ACCOUNTS - Final Accounts

Registered number: 04384012

JAMES BRETT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

JAMES BRETT LIMITED

REGISTERED NUMBER: 04384012

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		394		798
			394		798
Current assets
Stocks		221,025		358,698
Debtors: amounts falling due within one year	5	2,357		2,839
Cash at bank and in hand		5,495		8,580
		228,877		370,117
Creditors: amounts falling due within one year	6	(250,185)		(246,678)
Net current (liabilities)/assets			(21,308)		123,439
Total assets less current liabilities			(20,914)		124,237

Net (liabilities)/assets			(20,914)		124,237

Capital and reserves
Called up share capital	7,736	7,736
Share premium account	1,251,870	1,251,870
Profit and loss account	(1,280,520)	(1,135,369)
	(20,914)	124,237

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JAMES BRETT LIMITED

REGISTERED NUMBER: 04384012

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

T B R S Brett

Director

Date: 21 September 2026

The notes on pages 3 to 6 form part of these financial statements.

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JAMES BRETT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

James Brett Limited is a private company limited by shares and incorporated in England and Wales, registration number 04384012. The registered office is The Warehouse, 16 Ten Bell Lane, Norwich, Norfolk, NR2 1HE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.2

Going concern

The director has concluded that it is not appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements have been prepared on a break-up basis. Assets have been stated at their estimated recoverable amounts and liabilities include provisions for costs expected to arise.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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JAMES BRETT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

				Leasehold property improvements	-	10% straight line
				Computer equipment	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

2.8

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.

2.9

Creditors

Short-term 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.

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JAMES BRETT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

4.	Tangible fixed assets

	Leasehold property improvements	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 January 2025	1,978	833	2,811
Disposals	-	(833)	(833)
At 31 December 2025	1,978	-	1,978
Depreciation
At 1 January 2025	1,386	627	2,013
Charge for the year on owned assets	198	206	404
Disposals	-	(833)	(833)
At 31 December 2025	1,584	-	1,584
Net book value
At 31 December 2025	394	-	394
At 31 December 2024	592	206	798

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JAMES BRETT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	1,164	1,317
Other debtors	607	594
Prepayments and accrued income	586	928
	2,357	2,839

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	282	-
Other creditors	247,791	244,732
Accruals and deferred income	2,112	1,946
	250,185	246,678

7.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions paid by the company to the fund and amounted to £290 (2024: £249). There are no contributions outstanding at the year end.

8.	Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.

9.	Related party transactions
	At the year end a director was owed £247,791 (2024: £244,479). During the year £5,618 was loaned by a director and £2,306 was advanced to the director. The company rents a property from a director at £3,500 per annum.

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