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Registered number: 02458496
Brakes International Limited
Financial Statements
For The Year Ended 31 January 2026
PKW LLP Chartered Accountants
Cloth Hall
150 Drake Street
Rochdale
OL16 1PX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02458496
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 622,550 554,482
622,550 554,482
CURRENT ASSETS
Stocks 5 418,031 386,748
Debtors 6 253,387 257,851
Investments 7 10 10
Cash at bank and in hand 1,103,261 1,167,358
1,774,689 1,811,967
Creditors: Amounts Falling Due Within One Year 8 (457,131 ) (497,993 )
NET CURRENT ASSETS (LIABILITIES) 1,317,558 1,313,974
TOTAL ASSETS LESS CURRENT LIABILITIES 1,940,108 1,868,456
PROVISIONS FOR LIABILITIES
Deferred Taxation (32,450 ) (8,996 )
NET ASSETS 1,907,658 1,859,460
CAPITAL AND RESERVES
Called up share capital 9 30 30
Profit and Loss Account 1,907,628 1,859,430
SHAREHOLDERS' FUNDS 1,907,658 1,859,460
Page 1
Page 2
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Bowen
Director
30th June 2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Brakes International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02458496 . The registered office is Moore Street Rochdale, Rochdale, OL16 1QN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not provided
Leasehold 2% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 30% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2025: 23)
23 23
4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2025 456,287 8,172 246,833 127,035
Additions - - 130,026 -
Disposals - - (61,475 ) -
As at 31 January 2026 456,287 8,172 315,384 127,035
Depreciation
As at 1 February 2025 - 3,931 173,080 113,194
Provided during the period - 84 47,980 2,076
Disposals - - (49,614 ) -
As at 31 January 2026 - 4,015 171,446 115,270
Net Book Value
As at 31 January 2026 456,287 4,157 143,938 11,765
As at 1 February 2025 456,287 4,241 73,753 13,841
Computer Equipment Total
£ £
Cost
As at 1 February 2025 29,300 867,627
Additions 2,788 132,814
Disposals - (61,475 )
As at 31 January 2026 32,088 938,966
Depreciation
As at 1 February 2025 22,940 313,145
Provided during the period 2,745 52,885
Disposals - (49,614 )
As at 31 January 2026 25,685 316,416
Net Book Value
As at 31 January 2026 6,403 622,550
As at 1 February 2025 6,360 554,482
5. Stocks
2026 2025
£ £
Stock 418,031 386,748
Page 4
Page 5
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 219,121 210,759
Other debtors 34,266 47,092
253,387 257,851
7. Current Asset Investments
2026 2025
£ £
Unlisted investments 10 10
8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 308,235 302,456
Other creditors 72,419 79,464
Taxation and social security 76,477 116,073
457,131 497,993
9. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 30 30
Page 5