Braemac Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03488704

Braemac Limited

Filleted Financial Statements

31 December 2025

Braemac Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		11,308	3,073

Current assets

Stocks		1,210,112	799,362
Debtors	6	1,534,166	2,026,586
Cash at bank and in hand		963,076	1,755,237
		------------	------------
		3,707,354	4,581,185

Creditors: amounts falling due within one year	7	644,401		1,546,183
		------------		------------
Net current assets			3,062,953	3,035,002
			------------	------------
Total assets less current liabilities			3,074,261	3,038,075

Creditors: amounts falling due after more than one year	8		750,000	750,000

Provisions

Taxation including deferred tax	5,867	( 8,297)
	------------	------------
Net assets	2,318,394	2,296,372
	------------	------------

Capital and reserves

Called up share capital	20	20
Profit and loss account	2,318,374	2,296,352
	------------	------------
Shareholders funds	2,318,394	2,296,372
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Braemac Limited

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 21 September 2026 , and are signed on behalf of the board by:

Mr J W Mitchell

Director

Company registration number: 03488704

Braemac Limited

Notes to the Financial Statements

Year ended 31st December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Braemac House, 1 Mandarin Court, Centre Park, Warrington, Cheshire, WA1 1GG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Foreign currency

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Group reporting requirements dictate that all assets with a net book value of less than US$5k are written off.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer equipment	-	33% straight line
Fixtures and fittings	-	15 - 25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2024: 14 ).

5. Tangible assets

	Computer equipment	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1st January 2025	40,490	68,417	6,553	115,460
Additions	9,796	–	–	9,796
	--------	--------	-------	---------
At 31st December 2025	50,286	68,417	6,553	125,256
	--------	--------	-------	---------
Depreciation
At 1st January 2025	39,905	66,069	6,413	112,387
Charge for the year	585	872	104	1,561
	--------	--------	-------	---------
At 31st December 2025	40,490	66,941	6,517	113,948
	--------	--------	-------	---------
Carrying amount
At 31st December 2025	9,796	1,476	36	11,308
	--------	--------	-------	---------
At 31st December 2024	585	2,348	140	3,073
	--------	--------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	762,758	1,533,538
Amounts owed by group undertakings	207,867	42,356
Other debtors	563,541	450,692
	------------	------------
	1,534,166	2,026,586
	------------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	211,187	513,340
Amounts owed to group undertakings	29,460	17,476
Corporation tax	–	39,211
Social security and other taxes	194,684	467,359
Other creditors	209,070	508,797
	---------	------------
	644,401	1,546,183
	---------	------------

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

	2025	2024
	£	£
Amounts owed to group undertakings	750,000	750,000
	---------	---------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	83,568	83,568
Later than 1 year and not later than 5 years	181,064	264,632
	---------	---------
	264,632	348,200
	---------	---------

The lease payments recognised as an expense during the year amounted to £83,742 (2024: £83,568).

10. Summary audit opinion

The auditor's report dated 21 September 2026 was unqualified .

The senior statutory auditor was Rachel Palombella FCA , for and on behalf of AGP .

11. Controlling party

On 01 January 2023 the company was acquired by RFMW UK Limited, a company incorporated in England & Wales, who own 100% of the issued share capital. The ultimate parent company is Berkshire Hathaway Inc, a company incorporated in the United States of America. Consolidated accounts are prepared by Berkshire Hathaway Inc and are available from its registered address: 3555 Farnham Street, Omaha, United States, NE 68131.