Company No: 05821456 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	4	13,595		23,413
Tangible assets	5	18,602		20,370
		32,197		43,783
Current assets
Stocks		191,840		198,457
Debtors	6	233,153		246,417
Cash at bank and in hand		68,956		60,040
		493,949		504,914
Creditors: amounts falling due within one year	7	( 427,347)		( 453,213)
Net current assets		66,602		51,701
Total assets less current liabilities		98,799		95,484
Creditors: amounts falling due after more than one year	8	( 119,613)		( 106,357)
Provision for liabilities		( 4,611)		( 3,697)
Net liabilities		( 25,425)		( 14,570)
Capital and reserves
Called-up share capital	9	15,100		15,100
Profit and loss account		( 40,525 )		( 29,670 )
Total shareholders' deficit		( 25,425)		( 14,570)

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Brown and Forrest Limited (registered number: 05821456) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

Mr J H Pattisson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Brown and Forrest Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bowdens Farm, Hambridge, Somerset, TA10 0BP, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

Notwithstanding net liabilities of £25,425 (2024: £14,570), the directors have continued to adopt the going concern basis of preparation. In forming their opinion the directors have made all necessary enquiries and in addition to the ongoing profitable financial performance of the company, have considered in particular; the current economic uncertainty and impact that may have upon the confidence of both the direct to consumer and business to business elements of revenue as well as inflationary pressures in the cost base. The directors are satisfied that the company continues to meet its liabilities as they fall due and expect to continue to do so for the foreseeable future being no less than 12 months from the date of approval of these financial statements

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax and returns. Revenue is recognised upon delivery to, or collection by, the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	20 years straight line
Trademarks, patents and licences	10 years straight line
Website costs	10 years straight line
Other intangible assets	5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	3 years straight line
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stock is valued at the lower cost and net realisable value, after due regard for obsolete and slow moving stocks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key estimates and judgements that have a significant effect on the amounts recognised in the financial statements are described below:

Going concern
As referred to in the policy above, the directors have used their judgement to ascertain that the company is a going concern.

Intangible assets
Intangible assets are carried at cost, less amortisation and any subsequent accumulated impairment loss. This requires an estimation in the amortisation rates, as well as assessment of the ongoing economic contribution of the assets as to whether an indicator of impairment has occurred. The carrying value at the year end is £13,595 (2024: £23,413).

Stock
The directors have estimated the stock value at £191,840 (2024: £198,457), who are of the opinion that this represents the value in line with the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	19		20

4. Intangible assets

	Goodwill		Trademarks, patents and licences		Website costs		Other intangible assets		Total
	£		£		£		£		£
Cost
At 01 September 2024	181,653		2,850		6,000		4,800		195,303
At 31 August 2025	181,653		2,850		6,000		4,800		195,303
Accumulated amortisation
At 01 September 2024	163,496		1,894		1,700		4,800		171,890
Charge for the financial year	9,083		135		600		0		9,818
At 31 August 2025	172,579		2,029		2,300		4,800		181,708
Net book value
At 31 August 2025	9,074		821		3,700		0		13,595
At 31 August 2024	18,157		956		4,300		0		23,413

5. Tangible assets

	Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 September 2024	20,969		100,266		9,207		130,442
Additions	0		2,295		2,710		5,005
At 31 August 2025	20,969		102,561		11,917		135,447
Accumulated depreciation
At 01 September 2024	20,554		81,848		7,670		110,072
Charge for the financial year	104		5,035		1,634		6,773
At 31 August 2025	20,658		86,883		9,304		116,845
Net book value
At 31 August 2025	311		15,678		2,613		18,602
At 31 August 2024	415		18,418		1,537		20,370

6. Debtors

	2025		2024
	£		£
Trade debtors	42,344		46,237
Amounts owed by directors	130,892		139,198
VAT recoverable	9,737		10,802
Other debtors	50,180		50,180
	233,153		246,417

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	9,646		61,137
Trade creditors	156,928		151,232
Other loans	212,822		152,047
Accruals	11,813		22,072
Corporation tax	32,632		62,434
Other taxation and social security	2,216		3,805
Other creditors	1,290		486
	427,347		453,213

The bank overdraft of £nil (2024: £50,869) is secured over the assets of the company.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		9,645
Other loans	119,613		96,712
	119,613		106,357

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100
15,000 Ordinary A shares of £ 1.00 each	15,000		15,000
	15,100		15,100

10. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	19,447		38,893

11. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
At 1 September	139,198		81,527
Advances	86,079		117,201
Repayments	(94,385)		(59,530)
At 31 August	130,892		139,198

Interest is charged on overdrawn balances in excess of £10,000 at the HMRC official rate for beneficial loans. The loan is repayable on demand.