Brennan Trading Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Brennan Trading Ltd

Company Information

Directors

C J Brennan T W Brennan

Registered office

Halfway Courtyard, Halfway Lane Eashing Farm Estate Eashing Godalming Surrey GU7 2QQ

Accountants

Tremaines Ltd East Wing, South Hill Paddockhurst Road Turners Hill West Sussex RH10 4SF

Brennan Trading Ltd

(Registration number: 05362032)
Balance Sheet as at 6 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	305,207	221,665
Investments	6	100,000	100,000
		405,207	321,665
Current assets
Stocks	7	77,973	64,995
Debtors	8	745,010	599,141
Cash at bank and in hand		2,690,442	2,482,701
		3,513,425	3,146,837
Creditors: Amounts falling due within one year	9	(2,877,948)	(2,967,114)
Net current assets		635,477	179,723
Total assets less current liabilities		1,040,684	501,388
Provisions for liabilities		(76,843)	(37,858)
Net assets		963,841	463,530
Capital and reserves
Called up share capital	10	1,000	1,000
Retained earnings		962,841	462,530
Shareholders' funds		963,841	463,530

For the financial period ending 6 April 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2025 and signed on its behalf by:
 

Brennan Trading Ltd

(Registration number: 05362032)
Balance Sheet as at 6 April 2025

......................................... T W Brennan Director

Brennan Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 6 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Halfway Courtyard, Halfway Lane
Eashing Farm Estate
Eashing
Godalming
Surrey
GU7 2QQ

These financial statements were authorised for issue by the Board on 28 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sales of good and provision of services, net of discounts and sales taxes, in the ordinary course of the Company’s activities. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

Foreign currency transactions and balances

Transactions denominated in foreign currencies are initially recorded at the rate of exchange as at the date of the transaction. Year end balances are retranslated at the rate of exchange as at the year end with exchange differences included in arriving at profit before tax.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Brennan Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 6 April 2025

Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed by the balance sheet date except that a deferred tax asset is only recognised to the extent that it is regarded recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant	33% SL
Vehicles	25% SL
Computer Equipment	33% SL
Equipment	20% SL

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% SL

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Brennan Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 6 April 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Leases

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The Company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 223 (2024 - 183).

Brennan Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 6 April 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	78,182	78,182
At 6 April 2025	78,182	78,182
Amortisation
At 1 April 2024	78,182	78,182
At 6 April 2025	78,182	78,182
Carrying amount
At 6 April 2025	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	58,214	417,636	474,807	950,657
Additions	4,971	89,556	63,270	157,797
Disposals	-	(40,250)	-	(40,250)
At 6 April 2025	63,185	466,942	538,077	1,068,204
Depreciation
At 1 April 2024	42,296	304,480	372,384	719,160
Charge for the period	9,259	40,027	34,801	84,087
Eliminated on disposal	-	(40,250)	-	(40,250)
At 6 April 2025	51,555	304,257	407,185	762,997
Carrying amount
At 6 April 2025	11,630	162,685	130,892	305,207
At 31 March 2024	15,918	113,489	92,258	221,665

Brennan Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 6 April 2025

6	Investments

	2025 £	2024 £
Investments in associates	100,000	100,000