Limited
Mr M Capt
Company number
12566464
Registered office
4 Victoria Square
St Albans
Hertfordshire
United Kingdom
AL1 3TF
Accountants
Moore Kingston Smith LLP
4 Victoria Square
St Albans
Hertfordshire
AL1 3TF
Brothers & Business Investment Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
3 - 6
Brothers & Business Investment Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
€
€
€
€
Fixed assets
Investments
3
11,502
11,502
Current assets
Cash at bank and in hand
17,361
8,746
Creditors: amounts falling due within one year
5
(15,182)
(15,182)
Net current assets/(liabilities)
2,179
(6,436)
Net assets
13,681
5,066
Capital and reserves
Called up share capital
6
4,534
4,534
Profit and loss reserves
9,147
532
Total equity
13,681
5,066

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 December 2025 and are signed on its behalf by:
Mr M Capt
Director
Company Registration No. 12566464
Brothers & Business Investment Limited
Statement of Changes in Equity
For the year ended 31 December 2024
Page 2
Share capital
Profit and loss reserves
Total
Notes
€
€
€
Balance at 1 January 2023
4,534
2,369
6,903
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
542,163
542,163
Dividends
-
(544,000)
(544,000)
Balance at 31 December 2023
4,534
532
5,066
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
912,615
912,615
Dividends
-
(904,000)
(904,000)
Balance at 31 December 2024
4,534
9,147
13,681
Brothers & Business Investment Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information

Brothers & Business Investment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Victoria Square, St Albans, Hertfordshire, United Kingdom, AL1 3TF.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in euros, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Brothers & Business Investment Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
1.5
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

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.

Classification of 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 deducting all of its liabilities.

Basic financial 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 paymen ts discounted at a 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. A m ounts 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Brothers & Business Investment Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 5
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.

1.8
Foreign exchange

The financial statements are stated in Euros and are translated at a rate of 1.2047 to the £. Transactions in currencies other than euros (€) 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
€
€
Shares in participating interests
9,636
9,636
Loans to participating interests
1,866
1,866
11,502
11,502
Brothers & Business Investment Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 6
4
Significant undertakings

The company also has significant holdings in undertakings which are not consolidated:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Kangoo Africa SA
Senegal
Ordinary
50.00
KG & B Trading Limited
The Gambia
Ordinary
50.00
The aggregate capital and reserves and the result for the year of significant undertakings noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
€
€
Kangoo Africa SA
1,922,042
2,054,168
KG & B Trading Limited
44,586
396,191
5
Creditors: amounts falling due within one year
2024
2023
€
€
Other creditors
15,182
15,182
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
€
€
Issued and fully paid
Ordinary Shares of €1 each
4,000
4,000
4,534
4,534
7
Related party transactions

As at the period end, included in other creditors were equal amounts of €3,795.50 (2023 €3,795.50) due to each of the four shareholders of the company.

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