L & C Bracey Limited - Filleted accounts

Registered number

04704943

L & C Bracey Limited

Filleted Accounts

31 July 2025

L & C Bracey Limited
Registered number:		04704943
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		91,677			54,930
Investments	4		115			115
			91,792			55,045

Current assets
Stocks		4,385			-
Debtors	5	3,561,408			3,209,337
Cash at bank and in hand		9,491			37,692
		3,575,284			3,247,029

Creditors: amounts falling due within one year	6	(1,380,434)			(1,005,942)

Net current assets			2,194,850			2,241,087

Total assets less current liabilities			2,286,642			2,296,132


Provisions for liabilities			(10,592)			(13,733)


Net assets			2,276,050			2,282,399

Capital and reserves
Called up share capital			100			100
Profit and loss account			2,275,950			2,282,299

Shareholders' funds			2,276,050			2,282,399

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mrs. L. A. Bracey
Director





C. R. Bracey
Director
Approved by the board on 29 April 2026

L & C Bracey Limited
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Consolidation
	The company has taken advantage of the option not to prepare consolidated financial statements contained in section 398 of the Companies Act 2006 on the basis that the company and its parent undertakings comprise a small group.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
	Plant and machinery		20% and 33.33% reducing balance
	Motor Vehicles		25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees				2025		2024
Number						Number

	Average number of persons employed by the company				6		6


3	Tangible fixed assets
			Plant and machinery etc		Motor vehicles		Total
£				£		£
	Cost
	At 1 August 2024		182,372		59,836		242,208
	Additions		65,383		-		65,383
	Disposals		(65,450)		(10,281)		(75,731)
	At 31 July 2025		182,305		49,555		231,860

	Depreciation
	At 1 August 2024		151,292		35,986		187,278
	Charge for the year		10,705		5,943		16,648
	On disposals		(57,799)		(5,944)		(63,743)
	At 31 July 2025		104,198		35,985		140,183

	Net book value
	At 31 July 2025		78,107		13,570		91,677
	At 31 July 2024		31,080		23,850		54,930


4	Investments

Other
investments
£
	Cost
	At 1 August 2024						115

	At 31 July 2025						115


5	Debtors				2025		2024
£						£

	Trade debtors				227,017		175,949
	Amounts owed by group undertakings and undertakings in which the company has a participating interest				2,606,143		2,450,634
	Other debtors				728,248		582,754
					3,561,408		3,209,337


6	Creditors: amounts falling due within one year				2025		2024
£						£

	Trade creditors				205,226		155,497
	Amounts owed to group undertakings and undertakings in which the company has a participating interest				50,000		50,000
	Taxation and social security costs				226,234		271,628
	Other creditors				898,974		528,817
					1,380,434		1,005,942


7	Related party transactions
	The company has taken advantage of the exemption under FRS 102 to not disclose particulars
	of transactions with group undertakings.
					2025		2024
	W J Bracey Limited	£				£
	C R Bracey is a director.
	Debtor /(Creditor) payable to /(by) the company				(314,191)		13,770

	Pightle Homes Limited
	C R Bracey is a director.
	Debtor payable to the company				823,000		580,328

	C R and Mrs L A Bracey
	Directors current account
	Creditor payable by the company				464,121		403,511


8	Controlling party

	The company's parent undertaking is Possuic Limited. In the opinion of the directors there is no ultimate controlling party.


9	Other information

	L & C Bracey Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Hall
	Hall Lane
	Postwick
	Norfolk
	NR13 5HQ